Citigroup Begins Coverage on Tile Shop (TTS)

Citigroup started coverage on shares of Tile Shop (NASDAQ:TTS) in a report released on Wednesday morning, Marketbeat reports. The brokerage issued a buy rating and a $9.00 price target on the stock.

Several other brokerages have also recently weighed in on TTS. BidaskClub cut shares of Tile Shop from a hold rating to a sell rating in a research report on Wednesday, August 29th. Piper Jaffray Companies reaffirmed a hold rating and issued a $10.00 price target on shares of Tile Shop in a research report on Friday, July 20th. CJS Securities raised shares of Tile Shop to a buy rating in a research report on Tuesday, September 18th. Stifel Nicolaus raised their price target on shares of Tile Shop from $7.00 to $10.00 and gave the company a hold rating in a research report on Friday, July 20th. Finally, Telsey Advisory Group raised their price target on shares of Tile Shop from $4.50 to $5.50 and gave the company an underperform rating in a research report on Friday, July 20th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus target price of $8.42.

Shares of TTS stock traded down $0.09 on Wednesday, reaching $6.49. 543,898 shares of the company were exchanged, compared to its average volume of 711,965. Tile Shop has a one year low of $5.15 and a one year high of $10.50. The stock has a market capitalization of $376.84 million, a PE ratio of 20.28, a price-to-earnings-growth ratio of 1.27 and a beta of 1.79. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.83 and a quick ratio of 0.34.

Tile Shop (NASDAQ:TTS) last announced its quarterly earnings results on Thursday, July 19th. The company reported $0.10 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.01. Tile Shop had a net margin of 1.17% and a return on equity of 6.28%. The business had revenue of $92.90 million for the quarter, compared to analysts’ expectations of $90.71 million. During the same quarter last year, the firm earned $0.15 EPS. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, analysts anticipate that Tile Shop will post 0.23 earnings per share for the current fiscal year.

In other news, Director Peter J. Jacullo III acquired 21,077 shares of the firm’s stock in a transaction on Thursday, September 13th. The stock was purchased at an average price of $7.14 per share, for a total transaction of $150,489.78. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 25.90% of the company’s stock.

Large investors have recently bought and sold shares of the business. Wells Fargo & Company MN increased its stake in shares of Tile Shop by 34.3% during the 1st quarter. Wells Fargo & Company MN now owns 699,779 shares of the company’s stock worth $4,198,000 after purchasing an additional 178,630 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Tile Shop by 133.1% during the 1st quarter. JPMorgan Chase & Co. now owns 311,448 shares of the company’s stock worth $1,869,000 after purchasing an additional 177,850 shares during the last quarter. New York State Common Retirement Fund increased its stake in shares of Tile Shop by 24.6% during the 1st quarter. New York State Common Retirement Fund now owns 75,441 shares of the company’s stock worth $453,000 after purchasing an additional 14,878 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Tile Shop by 22.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,603,390 shares of the company’s stock worth $9,620,000 after purchasing an additional 290,943 shares during the last quarter. Finally, OppenheimerFunds Inc. increased its stake in shares of Tile Shop by 39.9% during the 1st quarter. OppenheimerFunds Inc. now owns 35,462 shares of the company’s stock worth $213,000 after purchasing an additional 10,117 shares during the last quarter. Hedge funds and other institutional investors own 64.49% of the company’s stock.

Tile Shop Company Profile

Tile Shop Holdings, Inc operates as a specialty retailer of manufactured and natural stone tiles, setting and maintenance materials, and related accessories in the United States. It offers approximately 4,000 products, including marble, travertine, granite, quartz, sandstone, slate, and onyx tiles; and ceramic, porcelain, glass, cement, wood look, and metal tiles primarily under the Rush River and Fired Earth brands.

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Analyst Recommendations for Tile Shop (NASDAQ:TTS)

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