Tuesday Morning (TUES) Lifted to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Tuesday Morning (NASDAQ:TUES) from a sell rating to a hold rating in a report published on Saturday, January 6th.

According to Zacks, “Tuesday Morning Corp. is a closeout retailer of upscale home furnishings, gifts and related items in the U.S. They operate their stores during eight annual sales events, while closing them for the remaining weeks of the year. They specialize in first quality, brand name merchandise such as Ralph Lauren bed linens, Waterman pens, Limoges hand-decorated boxes, Steinbach collectible nutcrackers, Steiff stuffed animals, Royal Dalton china and giftware, Farberware cookware, Martex bathtowels, Samsonite luggage, Spode china, Madame Alexander dolls and many others. “

Separately, B. Riley restated a hold rating and issued a $3.30 price target on shares of Tuesday Morning in a research report on Friday, October 27th.

Tuesday Morning (NASDAQ:TUES) traded up $0.15 during trading on Friday, reaching $3.10. The company’s stock had a trading volume of 174,027 shares, compared to its average volume of 215,283. Tuesday Morning has a 12-month low of $1.60 and a 12-month high of $4.50. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.12 and a current ratio of 1.70. The firm has a market cap of $142.11, a PE ratio of -3.60 and a beta of 1.97.

Tuesday Morning (NASDAQ:TUES) last announced its quarterly earnings data on Thursday, November 2nd. The company reported ($0.28) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.20) by ($0.08). Tuesday Morning had a negative net margin of 3.69% and a negative return on equity of 17.31%. The firm had revenue of $218.76 million during the quarter, compared to the consensus estimate of $216.39 million. During the same quarter in the previous year, the business posted ($0.20) earnings per share. The firm’s quarterly revenue was up 3.2% on a year-over-year basis. sell-side analysts expect that Tuesday Morning will post -0.51 earnings per share for the current year.

In other Tuesday Morning news, Director Sherry M. Smith acquired 13,084 shares of the company’s stock in a transaction that occurred on Wednesday, November 15th. The shares were acquired at an average price of $2.75 per share, with a total value of $35,981.00. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 4.60% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in TUES. GSA Capital Partners LLP boosted its stake in shares of Tuesday Morning by 8.5% in the third quarter. GSA Capital Partners LLP now owns 367,800 shares of the company’s stock valued at $1,177,000 after buying an additional 28,900 shares during the period. California Public Employees Retirement System increased its holdings in shares of Tuesday Morning by 22.6% during the third quarter. California Public Employees Retirement System now owns 396,142 shares of the company’s stock worth $1,268,000 after buying an additional 73,142 shares in the last quarter. Wells Fargo & Company MN increased its holdings in shares of Tuesday Morning by 281.5% during the third quarter. Wells Fargo & Company MN now owns 36,612 shares of the company’s stock worth $117,000 after buying an additional 27,016 shares in the last quarter. Citadel Advisors LLC acquired a new position in shares of Tuesday Morning during the third quarter worth $143,000. Finally, SG Capital Management LLC acquired a new position in shares of Tuesday Morning during the third quarter worth $583,000. 71.23% of the stock is currently owned by hedge funds and other institutional investors.

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About Tuesday Morning

Tuesday Morning Corporation is an off-price retailer. The Company specializes in selling discounted, upscale decorative home accessories, housewares, seasonal goods and famous-maker gifts. The Company operated 751 stores in 40 states in the United States, as of June 30, 2016. The Company offers products in a range of categories, such as home decor, furniture, bed and bath, kitchen, toys, crafts, pets and seasonal goods.

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