Why TJX Companies, Inc (NYSE: TJX) Stock Might Be A Good Investment

TJX Companies, Inc (NYSE:TJX) traded at $112.39 at close of the session on Friday, November 01 and made a downward move of -0.57% on its previous day’s price.

Looking at the stock we see that its previous close was $113.03 and the beta (5Y monthly) reads 0.888 with the day’s price range being $112.375 – $113.88. The company has a trailing 12-month PE ratio of 27.14. In terms of its 52-week price range, TJX has a high of $121.13 and a low of $87.22. The company’s stock has lost about -2.32% over that past 30 days.

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TJX Companies, Inc has a market cap of $126.04 billion and is expected to release its quarterly earnings report in December. With its Forward Dividend at 1.42 and a yield of 1.26%, the company’s investors could be anxious for the TJX stock to gain ahead of the earnings release.

On the other hand, looking at the outlook for the TJX stock, short term indicators assign the stock an average of Hold, while medium term indicators assign it an average of 50% Buy.

Based on estimates by 15 analysts, where scores have ranged from 1.00 for a strong buy to 5.00 for a strong sell, 2 have rated the TJX Companies, Inc (TJX) stock as a Hold, while 13 rate it as a Buy. 0 analyst(s) rate it as overweight while 0 of them rated it as underweight, whereas 0 suggest the stock as a Sell. The stock has an overall rating of Buy and investors could take advantage and scoop up stock of the company.

Looking further, we note that the PEG ratio for the TJX stock currently stands at 3.08, and the current price level is -1.85% off its SMA20 and -3.50% from its 50-day simple moving average. The RSI (14) is pointing at 36.57 while the volatility over the past week is 1.46% and jumps to 1.44% over the past one month. The beta value is 0.89, while the average true range (ATR) is currently pointing at 1.62. The average price target for the stock over the next 12 months is $95, with the estimates having a low of $65 and a high of $136. These price ends are 42.17% and -21.01% off the current price level respectively, although investors could be excited at the prospect of a 15.47% if the TJX share price touches on the median price of $95.

Coming back to TJX Companies, Inc (NYSE:TJX), we note that the average 3-month trading volume was 4.84 million, while that of the preceding 10-day period stands at 3.72 million. Current shares outstanding are 1.13 billion.

The insiders hold 0.13% of the company’s shares while institutions hold 92.44%. The data shows that short shares as of 2024-10-15, stood at 13.66 million at a short ratio of 2.92. This represents a 121.00 short interest in shares outstanding on 2024-10-15. Shares short rose in October from the previous month at 10.78 million. Investors should be excited about this stock as its upside potential is great, with current price pushing the stock 19.81% up in year-to-date price movement.

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