The Container Store Group (NYSE:TCS) Upgraded by StockNews.com to “Hold” Rating

StockNews.com upgraded shares of The Container Store Group (NYSE:TCS) from a sell rating to a hold rating in a research note published on Wednesday.

The Container Store Group Stock Down 4.7 %

TCS opened at $3.44 on Wednesday. The stock has a market capitalization of $11.87 million, a P/E ratio of -0.12 and a beta of 1.08. The stock’s 50 day simple moving average is $8.10. The company has a current ratio of 1.29, a quick ratio of 0.57 and a debt-to-equity ratio of 1.73. The Container Store Group has a 52-week low of $3.32 and a 52-week high of $37.80.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Renaissance Technologies LLC boosted its stake in shares of The Container Store Group by 21.0% in the second quarter. Renaissance Technologies LLC now owns 88,200 shares of the specialty retailer’s stock valued at $48,000 after purchasing an additional 15,300 shares during the period. Assenagon Asset Management S.A. purchased a new position in shares of The Container Store Group in the second quarter valued at $165,000. Jacobs Levy Equity Management Inc. purchased a new position in shares of The Container Store Group in the first quarter valued at $490,000. Finally, Zazove Associates LLC boosted its stake in shares of The Container Store Group by 72.6% in the first quarter. Zazove Associates LLC now owns 470,410 shares of the specialty retailer’s stock valued at $536,000 after purchasing an additional 197,831 shares during the period. 67.11% of the stock is currently owned by hedge funds and other institutional investors.

The Container Store Group Company Profile

The Container Store Group, Inc operates as a specialty retailer of organizing solutions, custom spaces, and in-home organizing services in the United States. The company operates in two segments, The Container Store and Elfa. Its stores provide custom space offerings; countertop, cosmetic and jewelry, shower and bathtub, drawer organizers, and cabinet storage products; closets that includes shoe storage, hangers, drawer organizers, boxes and bins, hanging storage bags, garment racks, jewelry storage, and bedding.