Container Store Group (NYSE:TCS) was downgraded by investment analysts at JPMorgan Chase & Co. from a “neutral” rating to an “underweight” rating in a note issued to investors on Wednesday, Marketbeat.com reports. They currently have a $6.00 target price on the specialty retailer’s stock. JPMorgan Chase & Co.’s target price would indicate a potential upside of 9.49% from the company’s previous close.
Other research analysts have also issued research reports about the company. Zacks Investment Research raised Container Store Group from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a research report on Friday, August 3rd. TheStreet raised Container Store Group from a “d+” rating to a “c” rating in a research report on Wednesday, October 24th.
TCS stock traded down $0.16 on Wednesday, reaching $5.48. 5,963 shares of the company traded hands, compared to its average volume of 244,489. Container Store Group has a one year low of $3.53 and a one year high of $12.42. The company has a quick ratio of 0.47, a current ratio of 1.24 and a debt-to-equity ratio of 1.23. The firm has a market cap of $490.93 million, a PE ratio of 19.54 and a beta of 1.74.
Container Store Group (NYSE:TCS) last posted its quarterly earnings data on Tuesday, October 30th. The specialty retailer reported $0.10 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.14 by ($0.04). Container Store Group had a net margin of 2.79% and a return on equity of 5.81%. The company had revenue of $224.45 million for the quarter, compared to the consensus estimate of $225.08 million. During the same period last year, the business earned $0.12 EPS. The firm’s quarterly revenue was up 2.8% on a year-over-year basis. On average, research analysts expect that Container Store Group will post 0.46 earnings per share for the current fiscal year.
A number of institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. boosted its stake in Container Store Group by 3.9% during the 2nd quarter. BlackRock Inc. now owns 1,039,535 shares of the specialty retailer’s stock valued at $8,742,000 after purchasing an additional 39,190 shares during the last quarter. Rutabaga Capital Management LLC MA boosted its stake in Container Store Group by 3.8% during the 2nd quarter. Rutabaga Capital Management LLC MA now owns 955,850 shares of the specialty retailer’s stock valued at $8,039,000 after purchasing an additional 34,950 shares during the last quarter. LSV Asset Management boosted its stake in Container Store Group by 18.4% during the 2nd quarter. LSV Asset Management now owns 575,552 shares of the specialty retailer’s stock valued at $4,840,000 after purchasing an additional 89,600 shares during the last quarter. Acadian Asset Management LLC boosted its stake in Container Store Group by 54.3% during the 3rd quarter. Acadian Asset Management LLC now owns 387,470 shares of the specialty retailer’s stock valued at $4,301,000 after purchasing an additional 136,376 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Container Store Group by 16.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 315,381 shares of the specialty retailer’s stock valued at $2,652,000 after purchasing an additional 44,025 shares during the last quarter. Institutional investors and hedge funds own 75.98% of the company’s stock.
About Container Store Group
The Container Store Group, Inc engages in the retailing of storage and organization products and solutions in the United States. The company operates in two segments, The Container Store and Elfa. Its retail stores provide various lifestyle products, including closets, collections, and hooks, as well as bath, kitchen, laundry, gift packaging, long-term storage, office, shelving, storage, trash, travel, and elfa branded products.
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