Zacks Investment Research lowered shares of Container Store Group (NYSE:TCS) from a buy rating to a hold rating in a research report sent to investors on Saturday morning.
According to Zacks, “The Container Store Group, Inc. operates as a specialty retailer of storage and organization products in the United States. The company operates in two segments, TCS and Elfa. TCS segment consists of its retail stores, ebsite and call center. Elfa segment designs and manufactures component-based shelving and drawer systems that are customizable for any area of the home, including closets, kitchens, offices and garages. The Container Store Group, Inc. is headquartered in Coppell, Texas. “
Other equities analysts also recently issued research reports about the stock. TheStreet raised shares of Container Store Group from a d+ rating to a c rating in a research note on Wednesday, October 24th. ValuEngine downgraded shares of Container Store Group from a hold rating to a sell rating in a research note on Thursday, November 1st. Finally, JPMorgan Chase & Co. downgraded shares of Container Store Group from a neutral rating to an underweight rating and set a $6.00 target price on the stock. in a research note on Wednesday, October 31st.
Shares of TCS stock opened at $6.12 on Friday. Container Store Group has a 52 week low of $3.57 and a 52 week high of $12.42. The company has a current ratio of 1.23, a quick ratio of 0.42 and a debt-to-equity ratio of 1.17. The firm has a market capitalization of $270.98 million, a PE ratio of 21.86 and a beta of 2.25.
Container Store Group (NYSE:TCS) last issued its earnings results on Tuesday, October 30th. The specialty retailer reported $0.10 EPS 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 5.84%. The business had revenue of $224.45 million during the quarter, compared to analysts’ expectations of $225.08 million. During the same period in the prior year, the business posted $0.12 EPS. The business’s revenue was up 2.8% on a year-over-year basis. On average, equities analysts expect that Container Store Group will post 0.42 earnings per share for the current year.
Several hedge funds have recently modified their holdings of TCS. Engineers Gate Manager LP purchased a new stake in Container Store Group during the 2nd quarter worth $132,000. O Shaughnessy Asset Management LLC increased its stake in Container Store Group by 265.3% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 39,606 shares of the specialty retailer’s stock worth $440,000 after buying an additional 28,763 shares during the period. Bank of America Corp DE increased its stake in Container Store Group by 17.9% during the 2nd quarter. Bank of America Corp DE now owns 39,873 shares of the specialty retailer’s stock worth $335,000 after buying an additional 6,064 shares during the period. Jane Street Group LLC purchased a new stake in Container Store Group during the 1st quarter worth $229,000. Finally, Wedge Capital Management L L P NC purchased a new stake in Container Store Group during the 2nd quarter worth $404,000. 75.99% of the stock is currently owned by institutional investors and hedge funds.
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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