TJX Cos. reported better than expected earnings on Wednesday and its stock shot up to a record high. The off-price apparel and home fashions giant saw its Relative Strength (RS) Rating climb into a higher percentile Thursday, as it got a lift t0 75, up from 68 the day before.
Framingham, Mass.-based TJX has grown steadily over the years and continues to rise at a measured pace. It recorded a 15% rise in earnings to $1.10 per share on Wednesday, on a 7% hike in revenue to $14.4 billion.
The upgraded 75 RS Rating puts TJX just five points below a major milestone. Market research shows that the market's biggest winners often have an 80 or higher RS Rating as they begin their biggest runs.
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TJX stock is still inside a buying range after clearing a 135.85 buy point in a cup without handle on Wednesday. Once a stock moves 5% or higher beyond the initial entry, it's considered out of buy range.
TJX operates more than 5,000 stores in nine countries.
Its stock has been a Steady Eddie over the years, rising at a steady pace. It sold for 4.45 per share in November 2008 amid the housing market crash, and rose to 32.72 by the end of March 2020 as the Covid crash was ending. The retailer traded at XX Thursday afternoon, giving back part of what it gained when it hit a record high 145.58 Wednesday.
Among its other key ratings TJX has an 86 EPS Rating of a best-possible 99. It also boasts an outstanding 91 Composite Rating. The best growth stocks have a 90 or higher Composite. The A Accumulation/Distribution Rating on an A+ to E scale shows that institutional investors like ETFs and insurance company funds are eager buyers of its stock.
TJX holds the No. 3 rank among its peers in the 31-stock Retail-Apparel/Shoes/Accessories industry group. Urban Outfitters is the No. 1-ranked stock in the group.
The exclusive Relative Strength Rating from Investor's Business Daily identifies market leadership with a 1 (worst) to 99 (best) score. The grade shows how a stock's price movement over the last 52 weeks compares to all the other stocks in our database.
This article was created automatically with Stats Perform's Wordsmith software using data and article templates supplied by Investor's Business Daily. An IBD journalist may have edited the article.
Please follow James DeTar on Twitter @JimDeTar
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