Zacks reaffirmed their neutral rating on shares of TJX Cos. (NYSE:TJX) in a research note issued to investors on Wednesday, Analyst Ratings News reports. The firm currently has a $66.00 price target on the stock.
Zacks’ analyst wrote, “TJX’s third quarter fiscal 2014 earnings of $0.75 per share beat the Zacks Consensus Estimate by a penny and grew 21% year over year driven by top-line growth and improved margins. Sales grew 9% and beat the Zacks Consensus Estimate on the back of positive comp growth. Management also raised fiscal year guidance to reflect strong momentum of the business. We are encouraged by the company’s strategic initiatives to improve its retail business in North America, Europe and Canada. Moreover, the company’s focus on e-commerce business is also appealing. The company’s low-priced products also work well in the challenging macroeconomic environment. However, rising input costs and lack of international presence prompt us to remain on the sidelines.”
Zacks has also updated their ratings on a number of other consumer discretionary stocks in the last week. The firm reiterated its neutral rating on shares of Urban Outfitters Inc.. They have a $41.00 price target on that stock. Also, Zacks upgraded shares of bebe Stores Inc. from an underperform rating to a neutral rating. Zacks now has a $5.80 price target on that stock.
Shares of TJX Cos. (NYSE:TJX) traded up 0.88% on Wednesday, hitting $63.825. 974,733 shares of the company’s stock traded hands. TJX Cos. has a 52 week low of $40.98 and a 52 week high of $63.93. The stock’s 50-day moving average is $59.20 and its 200-day moving average is $53.98. The company has a market cap of $45.650 billion and a price-to-earnings ratio of 23.23.
TJX Cos. (NYSE:TJX) last announced its earnings results on Tuesday, November 19th. The company reported $0.75 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.74 by $0.01. The company had revenue of $6.98 billion for the quarter, compared to the consensus estimate of $6.91 billion. During the same quarter in the previous year, the company posted $0.62 earnings per share. The company’s revenue for the quarter was up 8.9% on a year-over-year basis. Analysts expect that TJX Cos. will post $2.86 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Lazard Capital Markets reiterated a buy rating on shares of TJX Cos. in a research note to investors on Wednesday. They now have a $66.00 price target on the stock. Separately, analysts at UBS AG reiterated a buy rating on shares of TJX Cos. in a research note to investors on Wednesday. They now have a $73.00 price target on the stock, up previously from $66.00. They noted that the move was a valuation call. Finally, analysts at Goldman Sachs Group Inc. reiterated a neutral rating on shares of TJX Cos. in a research note to investors on Wednesday. They now have a $67.00 price target on the stock, up previously from $64.00. Nine research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. TJX Cos. presently has an average rating of Buy and a consensus price target of $62.13.
The TJX Companies, Inc (NYSE:TJX) is the off-price apparel and home fashions retailer in the United States and worldwide.
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