Tile Shop Hldgs Given “Neutral” Rating at Citigroup Inc. (TTS)
Tile Shop Hldgs (NYSE:TTS)‘s stock had its “neutral” rating reiterated by analysts at Citigroup Inc. in a research report issued to clients and investors on Tuesday, Analyst Ratings News reports. They currently have a $18.00 price target on the stock. Citigroup Inc.’s price objective would suggest a potential upside of 13.64% from the company’s current price.
The analysts wrote, “We had the opportunity to meet with mgt in Boston including Rob Rucker, CEO, Chris Homeister, COO and Tim Clayton, CFO. Our restriction was lifted on 12/1. Client questions centered around the recent report which alleges issues with inventory, gross margins and employee relationships with an exporter company. TTS set up an export entity after an agency they had worked with produced false invoices. The co set up the new entity (~Beijing Pingxiu) under CEO Robert Rucker’s nephew’s name who they believed was trustworthy and not an employee of the firm. The nephew ran the business until Nov 2011 when Rucker’s brother-in-law took over the reins as the business started to grow significantly. However, the company did not know of this change in ownership until Thu 11/14/13. Although the news does not impact the co’s financials, mgt noted that they would have disclosed the news if they had known and is currently investigating how it came to be.”
Tile Shop Hldgs (NYSE:TTS) traded down 0.69% on Tuesday, hitting $15.73. 76,928 shares of the company’s stock traded hands. Tile Shop Hldgs has a 1-year low of $10.05 and a 1-year high of $30.88. The stock has a 50-day moving average of $20.90 and a 200-day moving average of $25.8. The company’s market cap is $805.3 million.
Tile Shop Hldgs (NYSE:TTS) last announced its earnings results on Wednesday, October 30th. The company reported $0.08 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.10 by $0.02. The company had revenue of $56.80 million for the quarter, compared to the consensus estimate of $57.13 million. During the same quarter in the prior year, the company posted $0.11 earnings per share. The company’s quarterly revenue was up 28.2% on a year-over-year basis. Analysts expect that Tile Shop Hldgs will post $0.43 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Telsey Advisory Group cut their price target on shares of Tile Shop Hldgs from $28.00 to $20.00 in a research note to investors on Friday, November 15th. They now have a “not rated” rating on the stock. Separately, analysts at CJS Securities downgraded shares of Tile Shop Hldgs to a “market perform” rating in a research note to investors on Friday, November 15th. Finally, analysts at Piper Jaffray reiterated an “overweight” rating on shares of Tile Shop Hldgs in a research note to investors on Friday, November 15th. They now have a $30.00 price target on the stock. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $23.43.
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