TJX Companies (TJX) Raised to “Strong-Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of TJX Companies (NYSE:TJX) from a hold rating to a strong-buy rating in a research note issued to investors on Friday morning. Zacks Investment Research currently has $88.00 price target 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, which fuelled third-quarter results, have helped the company's stock gain 11.5% in the past six months. However,  the industry rallied about 25.4% in the same time frame. Further,  TJX Companies has been witnessing high wage costs for quite sometime now. Unfortunately, management expects this to linger and hurt earnings growth by 2% in fiscal 2018. Nevertheless, management stated that it began the fourth quarter on a strong note, with its solid inventory position keeping it well placed for the holiday season.”

Several other research firms have also recently commented on TJX. Goldman Sachs Group cut TJX Companies from a conviction-buy rating to a buy rating and set a $79.00 target price for the company. in a research note on Tuesday, December 5th. Wells Fargo & Co cut TJX Companies from an outperform rating to a market perform rating and lowered their target price for the company from $76.00 to $72.00 in a research note on Wednesday, January 3rd. Nomura reissued a buy rating and issued a $87.00 target price (up from $75.00) on shares of TJX Companies in a research note on Wednesday, January 17th. Cowen set a $88.00 target price on TJX Companies and gave the company a buy rating in a research note on Wednesday, December 13th. Finally, Guggenheim reissued a buy rating and issued a $86.00 target price on shares of TJX Companies in a research note on Friday, December 15th. Four research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of Buy and an average price target of $82.11.

Shares of TJX Companies (NYSE:TJX) opened at $77.88 on Friday. The company has a market capitalization of $49,550.00, a price-to-earnings ratio of 21.05, a PEG ratio of 1.65 and a beta of 0.73. TJX Companies has a 52 week low of $66.44 and a 52 week high of $81.46. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.53 and a quick ratio of 0.67.

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 8th. Stockholders of record on Thursday, February 15th will be given a $0.3125 dividend. The ex-dividend date of this dividend is Wednesday, February 14th. This represents a $1.25 annualized dividend and a dividend yield of 1.61%. TJX Companies’s dividend payout ratio is currently 33.78%.

Several large investors have recently bought and sold shares of TJX. Gotham Asset Management LLC boosted its position in shares of TJX Companies by 35.2% in the 2nd quarter. Gotham Asset Management LLC now owns 415,909 shares of the apparel and home fashions retailer’s stock worth $30,016,000 after purchasing an additional 108,286 shares during the last quarter. Maverick Capital Ltd. boosted its position in shares of TJX Companies by 53.0% in the 2nd quarter. Maverick Capital Ltd. now owns 54,890 shares of the apparel and home fashions retailer’s stock worth $3,961,000 after purchasing an additional 19,020 shares during the last quarter. Scholtz & Company LLC boosted its position in shares of TJX Companies by 4.0% in the 2nd quarter. Scholtz & Company LLC now owns 28,715 shares of the apparel and home fashions retailer’s stock worth $2,072,000 after purchasing an additional 1,115 shares during the last quarter. Cubist Systematic Strategies LLC boosted its position in shares of TJX Companies by 22.9% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 25,747 shares of the apparel and home fashions retailer’s stock worth $1,858,000 after purchasing an additional 4,792 shares during the last quarter. Finally, C M Bidwell & Associates Ltd. boosted its position in shares of TJX Companies by 1.2% in the 2nd quarter. C M Bidwell & Associates Ltd. now owns 4,095 shares of the apparel and home fashions retailer’s stock worth $296,000 after purchasing an additional 50 shares during the last quarter. Institutional investors and hedge funds own 89.67% of the company’s stock.

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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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