Tailored Brands Inc. (TLRD) Sees Significant Growth in Short Interest
Tailored Brands Inc. (NYSE:TLRD) was the target of a large growth in short interest in the month of September. As of September 30th, there was short interest totalling 11,445,703 shares, a growth of 34.4% from the September 15th total of 8,513,220 shares. Approximately 23.8% of the shares of the company are short sold. Based on an average daily volume of 1,332,613 shares, the days-to-cover ratio is presently 8.6 days.
Institutional investors have recently modified their holdings of the company. BlackRock Fund Advisors bought a new position in shares of Tailored Brands during the first quarter worth about $55,626,000. Prudential Financial Inc. acquired a new stake in Tailored Brands during the first quarter worth approximately $5,129,000. OMERS ADMINISTRATION Corp acquired a new stake in Tailored Brands during the first quarter worth approximately $569,000. Teachers Advisors Inc. acquired a new stake in Tailored Brands during the first quarter worth approximately $1,375,000. Finally, Bogle Investment Management L P DE acquired a new stake in Tailored Brands during the first quarter worth approximately $6,849,000.
A number of research analysts have issued reports on TLRD shares. Zacks Investment Research upgraded Tailored Brands from a “hold” rating to a “buy” rating and set a $18.00 price target for the company in a research report on Tuesday, October 11th. Wunderlich started coverage on Tailored Brands in a research report on Tuesday, August 2nd. They set a “buy” rating and a $20.00 price target for the company. Johnson Rice upgraded Tailored Brands from a “hold” rating to an “accumulate” rating in a research report on Thursday, September 1st. Stifel Nicolaus reiterated a “hold” rating and set a $18.00 price target (up previously from $14.00) on shares of Tailored Brands in a research report on Thursday, September 8th. Finally, Mizuho boosted their price target on Tailored Brands from $14.00 to $17.00 and gave the stock a “neutral” rating in a research report on Thursday, September 8th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $18.00.
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Shares of Tailored Brands (NYSE:TLRD) opened at 16.07 on Monday. The stock’s 50 day moving average price is $15.50 and its 200-day moving average price is $14.82. The firm’s market capitalization is $782.51 million. Tailored Brands has a 12 month low of $9.95 and a 12 month high of $42.64.
Tailored Brands (NYSE:TLRD) last issued its earnings results on Wednesday, September 7th. The company reported $0.99 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.93 by $0.06. Tailored Brands had a positive return on equity of 40.50% and a negative net margin of 30.86%. The business earned $909 million during the quarter, compared to analysts’ expectations of $890.14 million. During the same period in the prior year, the firm posted $1.07 EPS. Tailored Brands’s quarterly revenue was down 1.1% compared to the same quarter last year. On average, equities research analysts predict that Tailored Brands will post $1.70 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 23rd. Stockholders of record on Tuesday, December 13th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Friday, December 9th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.48%. Tailored Brands’s payout ratio is presently -3.29%.
About Tailored Brands
Tailored Brands, Inc is a holding company of The Men’s Wearhouse, Inc The Company is a specialty apparel retailer offering suits, suit separates, sport coats, slacks, business casual, sportswear, outerwear, dress shirts, shoes and accessories for men and tuxedo and suit rental product. It operates through two segments: Retail and Corporate Apparel.
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