TJX Companies, Inc. (The) (TJX) Lifted to Buy at Zacks Investment Research

TJX Companies, Inc. (The) (NYSE:TJX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday, August 9th. The firm presently has a $80.00 price target on the apparel and home fashions retailer’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 13.52% from the company’s current price.

According to Zacks, “TJX Companies has remained focused on business expansion initiatives which includes aggressive store opening strategies and plans to add more categories to the online shopping site. The company regularly opens stores and expands fast across the U.S., Europe and Canada. Its brand enhancing plans in the form of product innovation and marketing campaigns are also appealing. Such initiatives have aided the company to boost its store traffic. Notably, the company has reported positive comparable store sales growth in the past 32 quarters. Additionally, the company also derives much strength from its robust portfolio of products. Estimates for the company have also remained stable ahead of its second quarter fiscal 2018 earnings release. Nevertheless, TJX Companies’ shares have declined in the last three months due to higher payroll and rising product costs, which have been denting its margins.”

Other research analysts have also issued research reports about the stock. Cowen and Company set a $80.00 price objective on shares of TJX Companies, Inc. (The) and gave the company a “buy” rating in a research note on Wednesday, May 17th. Nomura reissued a “buy” rating and issued a $84.00 price objective on shares of TJX Companies, Inc. (The) in a research note on Wednesday, May 17th. Instinet reissued a “buy” rating and issued a $84.00 price objective (down previously from $87.00) on shares of TJX Companies, Inc. (The) in a research note on Wednesday, May 17th. Royal Bank Of Canada set a $79.00 price objective on shares of TJX Companies, Inc. (The) and gave the company a “buy” rating in a research note on Monday, June 19th. Finally, BMO Capital Markets reaffirmed a “buy” rating and issued a $85.00 target price on shares of TJX Companies, Inc. (The) in a report on Thursday, June 8th. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $82.61.

TJX Companies, Inc. (TJX) traded up 0.31% during mid-day trading on Wednesday, reaching $70.47. 6,655,057 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $70.06 and its 200 day moving average price is $74.80. TJX Companies, Inc. has a one year low of $66.66 and a one year high of $80.92. The firm has a market cap of $45.69 billion, a price-to-earnings ratio of 19.95 and a beta of 0.77.

TJX Companies, Inc. (The) (NYSE:TJX) last announced its earnings results on Tuesday, August 15th. The apparel and home fashions retailer reported $0.85 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.84 by $0.01. The company had revenue of $8.36 billion during the quarter, compared to analyst estimates of $8.29 billion. TJX Companies, Inc. (The) had a net margin of 6.83% and a return on equity of 52.87%. TJX Companies, Inc. (The)’s revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.84 earnings per share. On average, equities analysts forecast that TJX Companies, Inc. will post $3.92 EPS 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 dated Thursday, June 1st. The shares were sold at an average price of $75.80, for a total value of $303,200.00. Following the completion of the transaction, the executive vice president now owns 86,243 shares of the company’s stock, valued at approximately $6,537,219.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.23% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Town & Country Bank & Trust CO dba First Bankers Trust CO bought a new position in TJX Companies, Inc. (The) during the first quarter worth approximately $248,000. Atria Investments LLC increased its position in TJX Companies, Inc. (The) by 111.8% in the first quarter. Atria Investments LLC now owns 6,991 shares of the apparel and home fashions retailer’s stock worth $553,000 after buying an additional 3,691 shares in the last quarter. Parametrica Management Ltd bought a new position in TJX Companies, Inc. (The) during the first quarter worth approximately $280,000. Private Bank & Trust Co. increased its position in TJX Companies, Inc. (The) by 110.8% in the first quarter. Private Bank & Trust Co. now owns 8,172 shares of the apparel and home fashions retailer’s stock worth $646,000 after buying an additional 4,295 shares in the last quarter. Finally, Alpha Windward LLC increased its position in TJX Companies, Inc. (The) by 104.3% in the first quarter. Alpha Windward LLC now owns 2,615 shares of the apparel and home fashions retailer’s stock worth $207,000 after buying an additional 1,335 shares in the last quarter. 89.56% of the stock is owned by institutional investors.

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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