The Container Store Group (NYSE:TCS) Lowered to Hold at Zacks Investment Research

Zacks Investment Research cut shares of The Container Store Group (NYSE:TCS) from a buy rating to a hold rating in a research note released on Wednesday morning, reports.

According to Zacks, “The Container Store Group, Inc. operates as a specialty retailer of storage and organization products in the United States. The company operates in two segments, TCS and Elfa. TCS segment consists of its retail stores, ebsite and call center. Elfa segment designs and manufactures component-based shelving and drawer systems that are customizable for any area of the home, including closets, kitchens, offices and garages. The Container Store Group, Inc. is headquartered in Coppell, Texas. “

Shares of NYSE:TCS opened at $10.99 on Wednesday. The firm has a market cap of $554.89 million, a price-to-earnings ratio of 9.47 and a beta of 1.26. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.95 and a quick ratio of 0.34. The Container Store Group has a 1-year low of $3.12 and a 1-year high of $19.31. The stock’s 50 day moving average price is $12.67.

The Container Store Group (NYSE:TCS) last posted its quarterly earnings results on Monday, May 17th. The specialty retailer reported $0.71 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.14. The Container Store Group had a net margin of 5.89% and a return on equity of 20.12%. The firm had revenue of $314.68 million for the quarter, compared to the consensus estimate of $300.72 million. As a group, equities research analysts anticipate that The Container Store Group will post 1 EPS for the current fiscal year.

In related news, CEO Satish Malhotra bought 20,500 shares of the business’s stock in a transaction that occurred on Thursday, May 20th. The stock was acquired at an average price of $12.25 per share, for a total transaction of $251,125.00. Following the transaction, the chief executive officer now directly owns 70,600 shares of the company’s stock, valued at $864,850. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 35.40% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. Harvest Fund Management Co. Ltd acquired a new position in shares of The Container Store Group in the 1st quarter worth approximately $27,000. Tradition Wealth Management LLC bought a new position in The Container Store Group in the 1st quarter valued at $28,000. Citigroup Inc. boosted its stake in The Container Store Group by 147.3% in the fourth quarter. Citigroup Inc. now owns 4,793 shares of the specialty retailer’s stock worth $46,000 after purchasing an additional 2,855 shares in the last quarter. Dorsey Wright & Associates grew its holdings in shares of The Container Store Group by 135.4% during the first quarter. Dorsey Wright & Associates now owns 2,858 shares of the specialty retailer’s stock worth $48,000 after purchasing an additional 1,644 shares during the last quarter. Finally, Captrust Financial Advisors increased its stake in shares of The Container Store Group by 6,964.0% in the first quarter. Captrust Financial Advisors now owns 3,532 shares of the specialty retailer’s stock valued at $59,000 after buying an additional 3,482 shares in the last quarter. 83.03% of the stock is currently owned by institutional investors and hedge funds.

About The Container Store Group

The Container Store Group, Inc operates as a retailer of storage and organization products and solutions in the United States. It operates in two segments, The Container Store and Elfa. The company provides approximately 11,000 products designed to help customers. Its merchandise category includes Custom Closets, including elfa, Laren, and Avera branded products and installation services, as well as closet lifestyle department products; storage, long-term storage, and shelving; kitchen and trash; office, collections, and hooks; bath, travel, and laundry; gift packaging, seasonal, and impulse; and others.

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