Tuesday Morning Corp. (NASDAQ:TUES) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday.
According to Zacks, “Tuesday Morning Corp. is a closeout retailer of upscale home furnishings, gifts and related items in the U.S. They operate their stores during eight annual sales events, while closing them for the remaining weeks of the year. They specialize in first quality, brand name merchandise such as Ralph Lauren bed linens, Waterman pens, Limoges hand-decorated boxes, Steinbach collectible nutcrackers, Steiff stuffed animals, Royal Dalton china and giftware, Farberware cookware, Martex bathtowels, Samsonite luggage, Spode china, Madame Alexander dolls and many others. “
Separately, B. Riley reissued a “neutral” rating and set a $9.00 target price on shares of Tuesday Morning Corp. in a research note on Saturday, August 27th.
Tuesday Morning Corp. (NASDAQ:TUES) opened at 5.89 on Thursday. The stock’s 50 day moving average price is $6.19 and its 200 day moving average price is $7.14. The company has a market capitalization of $257.97 million, a P/E ratio of 73.62 and a beta of 1.65. Tuesday Morning Corp. has a one year low of $5.01 and a one year high of $9.23.
Tuesday Morning Corp. (NASDAQ:TUES) last posted its quarterly earnings results on Friday, August 19th. The company reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.04. Tuesday Morning Corp. had a return on equity of 1.64% and a net margin of 0.39%. The firm earned $222.80 million during the quarter. During the same period in the prior year, the business posted ($0.10) EPS. Tuesday Morning Corp.’s revenue for the quarter was up 4.6% compared to the same quarter last year. Equities analysts anticipate that Tuesday Morning Corp. will post $0.09 EPS for the current fiscal year.
A number of large investors have recently bought and sold shares of the company. Profund Advisors LLC boosted its stake in shares of Tuesday Morning Corp. by 10.5% in the second quarter. Profund Advisors LLC now owns 15,214 shares of the company’s stock worth $107,000 after buying an additional 1,440 shares during the last quarter. JPMorgan Chase & Co. purchased a new stake in shares of Tuesday Morning Corp. during the second quarter worth $110,000. Franklin Street Advisors Inc. NC purchased a new stake in shares of Tuesday Morning Corp. during the second quarter worth $138,000. BlackRock Advisors LLC boosted its stake in shares of Tuesday Morning Corp. by 3.2% in the second quarter. BlackRock Advisors LLC now owns 19,974 shares of the company’s stock worth $140,000 after buying an additional 621 shares during the last quarter. Finally, Arizona State Retirement System boosted its stake in shares of Tuesday Morning Corp. by 1.8% in the second quarter. Arizona State Retirement System now owns 23,166 shares of the company’s stock worth $163,000 after buying an additional 400 shares during the last quarter. 92.31% of the stock is owned by institutional investors.
Tuesday Morning Corp. Company Profile
Tuesday Morning Corporation, is a merchandise and retail company. The Company is a retailer of off-price, upscale decorative home accessories, housewares, seasonal goods and gifts that sell below retail prices charged by department stores and specialty and on-line retailers in the United States. The Company sells upscale home furnishings, housewares, gifts and other related items.