Zacks Investment Research Upgrades The TJX Cos. (TJX) to “Buy”
The TJX Cos. (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. The firm currently has a $82.00 price target on the apparel and home fashions retailer’s stock. Zacks Investment Research’s target price suggests a potential upside of 11.58% from the stock’s current price.
According to Zacks, “TJX Companies reported third-quarter fiscal 2017 results, wherein earnings of $0.91 per share surpassed the Zacks Consensus Estimate by 4.6% and also increased 5.8% year over year, backed by higher consumer traffic and solid comps growth. Sales marginally beat the Zacks Consensus Estimate and improved 7% year over year, supported by higher comps. Despite unfavourable currency impact, management raised its fiscal 2017 comps and earnings guidance. Overall, the company has been striving to boost sales via aggressive store expansion and upgradation of the e-Commerce business. However, we note that it is experiencing margin pressure due to potential higher payroll and pension related costs. Fierce competition from inline retailers also poses a headwind.”
Other analysts also recently issued research reports about the stock. Wedbush raised their price target on shares of The TJX Cos. from $84.00 to $85.00 and gave the company an “outperform” rating in a report on Wednesday. Stifel Nicolaus lowered their price objective on shares of The TJX Cos. from $92.00 to $86.00 and set a “buy” rating on the stock in a research note on Wednesday. Telsey Advisory Group raised their target price on shares of The TJX Cos. from $78.00 to $80.00 and gave the stock a “market perform” rating in a research note on Wednesday. Jefferies Group reiterated a “hold” rating and set a $77.00 price objective on shares of The TJX Cos. in a research report on Wednesday. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $85.00 price objective on shares of The TJX Cos. in a research report on Thursday, August 18th. Four investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. The TJX Cos. has an average rating of “Buy” and an average target price of $83.12.
Shares of The TJX Cos. (NYSE:TJX) opened at 73.49 on Wednesday. The TJX Cos. has a 12 month low of $63.53 and a 12 month high of $83.64. The company has a market cap of $48.26 billion, a price-to-earnings ratio of 21.34 and a beta of 0.69. The firm has a 50-day moving average of $73.97 and a 200 day moving average of $76.57.
The TJX Cos. (NYSE:TJX) last released its earnings results on Tuesday, November 15th. The apparel and home fashions retailer reported $0.91 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.87 by $0.04. The firm had revenue of $8.29 billion for the quarter, compared to the consensus estimate of $8.23 billion. The TJX Cos. had a net margin of 7.23% and a return on equity of 52.69%. The company’s revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.86 EPS. On average, analysts expect that The TJX Cos. will post $3.48 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Thursday, November 10th will be paid a dividend of $0.26 per share. The ex-dividend date is Tuesday, November 8th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.42%. The TJX Cos.’s payout ratio is 30.15%.
Several large investors have recently modified their holdings of the company. JPMorgan Chase & Co. raised its stake in shares of The TJX Cos. by 28.5% in the third quarter. JPMorgan Chase & Co. now owns 13,526,285 shares of the apparel and home fashions retailer’s stock worth $1,011,496,000 after buying an additional 2,996,299 shares during the last quarter. Two Sigma Advisers LP acquired a new stake in shares of The TJX Cos. during the third quarter worth $202,524,000. The Manufacturers Life Insurance Company acquired a new stake in shares of The TJX Cos. during the third quarter worth $192,116,000. Royal Bank of Canada raised its stake in shares of The TJX Cos. by 22.8% in the second quarter. Royal Bank of Canada now owns 5,523,149 shares of the apparel and home fashions retailer’s stock worth $426,553,000 after buying an additional 1,025,752 shares during the last quarter. Finally, AXA raised its stake in shares of The TJX Cos. by 54.0% in the second quarter. AXA now owns 2,151,009 shares of the apparel and home fashions retailer’s stock worth $166,122,000 after buying an additional 754,365 shares during the last quarter. Institutional investors and hedge funds own 87.81% of the company’s stock.
About The TJX Cos.
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 are collectively the off-price retailer in the United States with a total of approximately 2,163 stores.
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