Zacks Investment Research upgraded shares of TJX Companies (NYSE:TJX) from a hold rating to a buy rating in a research report report published on Saturday morning. They currently have $86.00 target price on the apparel and home fashions retailer’s stock.

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.”

A number of other analysts have also recently commented on TJX. Jefferies Group restated a hold rating and set a $75.00 price target on shares of TJX Companies in a research note on Thursday, September 28th. Nomura restated a buy rating and set a $87.00 price target (up from $75.00) on shares of TJX Companies in a research note on Wednesday. Goldman Sachs Group set a $79.00 price target on shares of TJX Companies and gave the company a buy rating in a research note on Wednesday, November 15th. Citigroup dropped their price target on shares of TJX Companies from $88.00 to $81.00 and set a buy rating on the stock in a research note on Wednesday, November 15th. Finally, BMO Capital Markets set a $85.00 price target on shares of TJX Companies and gave the company a buy rating in a research note on Wednesday, November 15th. Four analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. TJX Companies has a consensus rating of Buy and a consensus price target of $82.53.

TJX Companies (TJX) traded up $1.64 on Friday, reaching $78.89. 4,555,475 shares of the company’s stock were exchanged, compared to its average volume of 2,795,916. The company has a current ratio of 1.53, a quick ratio of 0.67 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $49,882.38, a PE ratio of 21.32, a price-to-earnings-growth ratio of 1.89 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 announced its quarterly earnings results on Tuesday, November 14th. The apparel and home fashions retailer reported $1.00 EPS for the quarter, meeting the Zacks’ consensus estimate of $1.00. The company had revenue of $8.76 billion for the quarter, compared to analysts’ expectations of $8.86 billion. TJX Companies had a net margin of 7.01% and a return on equity of 52.79%. TJX Companies’s revenue was up 5.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.91 EPS. sell-side analysts expect that TJX Companies will post 3.93 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 8th. Investors of record on Thursday, February 15th will be issued a dividend of $0.3125 per share. This represents a $1.25 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date is Wednesday, February 14th. TJX Companies’s dividend payout ratio (DPR) is presently 33.78%.

A number of institutional investors have recently bought and sold shares of TJX. Principal Financial Group Inc. increased its holdings in TJX Companies by 12.3% during the 2nd quarter. Principal Financial Group Inc. now owns 1,461,769 shares of the apparel and home fashions retailer’s stock worth $105,497,000 after acquiring an additional 159,758 shares during the period. NBT Bank N A NY increased its holdings in TJX Companies by 1.9% during the 2nd quarter. NBT Bank N A NY now owns 39,643 shares of the apparel and home fashions retailer’s stock worth $2,861,000 after acquiring an additional 753 shares during the period. Pacad Investment Ltd. increased its holdings in TJX Companies by 51.6% during the 2nd quarter. Pacad Investment Ltd. now owns 28,500 shares of the apparel and home fashions retailer’s stock worth $2,057,000 after acquiring an additional 9,700 shares during the period. Bronfman E.L. Rothschild L.P. increased its holdings in TJX Companies by 7.9% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 9,032 shares of the apparel and home fashions retailer’s stock worth $652,000 after acquiring an additional 663 shares during the period. Finally, Swiss National Bank increased its holdings in shares of TJX Companies by 2.6% in the 2nd quarter. Swiss National Bank now owns 2,964,521 shares of the apparel and home fashions retailer’s stock worth $213,949,000 after buying an additional 74,500 shares during the last quarter. 90.40% of the stock is currently owned by institutional investors and hedge funds.

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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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