Tuesday Morning (NASDAQ:TUES) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and 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. “
TUES has been the subject of a number of other reports. B. Riley reissued a “hold” rating and issued a $3.30 price objective on shares of Tuesday Morning in a report on Friday, October 27th. ValuEngine upgraded Tuesday Morning from a “strong sell” rating to a “sell” rating in a report on Tuesday, January 16th.
Tuesday Morning (NASDAQ:TUES) last announced its quarterly earnings results on Thursday, February 1st. The company reported $0.19 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.19. Tuesday Morning had a negative return on equity of 17.87% and a negative net margin of 3.64%. The company had revenue of $333.81 million during the quarter, compared to the consensus estimate of $334.25 million. During the same period in the previous year, the company posted $0.19 earnings per share. Tuesday Morning’s revenue for the quarter was up 1.7% on a year-over-year basis. equities analysts expect that Tuesday Morning will post -0.51 earnings per share for the current fiscal year.
In other Tuesday Morning news, Director Sherry M. Smith bought 13,084 shares of Tuesday Morning stock in a transaction dated Wednesday, November 15th. The stock was bought at an average price of $2.75 per share, for a total transaction of $35,981.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 4.60% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. California Public Employees Retirement System grew its position in shares of Tuesday Morning by 5.6% in the 2nd quarter. California Public Employees Retirement System now owns 323,000 shares of the company’s stock worth $614,000 after buying an additional 17,000 shares during the period. Virtu KCG Holdings LLC acquired a new position in shares of Tuesday Morning during the second quarter worth about $272,000. Dimensional Fund Advisors LP lifted its stake in shares of Tuesday Morning by 4.2% during the second quarter. Dimensional Fund Advisors LP now owns 3,778,397 shares of the company’s stock worth $7,179,000 after purchasing an additional 153,188 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Tuesday Morning by 144.4% during the second quarter. Goldman Sachs Group Inc. now owns 438,191 shares of the company’s stock worth $833,000 after purchasing an additional 258,932 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new position in shares of Tuesday Morning during the second quarter worth about $261,000. Institutional investors own 71.16% of the company’s stock.
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About Tuesday Morning
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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