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The Container Store Group (NYSE:TCS - Get Rating) was upgraded by equities research analysts at StockNews.com from a "hold" rating to a "buy" rating in a note issued to investors on Wednesday.
A number of other analysts have also recently weighed in on the company. Lake Street Capital initiated coverage on The Container Store Group in a research report on Wednesday, April 13th. They set a "buy" rating and a $10.00 price target on the stock. The Goldman Sachs Group dropped their price target on The Container Store Group from $11.50 to $9.00 and set a "neutral" rating on the stock in a research report on Thursday, May 19th. Finally, TheStreet cut The Container Store Group from a "b-" rating to a "c+" rating in a research report on Wednesday, February 23rd.
NYSE TCS traded down $0.02 on Wednesday, hitting $7.06. 263,870 shares of the stock traded hands, compared to its average volume of 640,801. The stock has a 50-day moving average of $7.55 and a 200 day moving average of $8.76. The Container Store Group has a twelve month low of $6.70 and a twelve month high of $14.25. The company has a market capitalization of $357.42 million, a P/E ratio of 4.36 and a beta of 1.24. The company has a current ratio of 1.11, a quick ratio of 0.29 and a debt-to-equity ratio of 0.37.
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The Container Store Group (NYSE:TCS - Get Rating) last announced its quarterly earnings results on Tuesday, May 17th. The specialty retailer reported $0.46 earnings per share for the quarter, topping analysts' consensus estimates of $0.32 by $0.14. The business had revenue of $305.55 million for the quarter, compared to analysts' expectations of $281.32 million. The Container Store Group had a return on equity of 20.73% and a net margin of 7.47%. During the same period in the prior year, the firm earned $0.71 EPS. As a group, equities research analysts expect that The Container Store Group will post 1.25 earnings per share for the current year.
In other The Container Store Group news, CEO Satish Malhotra acquired 14,600 shares of the firm's stock in a transaction that occurred on Thursday, June 16th. The stock was acquired at an average cost of $6.83 per share, with a total value of $99,718.00. Following the acquisition, the chief executive officer now directly owns 466,801 shares of the company's stock, valued at approximately $3,188,250.83. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 35.40% of the company's stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Northern Trust Corp boosted its stake in shares of The Container Store Group by 0.4% during the 4th quarter. Northern Trust Corp now owns 304,242 shares of the specialty retailer's stock worth $3,036,000 after acquiring an additional 1,144 shares in the last quarter. Citigroup Inc. boosted its stake in shares of The Container Store Group by 65.4% during the 3rd quarter. Citigroup Inc. now owns 4,326 shares of the specialty retailer's stock worth $41,000 after acquiring an additional 1,711 shares in the last quarter. Denali Advisors LLC boosted its stake in shares of The Container Store Group by 33.9% during the 1st quarter. Denali Advisors LLC now owns 7,500 shares of the specialty retailer's stock worth $61,000 after acquiring an additional 1,900 shares in the last quarter. Swiss National Bank boosted its stake in shares of The Container Store Group by 3.0% during the 4th quarter. Swiss National Bank now owns 72,300 shares of the specialty retailer's stock worth $722,000 after acquiring an additional 2,100 shares in the last quarter. Finally, JBF Capital Inc. lifted its holdings in shares of The Container Store Group by 6.7% in the fourth quarter. JBF Capital Inc. now owns 51,750 shares of the specialty retailer's stock valued at $1,984,000 after purchasing an additional 3,250 shares in the last quarter. 84.83% of the stock is owned by hedge funds and other institutional investors.
About The Container Store Group (Get Rating)
The Container Store Group, Inc operates as a retailer of storage and organization products and solutions in the United States. The company operates in two segments, The Container Store and Elfa. It provides approximately 11,000 products designed to help customers. Its merchandise category includes custom closets, such as elfa Classic, elfa Decor, Laren, and Avera branded products, as well as closet lifestyle department and wood-based products; wood-based custom home storage and organization solutions; and customized solutions for closets, garages, home offices, pantries, laundry rooms, murphy beds, and built-in wall units.
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