The Container Store Group, Inc. (NYSE:TCS) Sees Significant Decrease in Short Interest

The Container Store Group, Inc. (NYSE:TCSGet Rating) saw a significant drop in short interest in the month of July. As of July 15th, there was short interest totalling 1,670,000 shares, a drop of 15.7% from the June 30th total of 1,980,000 shares. Currently, 5.1% of the shares of the stock are sold short. Based on an average trading volume of 492,000 shares, the days-to-cover ratio is presently 3.4 days.

The Container Store Group Trading Up 0.8 %

Shares of The Container Store Group stock opened at $7.21 on Friday. The Container Store Group has a 1 year low of $6.19 and a 1 year high of $14.25. The firm has a market cap of $371.55 million, a PE ratio of 4.87 and a beta of 1.35. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.11 and a quick ratio of 0.29. The company has a 50 day simple moving average of $7.14 and a two-hundred day simple moving average of $7.97.

The Container Store Group (NYSE:TCSGet Rating) last announced its earnings results on Tuesday, May 17th. The specialty retailer reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.14. The Container Store Group had a net margin of 6.71% and a return on equity of 18.34%. The business had revenue of $305.55 million during the quarter, compared to analyst estimates of $281.32 million. During the same period in the previous year, the business posted $0.71 earnings per share. Analysts expect that The Container Store Group will post 1.25 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on TCS shares. StockNews.com lowered shares of The Container Store Group from a “buy” rating to a “hold” rating in a research report on Monday. Lake Street Capital initiated coverage on shares of The Container Store Group in a research report on Wednesday, April 13th. They set a “buy” rating and a $10.00 target price for the company. Finally, The Goldman Sachs Group dropped their target price on shares of The Container Store Group from $11.50 to $9.00 and set a “neutral” rating for the company in a research report on Thursday, May 19th.

Insider Activity

In other news, CEO Satish Malhotra acquired 14,600 shares of the business’s stock in a transaction dated Thursday, June 16th. The stock was bought at an average cost of $6.83 per share, for a total transaction of $99,718.00. Following the completion of the transaction, the chief executive officer now owns 466,801 shares of the company’s stock, valued at $3,188,250.83. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 33.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On The Container Store Group

A number of hedge funds have recently made changes to their positions in the business. Northern Trust Corp lifted its holdings in shares of The Container Store Group by 0.4% in the 4th quarter. Northern Trust Corp now owns 304,242 shares of the specialty retailer’s stock worth $3,036,000 after acquiring an additional 1,144 shares during the last quarter. Denali Advisors LLC increased its stake in shares of The Container Store Group by 33.9% in the first quarter. Denali Advisors LLC now owns 7,500 shares of the specialty retailer’s stock worth $61,000 after buying an additional 1,900 shares during the period. Swiss National Bank increased its stake in shares of The Container Store Group by 3.0% in the fourth quarter. Swiss National Bank now owns 72,300 shares of the specialty retailer’s stock worth $722,000 after buying an additional 2,100 shares during the period. JBF Capital Inc. increased its stake in shares of The Container Store Group by 6.7% in the fourth quarter. JBF Capital Inc. now owns 51,750 shares of the specialty retailer’s stock worth $1,984,000 after buying an additional 3,250 shares during the period. Finally, IHT Wealth Management LLC increased its stake in shares of The Container Store Group by 36.3% in the fourth quarter. IHT Wealth Management LLC now owns 14,200 shares of the specialty retailer’s stock worth $142,000 after buying an additional 3,781 shares during the period. 84.83% of the stock is currently owned by institutional investors.

The Container Store Group Company Profile

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The Container Store Group, Inc operates as a retailer of storage and organization products and solutions in the United States. The company operates in two segments, The Container Store and Elfa. It provides approximately 11,000 products designed to help customers. Its merchandise category includes custom closets, such as elfa Classic, elfa Decor, Laren, and Avera branded products, as well as closet lifestyle department and wood-based products; wood-based custom home storage and organization solutions; and customized solutions for closets, garages, home offices, pantries, laundry rooms, murphy beds, and built-in wall units.

Further Reading

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