Tuesday Morning (OTCMKTS:TUEM) Downgraded by Zacks Investment Research to “Hold”

Zacks Investment Research cut shares of Tuesday Morning (OTCMKTS:TUEM) from a buy rating to a hold rating in a report released on Wednesday morning, Zacks.com reports.

According to Zacks, “Tuesday Morning is off-price retailer specializing in name-brand, products for the home, including upscale home textiles, home furnishings, housewares, gourmet food, toys and seasonal décor, at prices generally below those found in boutique, specialty and department stores, catalogs and on-line retailers. Tuesday Morning is based in Dallas, Texas. “

Shares of Tuesday Morning stock opened at $2.64 on Wednesday. Tuesday Morning has a 52-week low of $1.00 and a 52-week high of $5.01. The company has a quick ratio of 0.26, a current ratio of 1.23 and a debt-to-equity ratio of 0.85. The firm’s 50 day moving average price is $2.58 and its 200-day moving average price is $3.48.

Tuesday Morning (OTCMKTS:TUEM) last released its earnings results on Thursday, November 4th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.04). Tuesday Morning had a positive return on equity of 4.97% and a negative net margin of 4.28%. The company had revenue of $176.87 million for the quarter, compared to analysts’ expectations of $183.62 million. On average, equities research analysts forecast that Tuesday Morning will post -0.28 EPS for the current fiscal year.

In other news, CMO Paul Metcalf bought 100,000 shares of Tuesday Morning stock in a transaction that occurred on Wednesday, September 15th. The shares were purchased at an average price of $1.68 per share, with a total value of $168,000.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Marc Katz purchased 150,000 shares of the company’s stock in a transaction on Tuesday, September 14th. The stock was bought at an average price of $1.71 per share, for a total transaction of $256,500.00. The disclosure for this purchase can be found here. Insiders have acquired 485,925 shares of company stock valued at $851,524 over the last 90 days. 36.80% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in TUEM. Accretive Wealth Partners LLC purchased a new position in Tuesday Morning in the 2nd quarter valued at $45,000. Two Sigma Securities LLC purchased a new position in Tuesday Morning in the 3rd quarter valued at $49,000. Sfmg LLC grew its position in Tuesday Morning by 35.0% in the 3rd quarter. Sfmg LLC now owns 27,000 shares of the company’s stock valued at $76,000 after buying an additional 7,000 shares during the last quarter. Hollow Brook Wealth Management LLC purchased a new position in Tuesday Morning in the 3rd quarter valued at $81,000. Finally, Squarepoint Ops LLC purchased a new position in Tuesday Morning in the 2nd quarter valued at $89,000. Institutional investors and hedge funds own 81.85% of the company’s stock.

Tuesday Morning Company Profile

Tuesday Morning Corporation operates as an off-price retailer in the United States. The company offers various products, such as upscale home textiles, home furnishings, housewares, gourmet food products, pet supplies, bath and body products, toys, and seasonal décor products. As of June 30, 2020, it operated approximately 685 stores in 39 states.

Recommended Story: Dividend Kings

Get a free copy of the Zacks research report on Tuesday Morning (TUEM)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Tuesday Morning Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tuesday Morning and related companies with MarketBeat.com's FREE daily email newsletter.