The TJX Companies Upgraded by SunTrust to “Buy” (TJX)

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The TJX Companies (NYSE:TJX) was upgraded by stock analysts at SunTrust from a “neutral” rating to a “buy” rating in a report issued on Wednesday, TheFlyOnTheWall.com reports. The firm currently has a $65.00 price target on the stock. SunTrust’s price objective would suggest a potential upside of 17.18% from the stock’s previous close.

The analysts wrote, “we have been waiting for a pullback to become more constructive and are taking advantage of this opportunity given ongoing domestic/international growth, leadership position within the off-price group, online infancy and a best-in-class management team.”

A number of other analysts have also recently weighed in on TJX. Analysts at FBR Capital Markets cut their price target on shares of The TJX Companies from $69.00 to $64.00 in a research note on Wednesday. They now have an “outperform” rating on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of The TJX Companies in a research note on Thursday, April 3rd. They now have a $65.00 price target on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of The TJX Companies in a research note on Thursday, February 27th. They now have a $63.00 price target on the stock. Nine equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $62.30.

The TJX Companies (NYSE:TJX) opened at 55.47 on Wednesday. The TJX Companies has a 1-year low of $48.71 and a 1-year high of $64.38. The stock has a 50-day moving average of $58.63 and a 200-day moving average of $60.60. The company has a market cap of $39.033 billion and a price-to-earnings ratio of 18.87.

The TJX Companies (NYSE:TJX) last issued its quarterly earnings data on Tuesday, May 20th. The company reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by $0.03. The company had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.60 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 4.9% on a year-over-year basis. On average, analysts predict that The TJX Companies will post $3.15 earnings per share for the current fiscal year.

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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