Tile Shop Hldgs, Inc. (TTS) Price Target Cut to $11.00
Tile Shop Hldgs, Inc. (NASDAQ:TTS) had its price target dropped by Citigroup Inc. from $17.00 to $11.00 in a note issued to investors on Wednesday. The brokerage presently has a “neutral” rating on the stock. Citigroup Inc.’s price target suggests a potential upside of 30.18% from the company’s current price.
Several other research analysts have also weighed in on the company. Stifel Nicolaus reduced their target price on Tile Shop Hldgs from $15.00 to $10.00 and set a “hold” rating on the stock in a report on Wednesday. Loop Capital reissued a “hold” rating and issued a $12.00 target price (down from $15.00) on shares of Tile Shop Hldgs in a research note on Tuesday. CJS Securities downgraded Tile Shop Hldgs from an “outperform” rating to a “market perform” rating and set a $10.00 price target for the company. in a report on Tuesday. Telsey Advisory Group downgraded Tile Shop Hldgs from a “market perform” rating to an “underperform” rating and lowered their price target for the stock from $17.00 to $7.00 in a report on Tuesday. Finally, Piper Jaffray Companies restated a “neutral” rating and issued a $8.50 price target (down from $14.00) on shares of Tile Shop Hldgs in a report on Tuesday. One equities research analyst has rated the stock with a sell rating and seven have given a hold rating to the stock. The company has an average rating of “Hold” and a consensus price target of $11.21.
Tile Shop Hldgs (NASDAQ:TTS) opened at 8.45 on Wednesday. The firm’s 50-day moving average is $14.64 and its 200 day moving average is $17.93. Tile Shop Hldgs has a 52-week low of $8.25 and a 52-week high of $22.40. The stock has a market capitalization of $438.75 million, a PE ratio of 21.12 and a beta of 1.79.
Tile Shop Hldgs (NASDAQ:TTS) last posted its earnings results on Tuesday, July 18th. The company reported $0.15 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.01). The company had revenue of $89.50 million for the quarter, compared to analyst estimates of $93.20 million. Tile Shop Hldgs had a return on equity of 17.45% and a net margin of 6.11%. Tile Shop Hldgs’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.14 earnings per share. On average, equities analysts forecast that Tile Shop Hldgs will post $0.51 earnings per share for the current year.
In other news, Director Robert A. Rucker sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, July 17th. The stock was sold at an average price of $20.16, for a total value of $2,016,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Peter H. Kamin bought 37,782 shares of Tile Shop Hldgs stock in a transaction dated Wednesday, July 19th. The shares were acquired at an average price of $14.50 per share, with a total value of $547,839.00. Following the completion of the purchase, the director now directly owns 435,908 shares in the company, valued at approximately $6,320,666. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 259,454 shares of company stock worth $3,710,115. Company insiders own 24.30% of the company’s stock.
Several hedge funds have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company raised its stake in Tile Shop Hldgs by 5.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 27,638 shares of the company’s stock valued at $570,000 after acquiring an additional 1,470 shares during the period. State Street Corp lifted its holdings in Tile Shop Hldgs by 4.2% during the 2nd quarter. State Street Corp now owns 780,395 shares of the company’s stock valued at $16,114,000 after purchasing an additional 31,140 shares during the last quarter. Bamco Inc. NY acquired a new stake in Tile Shop Hldgs during the 2nd quarter valued at $1,136,000. Voya Investment Management LLC lifted its holdings in Tile Shop Hldgs by 4,014.4% during the 2nd quarter. Voya Investment Management LLC now owns 487,185 shares of the company’s stock valued at $10,061,000 after purchasing an additional 475,344 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Tile Shop Hldgs by 15.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 718,232 shares of the company’s stock valued at $14,831,000 after purchasing an additional 95,429 shares during the last quarter. 68.33% of the stock is currently owned by institutional investors and hedge funds.
Tile Shop Hldgs Company Profile
Tile Shop Holdings, Inc operates as a specialty retailer of manufactured and natural stone tiles, setting and maintenance materials, and related accessories in the United States. It offers approximately 4,000 products, including ceramic, porcelain, glass, cement, wood look, and metal tiles; and marble, granite, quartz, sandstone, travertine, slate, and onyx tiles primarily under the Rush River and Fired Earth brand names.
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