TJX Companies (TJX) Downgraded by Zacks Investment Research

TJX Companies (NYSE:TJX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Monday.

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.”

TJX has been the subject of a number of other research reports. Nomura lowered their price target on shares of TJX Companies from $80.00 to $75.00 and set a “buy” rating for the company in a report on Wednesday, November 15th. Morgan Stanley lowered their price target on shares of TJX Companies from $86.00 to $85.00 and set an “overweight” rating for the company in a report on Wednesday, November 15th. Royal Bank of Canada set a $70.00 price target on shares of TJX Companies and gave the company an “outperform” rating in a report on Tuesday, November 14th. Jefferies Group reaffirmed a “hold” rating and issued a $75.00 price target on shares of TJX Companies in a report on Thursday, September 28th. Finally, BMO Capital Markets set a $85.00 price target on shares of TJX Companies and gave the company a “buy” rating in a report on Wednesday, November 15th. Five analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. TJX Companies presently has a consensus rating of “Buy” and a consensus target price of $82.53.

TJX Companies (TJX) traded up $0.57 on Monday, hitting $79.46. 4,368,336 shares of the company’s stock traded hands, compared to its average volume of 3,778,193. TJX Companies has a twelve month low of $66.44 and a twelve month high of $80.92. The company has a market cap of $50,560.00, a P/E ratio of 21.48, a PEG ratio of 1.89 and a beta of 0.75. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.53 and a quick ratio of 0.67.

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

A number of institutional investors have recently bought and sold shares of TJX. Cannell Peter B & Co. Inc. raised its position in TJX Companies by 32.9% in the 2nd quarter. Cannell Peter B & Co. Inc. now owns 298,260 shares of the apparel and home fashions retailer’s stock worth $21,525,000 after purchasing an additional 73,760 shares during the period. Sphera Funds Management LTD. raised its position in TJX Companies by 8.8% in the 2nd quarter. Sphera Funds Management LTD. now owns 24,700 shares of the apparel and home fashions retailer’s stock worth $1,783,000 after purchasing an additional 2,000 shares during the period. MUFG Securities EMEA plc purchased a new stake in TJX Companies in the 2nd quarter worth about $7,217,000. Synovus Financial Corp raised its position in TJX Companies by 50.8% in the 2nd quarter. Synovus Financial Corp now owns 6,931 shares of the apparel and home fashions retailer’s stock worth $499,000 after purchasing an additional 2,336 shares during the period. Finally, Northern Capital Management LLC purchased a new stake in TJX Companies in the 2nd quarter worth about $2,875,000. 90.59% of the stock is currently owned by institutional investors.

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About TJX Companies

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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