Tuesday Morning Corp. (TUES) Lowered to Sell at Zacks Investment Research
Tuesday Morning Corp. (NASDAQ:TUES) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Thursday.
According to Zacks, “Tuesday Morning Corp. is a closeout retailer of upscale home furnishings, gifts and related items in the U.S. They operate their stores during eight annual sales events, while closing them for the remaining weeks of the year. They specialize in first quality, brand name merchandise such as Ralph Lauren bed linens, Waterman pens, Limoges hand-decorated boxes, Steinbach collectible nutcrackers, Steiff stuffed animals, Royal Dalton china and giftware, Farberware cookware, Martex bathtowels, Samsonite luggage, Spode china, Madame Alexander dolls and many others. “
Separately, B. Riley restated a “neutral” rating and set a $9.00 target price on shares of Tuesday Morning Corp. in a report on Saturday, August 27th.
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Shares of Tuesday Morning Corp. (NASDAQ:TUES) opened at 6.15 on Thursday. The firm has a market capitalization of $269.36 million, a PE ratio of 76.88 and a beta of 1.65. The stock has a 50 day moving average of $6.26 and a 200-day moving average of $7.16. Tuesday Morning Corp. has a 52 week low of $5.01 and a 52 week high of $9.23.
Tuesday Morning Corp. (NASDAQ:TUES) last announced its quarterly earnings results on Friday, August 19th. The company reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.04. The business had revenue of $222.80 million for the quarter. Tuesday Morning Corp. had a net margin of 0.39% and a return on equity of 1.64%. The business’s revenue was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.10) earnings per share. Equities analysts anticipate that Tuesday Morning Corp. will post $0.09 earnings per share for the current fiscal year.
A number of hedge funds have recently made changes to their positions in TUES. Profund Advisors LLC boosted its position in shares of Tuesday Morning Corp. by 10.5% in the second quarter. Profund Advisors LLC now owns 15,214 shares of the company’s stock valued at $107,000 after buying an additional 1,440 shares in the last quarter. JPMorgan Chase & Co. acquired a new position in shares of Tuesday Morning Corp. during the second quarter valued at $110,000. Franklin Street Advisors Inc. NC acquired a new position in shares of Tuesday Morning Corp. during the second quarter valued at $138,000. BlackRock Advisors LLC boosted its position in shares of Tuesday Morning Corp. by 3.2% in the second quarter. BlackRock Advisors LLC now owns 19,974 shares of the company’s stock valued at $140,000 after buying an additional 621 shares in the last quarter. Finally, Arizona State Retirement System boosted its position in shares of Tuesday Morning Corp. by 1.8% in the second quarter. Arizona State Retirement System now owns 23,166 shares of the company’s stock valued at $163,000 after buying an additional 400 shares in the last quarter. Hedge funds and other institutional investors own 92.31% of the company’s stock.
Tuesday Morning Corp. Company Profile
Tuesday Morning Corporation, is a merchandise and retail company. The Company is a retailer of off-price, upscale decorative home accessories, housewares, seasonal goods and gifts that sell below retail prices charged by department stores and specialty and on-line retailers in the United States. The Company sells upscale home furnishings, housewares, gifts and other related items.
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