Posted by admin on Jun 30th, 2022

The Container Store Group (NYSE:TCS – Get Rating) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Thursday.

Several other equities research analysts have also commented on TCS. Lake Street Capital assumed coverage on The Container Store Group in a research report on Wednesday, April 13th. They set a “buy” rating and a $10.00 target price on the stock. The Goldman Sachs Group cut their target price 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.

NYSE TCS opened at $6.75 on Thursday. The business’s 50-day moving average price is $7.45 and its two-hundred day moving average price is $8.61. The Container Store Group has a 12 month low of $6.70 and a 12 month high of $14.25. The firm has a market capitalization of $341.73 million, a PE ratio of 4.17 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.

The Container Store Group (NYSE:TCS – Get Rating) last released its quarterly earnings results on Tuesday, May 17th. The specialty retailer reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.14. The Container Store Group had a return on equity of 20.73% and a net margin of 7.47%. The firm had revenue of $305.55 million for the quarter, compared to analyst estimates of $281.32 million. During the same quarter in the previous year, the company posted $0.71 EPS. As a group, analysts forecast that The Container Store Group will post 1.25 earnings per share for the current fiscal year.

In other news, CEO Satish Malhotra purchased 14,600 shares of the company’s stock in a transaction that occurred on Thursday, June 16th. The shares were acquired at an average cost of $6.83 per share, with a total value of $99,718.00. Following the purchase, the chief executive officer now owns 466,801 shares in the company, valued at $3,188,250.83. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 35.40% of the stock is currently owned by corporate insiders.

Hedge funds have recently bought and sold shares of the company. GHP Investment Advisors Inc. bought a new position in shares of The Container Store Group in the first quarter valued at approximately $41,000. Retirement Planning Co of New England Inc. bought a new position in shares of The Container Store Group in the fourth quarter valued at approximately $52,000. Allspring Global Investments Holdings LLC bought a new position in shares of The Container Store Group in the fourth quarter valued at approximately $52,000. Denali Advisors LLC bought a new position in shares of The Container Store Group in the fourth quarter valued at approximately $56,000. Finally, Patriot Financial Group Insurance Agency LLC lifted its holdings in shares of The Container Store Group by 1,090.0% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 5,950 shares of the specialty retailer’s stock valued at $49,000 after purchasing an additional 5,450 shares in the last quarter. Institutional investors own 84.83% of the company’s stock.

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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