Zacks Investment Research Upgrades Tuesday Morning Co. (TUES) to “Hold”

Zacks Investment Research upgraded shares of Tuesday Morning Co. (NASDAQ:TUES) from a sell rating to a hold rating in a report released 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. “

TUES has been the subject of several other research reports. Johnson Rice cut shares of Tuesday Morning from an accumulate rating to a hold rating in a research report on Wednesday, January 18th. B. Riley reaffirmed a neutral rating and issued a $4.50 price target on shares of Tuesday Morning in a research report on Saturday, February 11th. 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 company. The stock presently has a consensus rating of Hold and an average target price of $6.75.

Shares of Tuesday Morning (NASDAQ:TUES) traded down 0.746% on Thursday, hitting $3.325. The stock had a trading volume of 72,150 shares. The firm has a 50 day moving average of $3.52 and a 200-day moving average of $4.61. Tuesday Morning has a 1-year low of $3.15 and a 1-year high of $9.23. The firm’s market capitalization is $146.19 million.

Tuesday Morning (NASDAQ:TUES) last announced its quarterly earnings results on Friday, February 3rd. The company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.37 by $0.18. Tuesday Morning had a negative return on equity of 4.20% and a negative net margin of 0.98%. The business earned $328.10 million during the quarter, compared to analysts’ expectations of $327.90 million. During the same period in the previous year, the company posted $0.43 EPS. Equities analysts predict that Tuesday Morning will post ($0.53) earnings per share for the current year.

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In related news, CEO Steven R. Becker purchased 200,000 shares of the firm’s stock in a transaction on Monday, February 6th. The stock was acquired at an average price of $3.66 per share, with a total value of $732,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 4.40% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Two Sigma Investments LP bought a new position in Tuesday Morning during the fourth quarter worth about $113,000. Teza Capital Management LLC bought a new position in Tuesday Morning during the fourth quarter worth about $232,000. Comerica Bank boosted its position in Tuesday Morning by 5.1% in the fourth quarter. Comerica Bank now owns 47,459 shares of the company’s stock worth $254,000 after buying an additional 2,315 shares in the last quarter. Analytic Investors LLC bought a new position in Tuesday Morning during the third quarter worth about $318,000. Finally, Teachers Advisors LLC raised its stake in Tuesday Morning by 6.7% in the fourth quarter. Teachers Advisors LLC now owns 72,796 shares of the company’s stock worth $393,000 after buying an additional 4,588 shares during the last quarter. 88.90% of the stock is owned by institutional investors and hedge funds.

About Tuesday Morning

Tuesday Morning Corporation is an off-price retailer. The Company specializes in selling discounted, upscale decorative home accessories, housewares, seasonal goods and famous-maker gifts. The Company operated 751 stores in 40 states in the United States, as of June 30, 2016. The Company offers products in a range of categories, such as home decor, furniture, bed and bath, kitchen, toys, crafts, pets and seasonal goods.

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