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

According to Zacks, “TJX Companies has outperformed the industry in a year, courtesy of its 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 third-quarter fiscal 2019 results, wherein the top and bottom lines grew year over year and beat estimates, and customer traffic rose for the 17th straight time. The company began the fourth quarter on a strong note, which along with its constant sales-driving efforts, solid holiday season prospects and expected market share gains led to a raised view. However, the company has long been witnessing high wage costs, which along with elevated freight costs are expected to hurt margins in fiscal 2019. Also, currency woes pose threats.”

A number of other equities analysts have also recently issued reports on TJX. ValuEngine cut TJX Companies from a “sell” rating to a “strong sell” rating in a report on Wednesday, November 7th. Barclays set a $59.00 price target on TJX Companies and gave the stock a “hold” rating in a report on Thursday, November 8th. MKM Partners set a $58.00 price target on TJX Companies and gave the stock a “buy” rating in a report on Friday, November 30th. Cowen set a $59.00 price target on TJX Companies and gave the stock a “buy” rating in a report on Wednesday, November 21st. Finally, Argus upgraded TJX Companies from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a report on Thursday, November 29th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and eighteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $53.54.

TJX stock traded up $0.14 during trading on Monday, hitting $49.08. The company had a trading volume of 1,601,363 shares, compared to its average volume of 5,810,400. TJX Companies has a one year low of $36.41 and a one year high of $56.64. The stock has a market capitalization of $60.35 billion, a PE ratio of 24.29, a PEG ratio of 1.69 and a beta of 0.67. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.55 and a quick ratio of 0.63.

TJX Companies (NYSE:TJX) last announced its earnings results on Tuesday, November 20th. The apparel and home fashions retailer reported $0.63 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.02. TJX Companies had a return on equity of 59.74% and a net margin of 7.98%. The business had revenue of $9.83 billion for the quarter, compared to analysts’ expectations of $9.50 billion. During the same period in the prior year, the business posted $1.00 earnings per share. The firm’s revenue was up 12.1% on a year-over-year basis. As a group, research analysts expect that TJX Companies will post 2.44 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp grew its stake in TJX Companies by 3.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 19,231,563 shares of the apparel and home fashions retailer’s stock valued at $1,830,461,000 after purchasing an additional 715,960 shares during the period. Winslow Evans & Crocker Inc. grew its stake in TJX Companies by 2.1% in the 3rd quarter. Winslow Evans & Crocker Inc. now owns 53,418 shares of the apparel and home fashions retailer’s stock valued at $5,986,000 after purchasing an additional 1,106 shares during the period. Stock Yards Bank & Trust Co. grew its stake in TJX Companies by 0.5% in the 3rd quarter. Stock Yards Bank & Trust Co. now owns 127,741 shares of the apparel and home fashions retailer’s stock valued at $14,309,000 after purchasing an additional 648 shares during the period. Tandem Investment Advisors Inc. grew its stake in TJX Companies by 0.4% in the 3rd quarter. Tandem Investment Advisors Inc. now owns 141,514 shares of the apparel and home fashions retailer’s stock valued at $15,852,000 after purchasing an additional 573 shares during the period. Finally, Gardiner Nancy B bought a new position in TJX Companies in the 3rd quarter valued at $498,000. 50.70% of the stock is owned by institutional investors and hedge funds.

TJX Companies Company Profile

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, accent furniture, lamps, rugs, wall d├ęcor, decorative accessories, giftware, lighting, soft home, tabletop, and cookware, as well as expanded pet, kids, and gourmet food departments; jewelry; and other merchandise.

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Analyst Recommendations for TJX Companies (NYSE:TJX)

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