Tuesday Morning Corp. (TUES) Downgraded by Zacks Investment Research
Tuesday Morning Corp. (NASDAQ:TUES) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.
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 price target on shares of Tuesday Morning Corp. in a research note on Monday, August 22nd.
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Shares of Tuesday Morning Corp. (NASDAQ:TUES) opened at 5.80 on Wednesday. The firm has a market cap of $254.03 million, a P/E ratio of 72.50 and a beta of 1.65. Tuesday Morning Corp. has a 12 month low of $5.01 and a 12 month high of $9.23. The stock’s 50 day moving average price is $6.12 and its 200-day moving average price is $7.09.
Tuesday Morning Corp. (NASDAQ:TUES) last announced its quarterly earnings results on Friday, August 19th. The company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.04. The firm earned $222.80 million during the quarter. Tuesday Morning Corp. had a net margin of 0.39% and a return on equity of 1.64%. The firm’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.10) EPS. Equities research analysts anticipate that Tuesday Morning Corp. will post $0.09 earnings per share for the current fiscal year.
Several hedge funds have recently bought and sold shares of TUES. Profund Advisors LLC raised its stake in 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 during the last quarter. JPMorgan Chase & Co. purchased a new stake in Tuesday Morning Corp. during the second quarter valued at $110,000. Franklin Street Advisors Inc. NC purchased a new stake in Tuesday Morning Corp. during the second quarter valued at $138,000. BlackRock Advisors LLC raised its stake in 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 during the last quarter. Finally, Arizona State Retirement System raised its stake in 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 during the last quarter. 91.11% of the stock is owned by institutional investors.
About Tuesday Morning Corp.
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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