Zacks Investment Research Lowers TJX Companies, Inc. (The) (TJX) to Hold
TJX Companies, Inc. (The) (NYSE:TJX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.
According to Zacks, “The TJX Companies posted second-quarter fiscal 2018 results, wherein both earnings and revenues exceeded expectations, driven by improved traffic and margin improvements, as well as higher market share. The company also raised its fiscal 2018 earnings guidance. We are impressed on the company’s brand enhancing initiative, aggressive store opening strategy and improving e-Commerce business. Though shares have been declining for the last several quarters, the stock has started rallying over the last one month in comparison to the industry’s growth. However, the company is facing disappointing comps growth of late. In the second quarter, though sales grew on the back of increase in comps and improved traffic, comps growth of 3% were lower than the 4% comps growth in the year-ago quarter. The company is also facing margin pressure due to higher payroll and pension related costs. Currency headwinds also remain a concern.”
A number of other brokerages have also recently issued reports on TJX. BMO Capital Markets reissued a “buy” rating and issued a $85.00 price objective on shares of TJX Companies, Inc. (The) in a research note on Thursday, June 8th. Morgan Stanley raised shares of TJX Companies, Inc. (The) from an “equal weight” rating to an “overweight” rating and set a $86.00 price objective on the stock in a research note on Wednesday, May 17th. BidaskClub raised shares of TJX Companies, Inc. (The) from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 28th. Credit Suisse Group reissued a “hold” rating and issued a $79.00 price objective on shares of TJX Companies, Inc. (The) in a research note on Wednesday, May 17th. Finally, Instinet reissued a “buy” rating and issued a $84.00 price objective (down from $87.00) on shares of TJX Companies, Inc. (The) in a research note on Wednesday, May 17th. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $82.61.
Shares of TJX Companies, Inc. (TJX) traded down 0.91% during trading on Thursday, reaching $70.94. The company had a trading volume of 655,631 shares. The firm has a 50 day moving average price of $70.11 and a 200 day moving average price of $74.86. TJX Companies, Inc. has a 12 month low of $66.65 and a 12 month high of $80.92. The company has a market cap of $45.99 billion, a price-to-earnings ratio of 20.08 and a beta of 0.77. TJX Companies, Inc. (The) also saw unusually large options trading activity on Monday. Investors bought 21,190 put options on the stock. This is an increase of 1,148% compared to the average volume of 1,698 put options.
TJX Companies, Inc. (The) (NYSE:TJX) last announced its earnings results on Tuesday, August 15th. The apparel and home fashions retailer reported $0.85 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.84 by $0.01. TJX Companies, Inc. (The) had a net margin of 6.83% and a return on equity of 52.87%. The company had revenue of $8.36 billion for the quarter, compared to analysts’ expectations of $8.29 billion. During the same period last year, the firm earned $0.84 earnings per share. The business’s revenue for the quarter was up 6.0% on a year-over-year basis. Analysts predict that TJX Companies, Inc. will post $3.90 earnings per share for the current year.
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In related news, EVP Kenneth Canestrari sold 4,000 shares of the business’s stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $75.80, for a total value of $303,200.00. Following the transaction, the executive vice president now owns 86,243 shares in the company, valued at $6,537,219.40. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.23% of the stock is owned by insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Quantitative Systematic Strategies LLC raised its position in TJX Companies, Inc. (The) by 256.0% in the first quarter. Quantitative Systematic Strategies LLC now owns 16,833 shares of the apparel and home fashions retailer’s stock valued at $1,331,000 after buying an additional 12,105 shares during the last quarter. Nisa Investment Advisors LLC raised its position in TJX Companies, Inc. (The) by 0.8% in the first quarter. Nisa Investment Advisors LLC now owns 243,116 shares of the apparel and home fashions retailer’s stock valued at $19,225,000 after buying an additional 1,846 shares during the last quarter. Patten & Patten Inc. TN purchased a new position in TJX Companies, Inc. (The) during the first quarter valued at about $1,791,000. Armstrong Henry H Associates Inc. raised its position in TJX Companies, Inc. (The) by 6.2% in the first quarter. Armstrong Henry H Associates Inc. now owns 23,235 shares of the apparel and home fashions retailer’s stock valued at $1,837,000 after buying an additional 1,350 shares during the last quarter. Finally, Coastline Trust Co raised its position in TJX Companies, Inc. (The) by 31.5% in the first quarter. Coastline Trust Co now owns 4,945 shares of the apparel and home fashions retailer’s stock valued at $391,000 after buying an additional 1,185 shares during the last quarter. Institutional investors and hedge funds own 89.56% of the company’s stock.
TJX Companies, Inc. (The) Company Profile
The TJX Companies, Inc (TJX) is an off-price apparel and home fashions retailer in the United States and across the world. The Company operates through four segments: Marmaxx, HomeGoods, TJX Canada and TJX International. T.J. Maxx and Marshalls chains in the United States were collectively the off-price retailer in the United States with a total of 2,221 stores, as of January 28, 2017.
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