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Bank of America Securities Sticks to Their Buy Rating for TJX Companies (TJX)

Tipranks - Tipranks - Wed Jun 24, 7:32AM CDT

Bank of America Securities analyst Lorraine Hutchinson reiterated a Buy rating on TJX Companies today and set a price target of $175.00.

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Hutchinson covers the Consumer Cyclical sector, focusing on stocks such as Ross Stores, Burlington Stores, and Ulta Beauty. According to TipRanks, Hutchinson has an average return of 2.2% and a 52.62% success rate on recommended stocks.

In a report released on June 11, Bernstein also maintained a Buy rating on the stock with a $175.00 price target.

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Based on TJX Companies’ latest earnings release for the quarter ending May 2, the company reported a quarterly revenue of $14.32 billion and a net profit of $1.33 billion. In comparison, last year the company earned a revenue of $13.11 billion and had a net profit of $1.04 billion

Based on the recent corporate insider activity of 45 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of TJX in relation to earlier this year. Earlier this month, Jackwyn Nemerov, a Director at TJX sold 957.00 shares for a total of $161,340.63.

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