Goldman Sachs Group Upgrades Container Store Group (NYSE:TCS) to Neutral

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Goldman Sachs Group upgraded shares of Container Store Group (NYSE:TCS) from a sell rating to a neutral rating in a research report released on Thursday, BenzingaRatingsTable reports. Goldman Sachs Group currently has $5.25 price objective on the specialty retailer’s stock, down from their prior price objective of $7.00.

Other research analysts also recently issued reports about the company. ValuEngine upgraded Container Store Group from a sell rating to a hold rating in a report on Wednesday, October 2nd. TheStreet downgraded Container Store Group from a b- rating to a c rating in a report on Wednesday, July 31st. Finally, Zacks Investment Research upgraded Container Store Group from a hold rating to a buy rating and set a $5.00 price objective for the company in a report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $6.56.

Shares of NYSE:TCS traded up $0.01 during mid-day trading on Thursday, reaching $4.69. 6,519 shares of the stock were exchanged, compared to its average volume of 193,298. The company has a quick ratio of 0.31, a current ratio of 0.91 and a debt-to-equity ratio of 2.30. The company has a market cap of $231.87 million, a P/E ratio of 11.12 and a beta of 2.35. Container Store Group has a one year low of $4.07 and a one year high of $10.76. The stock’s 50 day simple moving average is $4.51 and its 200-day simple moving average is $6.55.

Container Store Group (NYSE:TCS) last posted its quarterly earnings data on Tuesday, July 30th. The specialty retailer reported ($0.08) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.10) by $0.02. The business had revenue of $209.50 million during the quarter, compared to the consensus estimate of $204.95 million. Container Store Group had a return on equity of 7.99% and a net margin of 2.68%. Container Store Group’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period last year, the company earned ($0.08) earnings per share. Analysts anticipate that Container Store Group will post 0.49 EPS for the current fiscal year.

A number of hedge funds have recently bought and sold shares of TCS. Front Street Capital Management Inc. grew its stake in Container Store Group by 108.6% in the second quarter. Front Street Capital Management Inc. now owns 1,456,845 shares of the specialty retailer’s stock valued at $10,664,000 after purchasing an additional 758,515 shares in the last quarter. Prospect Capital Advisors LLC grew its stake in Container Store Group by 1,884.7% in the second quarter. Prospect Capital Advisors LLC now owns 725,400 shares of the specialty retailer’s stock valued at $5,310,000 after purchasing an additional 688,850 shares in the last quarter. Marshall Wace LLP grew its stake in Container Store Group by 1,482.3% in the second quarter. Marshall Wace LLP now owns 334,712 shares of the specialty retailer’s stock valued at $2,450,000 after purchasing an additional 313,558 shares in the last quarter. Marshall Wace North America L.P. grew its stake in Container Store Group by 688.6% in the second quarter. Marshall Wace North America L.P. now owns 251,442 shares of the specialty retailer’s stock valued at $1,841,000 after purchasing an additional 219,559 shares in the last quarter. Finally, Citadel Advisors LLC grew its stake in Container Store Group by 771.0% in the second quarter. Citadel Advisors LLC now owns 168,965 shares of the specialty retailer’s stock valued at $1,237,000 after purchasing an additional 149,565 shares in the last quarter. Hedge funds and other institutional investors own 83.89% of the company’s stock.

Container Store Group Company Profile

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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