Tuesday Morning Corp. (NASDAQ:TUES) Given Average Recommendation of “Hold” by Brokerages
Shares of Tuesday Morning Corp. (NASDAQ:TUES) have been given a consensus rating of “Hold” by the six research firms that are currently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating and four have given a hold rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $2.55.
Several equities research analysts have issued reports on TUES shares. Zacks Investment Research upgraded Tuesday Morning Corp. from a “sell” rating to a “hold” rating in a research report on Wednesday, April 12th. B. Riley restated a “neutral” rating and set a $2.60 price target on shares of Tuesday Morning Corp. in a research report on Friday, May 5th. Credit Suisse Group lowered their price target on Tuesday Morning Corp. from $4.50 to $2.50 and set a “neutral” rating for the company in a research report on Friday, June 16th. Finally, ValuEngine lowered Tuesday Morning Corp. from a “sell” rating to a “strong sell” rating in a research report on Friday, June 2nd.
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In related news, CEO Steven R. Becker bought 90,100 shares of the firm’s stock in a transaction that occurred on Thursday, May 25th. The stock was purchased at an average cost of $1.82 per share, for a total transaction of $163,982.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Steven R. Becker bought 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 4th. The stock was bought at an average price of $2.42 per share, with a total value of $242,000.00. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 340,100 shares of company stock valued at $687,082. 4.40% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TUES. Two Sigma Investments LP acquired a new stake in shares of Tuesday Morning Corp. during the fourth quarter worth about $113,000. State of Tennessee Treasury Department increased its stake in shares of Tuesday Morning Corp. by 17.8% in the first quarter. State of Tennessee Treasury Department now owns 41,130 shares of the company’s stock worth $154,000 after buying an additional 6,207 shares during the period. Comerica Bank increased its stake in shares of Tuesday Morning Corp. by 4.6% in the first quarter. Comerica Bank now owns 49,661 shares of the company’s stock worth $159,000 after buying an additional 2,202 shares during the period. AWM Investment Company Inc. acquired a new stake in shares of Tuesday Morning Corp. during the first quarter worth about $187,000. Finally, Alambic Investment Management L.P. acquired a new stake in shares of Tuesday Morning Corp. during the first quarter worth about $230,000. Hedge funds and other institutional investors own 92.32% of the company’s stock.
Tuesday Morning Corp. (TUES) traded down 5.41% during trading on Tuesday, reaching $1.75. The company had a trading volume of 678,762 shares. The firm’s market capitalization is $77.04 million. The company’s 50-day moving average is $1.90 and its 200 day moving average is $3.48. Tuesday Morning Corp. has a 52 week low of $1.60 and a 52 week high of $8.11.
Tuesday Morning Corp. (NASDAQ:TUES) last posted its earnings results on Thursday, May 4th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.27) by $0.07. The business had revenue of $203 million for the quarter, compared to analyst estimates of $207.10 million. Tuesday Morning Corp. had a negative return on equity of 8.56% and a negative net margin of 1.97%. Tuesday Morning Corp.’s revenue was down 4.0% compared to the same quarter last year. During the same period last year, the business earned ($0.12) EPS. Equities analysts anticipate that Tuesday Morning Corp. will post ($0.63) EPS for the current year.
Tuesday Morning Corp. Company Profile
Tuesday Morning Corporation is an off-price retailer. The Company specializes in selling discounted, upscale decorative home accessories, housewares, seasonal goods and famous-maker gifts. The Company operated 751 stores in 40 states in the United States, as of June 30, 2016. The Company offers products in a range of categories, such as home decor, furniture, bed and bath, kitchen, toys, crafts, pets and seasonal goods.
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