The TJX Companies Inc. (TJX): Technicals Say You should Hold

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The TJX Companies Inc. (NYSE:TJX) saw a downside of -0.47% to close Monday at $79.17 after subtracting -$0.37 on the day. The 5-day average trading volume is 6,421,960 shares of the company’s common stock. It has gained $82.07 in the past week and touched a new high 1 time within the past 5 days. An average of 4,711,520 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 5,692,874.

TJX’s 1-month performance is 2.04% or -$0.33 on its low of $78.25 reached on 12/28/22. The company’s shares have touched a 52-week low of $53.69 and high of $83.13, with the stock’s rally to the 52-week high happening on 01/09/23. YTD, TJX has lost -0.54% or -$0.43 and has reached a new high 5 times. However, the current price is down -4.76% from the 52-week high price.

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Insider Transactions

TJX stock investors last saw insider trading activity on Nov 22.Greenlees Louise (SEVP – Group President) most recently sold 6,708 shares at $79.99 per share on Nov 22. This transaction cost the insider $536,577. Executive Chairman, MEYROWITZ CAROL, sold 16,223 shares at a price of $79.79 on Nov 22. Then, on Nov 21, Director LANE AMY B sold 3,200 shares at a price of $78.86 per share. This transaction amounted to $252,351.

Valuation Metrics

TJX stock has a beta of 0.89. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 1.85 while the price-to-book (PB) in the most recent quarter is 16.22.

The TJX Companies Inc.’s quick ratio for the period ended July 30 was 0.40, with the current ratio over the same period at 1.20. As well, the company’s long term debt to equity for the quarter ending July 30 was 0.50, while the total debt to equity was 0.59. In terms of profitability, the gross margin trailing 12 months is 27.90%. The firm’s gross profit as reported stood at $13.84 billion against revenue of $48.55 billion.

Earnings Surprise

For the quarterly period ending July 30 this year, Net income and sales went up compared to those figures reported in the previous quarter. Net income grew 3.75% to $1.06 billion, while revenue of $809.34 million was 23.85% off the previous quarter. Analysts expected TJX to announce $0.66 per share in earnings in its latest quarter, but it posted $0.69, representing a 4.50% surprise. EBITDA for the quarter stood at more than $1.79 billion. TJX stock balance sheet for the quarter ending July 30 shows that total liabilities totaled 22.76 billion, with total debt at $12.63 billion. Shareholders hold equity totaling $1.16 billion.

Let’s look briefly at The TJX Companies Inc. (TJX) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 23 January was 39.17% to suggest the stock is trending Neutral, with historical volatility in this time period at 12.63%.

The stock’s 5-day moving average is $79.90, reflecting a -2.89% or -$2.36 change from its current price. TJX is currently trading +0.42% above its 20-day SMA, +25.43% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +10.74% and SMA200 by+28.29%.

Stochastic %K and %D was 18.42% and 27.42% and the average true range (ATR) pointed at 1.31. The RSI (14) points at 46.46%, while the 14-day stochastic is at 14.19% with the period’s ATR at 1.38. The stock’s 9-day MACD Oscillator is pointing at -1.48 and -1.44 on the 14-day charts.

Analyst Ratings

In the most recent analyst report for The TJX Companies Inc. (NYSE: TJX), Gordon Haskett upgraded it to a Buy rating. They previously had a Hold rating on the stock. Analysts offering their rating for TJX stock have a consensus rating for the stock as Overweight. Currently, 0 brokerage advisors rate TJX as a “sell,”, while 5 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 4 rates the stock as overweight while 15 have offered a “buy” rating.

What is TJX’s price target for the next 12 months?

Analysts have a consensus price target ranging from a low of $75.00 and a high of $95.00, with their median price target at $85.00. Looking at these predictions, the average price target given by analysts is for The TJX Companies Inc. (TJX) stock is $86.66.

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