TJX Companies (NYSE:TJX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Tuesday, Zacks.com reports.

According to Zacks, “TJX Companies has outperformed the industry in a year, courtesy of impressive comps record. Comps have been gaining from continued rise in consumer traffic and strong merchandising policies. These factors along with TJX Companies’ off-price model, strategic store locations and impressive brands have been driving its store and online performance. This was visible in the company’s fourth-quarter fiscal 2019 results, wherein customer traffic rose for the 18th straight time. Consumers’ favorable response to the company’s solid assortments keeps management encouraged about witnessing continued growth, evident from the favorable 2020 view. Also, the company’s new buyback and dividend hike reflect its solid financial status. However, the company has been witnessing high wage costs, which along with elevated freight costs are expected to hurt EPS growth in fiscal 2020. Also, currency woes are likely to impede growth.”

A number of other equities analysts have also recently commented on the stock. Cfra raised shares of TJX Companies to a “buy” rating and set a $60.00 price objective for the company in a research note on Thursday, February 28th. Credit Suisse Group lifted their price objective on shares of TJX Companies from $50.00 to $55.00 and gave the stock a “neutral” rating in a research note on Thursday, February 28th. Argus lifted their price objective on shares of TJX Companies to $62.00 and gave the stock a “buy” rating in a research note on Thursday, April 11th. Telsey Advisory Group raised shares of TJX Companies from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $51.00 to $56.00 in a research note on Thursday, January 31st. Finally, Barclays set a $56.00 price objective on shares of TJX Companies and gave the stock a “hold” rating in a research note on Thursday, February 28th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and seventeen have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $55.87.

TJX traded up $0.48 during trading on Tuesday, hitting $53.45. 382,175 shares of the company traded hands, compared to its average volume of 5,866,139. The stock has a market capitalization of $64.43 billion, a price-to-earnings ratio of 25.30, a PEG ratio of 1.86 and a beta of 0.66. TJX Companies has a 1 year low of $41.49 and a 1 year high of $56.64. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.70 and a current ratio of 1.53.

TJX Companies (NYSE:TJX) last issued its quarterly earnings data on Wednesday, February 27th. The apparel and home fashions retailer reported $0.59 EPS for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.09). TJX Companies had a return on equity of 57.42% and a net margin of 7.85%. The business had revenue of $11.13 billion during the quarter, compared to analysts’ expectations of $11.01 billion. During the same period in the previous year, the business earned $1.30 earnings per share. The business’s quarterly revenue was up 1.5% on a year-over-year basis. On average, equities research analysts forecast that TJX Companies will post 2.61 earnings per share for the current year.

TJX Companies announced that its board has initiated a stock buyback program on Wednesday, February 27th that permits the company to repurchase $2.25 billion in shares. This repurchase authorization permits the apparel and home fashions retailer to buy up to 3.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

In other news, Director Amy B. Lane sold 1,625 shares of the firm’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $53.00, for a total value of $86,125.00. Following the completion of the sale, the director now owns 29,467 shares in the company, valued at approximately $1,561,751. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Kenneth Canestrari sold 25,000 shares of the firm’s stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $54.97, for a total transaction of $1,374,250.00. Following the completion of the sale, the executive vice president now owns 134,675 shares of the company’s stock, valued at approximately $7,403,084.75. The disclosure for this sale can be found here. Insiders sold a total of 109,498 shares of company stock valued at $5,933,022 in the last 90 days. Company insiders own 0.18% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in TJX. Vanguard Group Inc raised its holdings in TJX Companies by 1.2% during the third quarter. Vanguard Group Inc now owns 49,232,312 shares of the apparel and home fashions retailer’s stock worth $5,515,004,000 after acquiring an additional 593,647 shares in the last quarter. BKD Wealth Advisors LLC raised its holdings in TJX Companies by 103.8% during the fourth quarter. BKD Wealth Advisors LLC now owns 7,040 shares of the apparel and home fashions retailer’s stock worth $315,000 after acquiring an additional 3,585 shares in the last quarter. Wendell David Associates Inc. raised its holdings in TJX Companies by 98.9% during the fourth quarter. Wendell David Associates Inc. now owns 421,966 shares of the apparel and home fashions retailer’s stock worth $18,879,000 after acquiring an additional 209,868 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in TJX Companies by 88.4% during the fourth quarter. Nisa Investment Advisors LLC now owns 488,953 shares of the apparel and home fashions retailer’s stock worth $21,876,000 after acquiring an additional 229,373 shares in the last quarter. Finally, Arcadia Investment Management Corp MI raised its holdings in TJX Companies by 100.0% during the fourth quarter. Arcadia Investment Management Corp MI now owns 1,018 shares of the apparel and home fashions retailer’s stock worth $46,000 after acquiring an additional 509 shares in the last quarter. Institutional investors own 91.42% of the company’s stock.

About TJX Companies

The TJX Companies, Inc operates as an off-price apparel and home fashions retailer. It operates through four segments: Marmaxx, HomeGoods, TJX Canada, and TJX International. The company sells family apparel, including footwear and accessories; home fashions, such as home basics, furniture, rugs, lighting products, giftware, soft home products, decorative accessories, tabletop, and cookware, as well as expanded pet, kids, and gourmet food departments; jewelry and accessories; footwear; and other merchandise.

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