Container Store Group (NYSE:TCS) Shares Up 11.1%

Container Store Group Inc (NYSE:TCS)’s share price shot up 11.1% during trading on Wednesday . The stock traded as high as $6.39 and last traded at $5.92. 2,007,625 shares traded hands during trading, an increase of 506% from the average session volume of 331,249 shares. The stock had previously closed at $5.33.

Several research firms have recently commented on TCS. TheStreet cut Container Store Group from a “c” rating to a “d+” rating in a research note on Wednesday, July 29th. Goldman Sachs Group lowered Container Store Group from a “neutral” rating to a “sell” rating and upped their price target for the company from $2.25 to $3.00 in a research report on Tuesday, August 4th. ValuEngine raised Container Store Group from a “hold” rating to a “buy” rating in a research report on Wednesday, July 29th. Finally, Zacks Investment Research lowered Container Store Group from a “hold” rating to a “sell” rating in a research report on Friday, July 31st.

The company has a quick ratio of 0.60, a current ratio of 1.16 and a debt-to-equity ratio of 2.27. The company has a 50-day simple moving average of $3.80 and a two-hundred day simple moving average of $3.10.

Container Store Group (NYSE:TCS) last issued its earnings results on Tuesday, July 28th. The specialty retailer reported ($0.32) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.25) by ($0.07). Container Store Group had a return on equity of 1.26% and a net margin of 0.22%. The company had revenue of $151.69 million during the quarter. Equities analysts anticipate that Container Store Group Inc will post 0.01 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of TCS. Towle & Co. increased its holdings in shares of Container Store Group by 102.3% during the first quarter. Towle & Co. now owns 1,659,960 shares of the specialty retailer’s stock valued at $3,918,000 after purchasing an additional 839,490 shares during the period. Weber Alan W acquired a new position in shares of Container Store Group during the first quarter valued at $1,109,000. Bank of America Corp DE boosted its stake in Container Store Group by 4.5% during the second quarter. Bank of America Corp DE now owns 3,005,080 shares of the specialty retailer’s stock valued at $9,737,000 after buying an additional 130,236 shares in the last quarter. Russell Investments Group Ltd. bought a new position in Container Store Group during the second quarter valued at about $355,000. Finally, BlackRock Inc. boosted its stake in Container Store Group by 3.0% during the first quarter. BlackRock Inc. now owns 1,178,020 shares of the specialty retailer’s stock valued at $2,780,000 after buying an additional 34,614 shares in the last quarter. 83.80% of the stock is currently owned by institutional investors.

About Container Store Group (NYSE:TCS)

The Container Store Group, Inc engages in the retailing of storage and organization products and solutions in the United States. The company operates in two segments, The Container Store and Elfa. Its retail stores provide various lifestyle products, including closets, collections, and hooks, as well as bath, kitchen, laundry, gift packaging, long-term storage, office, shelving, storage, trash, travel, and elfa branded products.

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