Container Store Group Hits New 12-Month Low Following Weak Earnings (TCS)
Container Store Group (NYSE:TCS) shares hit a new 52-week low during mid-day trading on Wednesday following a weaker than expected earnings announcement, AnalystRatingsNetwork.com reports. The stock traded as low as $22.88 and last traded at $24.32, with a volume of 2,395,738 shares traded. The stock had previously closed at $27.07.
The company reported ($0.07) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.06) by $0.01. The company had revenue of $173.40 million for the quarter, compared to the consensus estimate of $174.20 million. During the same quarter in the previous year, the company posted ($0.07) earnings per share. The company’s revenue for the quarter was up 8.6% on a year-over-year basis.
TCS has been the subject of a number of recent research reports. Analysts at Credit Suisse reiterated an “outperform” rating on shares of Container Store Group in a research note on Wednesday. They now have a $32.00 price target on the stock, down previously from $45.00. Separately, analysts at Barclays cut their price target on shares of Container Store Group from $32.00 to $26.00 in a research note on Wednesday. They now have an “equal weight” rating on the stock. Finally, analysts at Jefferies Group raised their price target on shares of Container Store Group from $24.00 to $29.00 in a research note on Wednesday. They now have a “hold” rating on the stock. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $33.38.
The stock has a 50-day moving average of $27.88 and a 200-day moving average of $33.13. The company’s market cap is $1.151 billion.
The Container Store Group, Inc is a specialty retailer of storage and organization products in the United States.
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