TJX Company announces CEO succession plan

With its focus on low prices, TJX held up better than other retailers during the recession and the shaky economy that followed. The average 1-year price objective among analysts that have issued a report on the stock in the a year ago is $78.66.

According to data compiled by Thomson Reuters, The TJX Companies (NYSE:TJX)’s stock is covered by 21 equity analysts across the Street, with 0 analysts giving it a Sell rating, 17 a Buy rating, while 10 consider it a Hold.

Additionally, Citigroup initiated coverage on the stock with a “buy” rating and a $88 price target, citing high return-on-investment capital and “one of the most visible and longest duration growth opportunities in retail today”, according to an analyst note.

Shares of TJX Companies Inc (NYSE:TJX), finished its last exchange with 1.60% pick up, and shut at $71.90. The firm’s 50-day moving average price is $71.20 and its 200-day moving average price is $68.50. The shares gained 3.2 percent this year through Tuesday. The share price can be expected to fluctuate from the mean short term target, can be seen from the standard deviation reading of $5.9.

Now the company Insiders own 0.4% of The TJX Companies, Inc.

At the end of Wednesday’s trade, Shares of Discover Financial Services (NYSE:DFS), inclined 1.26% to $55.25. The company has a market cap of $48.49 billion and a price-to-earnings ratio of 21.95. During the same period in the prior year, the business earned $0.75 earnings per share.

Under the CEO succession plan approved by the board, Herrman will assume the role of CEO at the beginning of the company’s next fiscal year on January 31, 2016.

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 3rd. The ex-dividend date of this dividend is Monday, November 9th. S&P 500 has rallied 0.84% during the last 52-weeks. Finally, SunTrust raised their price target on shares of TJX Companies from $80.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, August 19th. TJX is a great company, with Associates across the globe dedicated to our value mission, and, most importantly, a culture anchored by our integrity. (NYSE:TJX) is an off-price clothing and home fashions retailer in the United States and global. The Company operates through four sections: TJX Europe and Marmaxx, HomeGoods, TJX Canada. The Marmaxx and HomeGoods company offers home trends, family apparel, accent furniture, lamps, carpets, wall decor, decorative accessories and giftware and other products. TJX’s shares were trading around $14 when Meyrowitz took over the post in January 2007.

To view Vetr’s full report, visit Vetr’s official website.