Container Store Group Inc (NYSE:TCS)’s share price dropped 12.3% during mid-day trading on Wednesday . The stock traded as low as $6.11 and last traded at $6.22. Approximately 1,797,996 shares traded hands during mid-day trading, an increase of 380% from the average daily volume of 374,439 shares. The stock had previously closed at $7.09.
TCS has been the subject of several research reports. Goldman Sachs Group lowered shares of Container Store Group from a “neutral” rating to a “sell” rating and increased their price target for the stock from $2.25 to $3.00 in a research note on Tuesday, August 4th. Zacks Investment Research lowered shares of Container Store Group from a “hold” rating to a “sell” rating in a research note on Friday, July 31st. ValuEngine upgraded shares of Container Store Group from a “hold” rating to a “buy” rating in a research note on Wednesday, July 29th. Finally, TheStreet lowered shares of Container Store Group from a “c” rating to a “d+” rating in a research note on Wednesday, July 29th.
The company has a debt-to-equity ratio of 2.27, a quick ratio of 0.60 and a current ratio of 1.16. The business’s 50 day simple moving average is $4.25 and its two-hundred day simple moving average is $3.21.
Container Store Group (NYSE:TCS) last released its quarterly earnings data on Tuesday, July 28th. The specialty retailer reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.07). The firm had revenue of $151.69 million for the quarter. Container Store Group had a net margin of 0.22% and a return on equity of 1.26%. On average, equities research analysts predict that Container Store Group Inc will post 0.01 earnings per share for the current year.
Several hedge funds have recently made changes to their positions in TCS. Towle & Co. grew its stake in shares of Container Store Group by 102.3% in the first quarter. Towle & Co. now owns 1,659,960 shares of the specialty retailer’s stock worth $3,918,000 after acquiring an additional 839,490 shares during the period. Weber Alan W bought a new position in Container Store Group during the first quarter valued at $1,109,000. Bank of America Corp DE increased its position in Container Store Group by 4.5% during the second quarter. Bank of America Corp DE now owns 3,005,080 shares of the specialty retailer’s stock valued at $9,737,000 after acquiring an additional 130,236 shares during the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of Container Store Group during the second quarter valued at $355,000. Finally, BlackRock Inc. boosted its stake in shares of Container Store Group by 3.0% during the first quarter. BlackRock Inc. now owns 1,178,020 shares of the specialty retailer’s stock valued at $2,780,000 after purchasing an additional 34,614 shares during the period. Hedge funds and other institutional investors own 83.80% of the company’s stock.
About Container Store Group (NYSE:TCS)
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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