TJX Companies (TJX) Stock Rating Upgraded by Zacks Investment Research

TJX Companies (NYSE:TJX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Saturday. The brokerage currently has a $86.00 target price on the apparel and home fashions retailer’s stock. Zacks Investment Research‘s target price points to a potential upside of 9.01% from the stock’s current price.

According to Zacks, “TJX Companies has been recording year-over-year growth in both top and bottom lines for a while now, thanks to robust consumer traffic and strength in merchandise margins. The company has been gaining from its focus on store expansions, e-commerce efforts, solid merchandise mix and other sales driving initiatives. Further, its strong merchandise margins reflect its focus on inventory management. Notably, these factors drove its performance in third-quarter fiscal 2018. Management further stated that it began the fourth quarter on a strong note, with its solid inventory position keeping it well placed for the holiday season. However, comps in the third quarter were dented by hurricanes, with demand for the Marmaxx apparel being hurt by warm weather. Also, TJX Companies, which has lagged the industry in a year, has been witnessing high wage costs for quite some time now. It also expects this to hurt earnings growth by 2% in fiscal 2018.”

Other research analysts have also recently issued reports about the company. Cowen set a $88.00 price objective on TJX Companies and gave the stock a “buy” rating in a research report on Wednesday, December 13th. Goldman Sachs Group cut TJX Companies from a “conviction-buy” rating to a “buy” rating and set a $79.00 price objective for the company. in a research report on Tuesday, December 5th. Nomura reduced their price objective on TJX Companies from $80.00 to $75.00 and set a “buy” rating for the company in a research report on Wednesday, November 15th. Buckingham Research reduced their price objective on TJX Companies from $85.00 to $82.00 and set a “buy” rating for the company in a research report on Wednesday, November 15th. Finally, BMO Capital Markets set a $85.00 price objective on TJX Companies and gave the stock a “buy” rating in a research report on Wednesday, November 15th. Four analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $82.53.

TJX Companies (TJX) traded up $1.64 during mid-day trading on Friday, hitting $78.89. The stock had a trading volume of 4,563,424 shares, compared to its average volume of 2,795,916. The company has a quick ratio of 0.67, a current ratio of 1.53 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $48,845.37, a PE ratio of 21.32, a P/E/G ratio of 1.85 and a beta of 0.75. TJX Companies has a 52 week low of $66.44 and a 52 week high of $80.92.

TJX Companies (NYSE:TJX) last posted its quarterly earnings data on Tuesday, November 14th. The apparel and home fashions retailer reported $1.00 earnings per share for the quarter, hitting the consensus estimate of $1.00. The company had revenue of $8.76 billion during the quarter, compared to analysts’ expectations of $8.86 billion. TJX Companies had a return on equity of 52.79% and a net margin of 7.01%. TJX Companies’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.91 earnings per share. sell-side analysts anticipate that TJX Companies will post 3.93 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Zions Bancorporation lifted its position in shares of TJX Companies by 185.9% in the third quarter. Zions Bancorporation now owns 1,358 shares of the apparel and home fashions retailer’s stock valued at $100,000 after buying an additional 883 shares during the last quarter. Lenox Wealth Management Inc. acquired a new stake in shares of TJX Companies in the second quarter valued at approximately $141,000. Highlander Capital Management LLC lifted its position in shares of TJX Companies by 31.3% in the second quarter. Highlander Capital Management LLC now owns 2,100 shares of the apparel and home fashions retailer’s stock valued at $150,000 after buying an additional 500 shares during the last quarter. Jacobi Capital Management LLC lifted its position in shares of TJX Companies by 20.2% in the second quarter. Jacobi Capital Management LLC now owns 2,101 shares of the apparel and home fashions retailer’s stock valued at $144,000 after buying an additional 353 shares during the last quarter. Finally, FTB Advisors Inc. lifted its position in shares of TJX Companies by 1.6% in the second quarter. FTB Advisors Inc. now owns 2,235 shares of the apparel and home fashions retailer’s stock valued at $159,000 after buying an additional 36 shares during the last quarter. 90.40% of the stock is owned by institutional investors.

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TJX Companies 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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