TJX Cos. PT Raised to $52.00 (TJX)
Analysts at BMO Capital Markets increased their price target on shares of TJX Cos. (NYSE:TJX) from $48.00 to $52.00 in a research report issued to clients and investors on Wednesday, Analyst Ratings Network reports. The firm currently has a “market perform” rating on the stock. BMO Capital Markets’ price target suggests a potential downside of 4.13% from the company’s current price.
The analysts wrote, “TJX reports 2Q EPS of $0.66 – ahead of consensus estimates for EPS of $0.63. We believe 3Q is off to a solid start with management guiding conservatively, in our view, for EPS in the range of $0.69-$0.72. Still at the high end of consensus for EPS of $0.71. Comps are expected in the range of 2%-3% for 3Q. Consolidated inventory was down 5% per store, which we view positively, as it continues to suggest TJX is in chase mode for goods to support solid demand. Plans remain on track for a TJX e-com site in the back half, a significant opportunity, in our view.”
A number of other analysts have also recently weighed in on TJX. Analysts at MKM Partners raised their price target on shares of TJX Cos. from $57.00 to $61.00 in a research note to investors on Wednesday. They now have a “buy” rating on the stock. Separately, analysts at UBS AG raised their price target on shares of TJX Cos. from $57.00 to $60.00 in a research note to investors on Wednesday. They now have a “buy” rating on the stock. Finally, analysts at FBR Capital Markets raised their price target on shares of TJX Cos. from $60.00 to $65.00 in a research note to investors on Wednesday. They now have an “outperform” rating on the stock.
Nine investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $55.33.
TJX Cos. (NYSE:TJX) traded down 0.53% during mid-day trading on Wednesday, hitting $53.955. The stock had a trading volume of 1,807,744 shares. TJX Cos. has a 52-week low of $40.08 and a 52-week high of $54.41. The stock’s 50-day moving average is $52.11 and its 200-day moving average is $48.91. The company has a market cap of $38.835 billion and a price-to-earnings ratio of 20.69.
TJX Cos. (NYSE:TJX) last announced its earnings results on Tuesday, August 20th. The company reported $0.66 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.63 by $0.03. The company had revenue of $6.44 billion for the quarter, compared to the consensus estimate of $6.37 billion. During the same quarter in the prior year, the company posted $0.56 earnings per share. The company’s quarterly revenue was up 8.4% on a year-over-year basis. Analysts expect that TJX Cos. will post $2.82 EPS for the current fiscal year.
The TJX Companies, Inc (NYSE:TJX) is the off-price apparel and home fashions retailer in the United States and worldwide.
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