Zacks Investment Research Upgrades Tile Shop Hldgs, Inc. (TTS) to “Hold”

Tile Shop Hldgs, Inc. (NASDAQ:TTS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Thursday.

According to Zacks, “Tile Shop Holdings, Inc. is the parent company of The Tile Shop. The Tile Shop is a specialty retailer of manufactured and natural stone tiles, setting and maintenance materials, and related accessories in the United States. It offers floor, wall, natural stone, ceramic, porcelain, glass, and metal tile products; tile patterns; basins; fixtures; listellos/borders; and profiles. Tile Shop Holdings, Inc. is based in Plymouth, Minnesota. “

Several other research firms have also recently issued reports on TTS. BidaskClub upgraded Tile Shop Hldgs from a “hold” rating to a “buy” rating in a research report on Friday, June 16th. Stifel Nicolaus reiterated a “hold” rating and issued a $15.00 price objective (down previously from $18.00) on shares of Tile Shop Hldgs in a research report on Friday, July 21st. Loop Capital initiated coverage on Tile Shop Hldgs in a report on Wednesday, July 19th. They issued a “hold” rating and a $15.00 target price on the stock. Telsey Advisory Group reissued a “market perform” rating and issued a $17.00 target price (down previously from $21.00) on shares of Tile Shop Hldgs in a report on Wednesday, July 19th. Finally, Piper Jaffray Companies set a $19.00 target price on Tile Shop Hldgs and gave the company a “buy” rating in a report on Tuesday, July 18th. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $17.17.

Tile Shop Hldgs (NASDAQ TTS) traded up 3.58% during trading on Thursday, hitting $15.90. 1,158,471 shares of the stock traded hands. The firm’s 50-day moving average is $15.06 and its 200-day moving average is $18.33. The stock has a market cap of $825.58 million, a P/E ratio of 39.75 and a beta of 1.87. Tile Shop Hldgs has a 12 month low of $13.30 and a 12 month high of $22.40.

Tile Shop Hldgs (NASDAQ:TTS) last released its quarterly earnings results on Tuesday, July 18th. The company reported $0.15 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.01). Tile Shop Hldgs had a return on equity of 17.45% and a net margin of 6.11%. The company had revenue of $89.50 million for the quarter, compared to analysts’ expectations of $93.20 million. During the same quarter last year, the company earned $0.14 EPS. Tile Shop Hldgs’s revenue for the quarter was up 6.2% compared to the same quarter last year. On average, analysts forecast that Tile Shop Hldgs will post $0.52 EPS for the current year.

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In related news, Director Robert A. Rucker sold 35,199 shares of the firm’s stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $20.43, for a total transaction of $719,115.57. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Peter J. Jacullo III bought 10,000 shares of the company’s stock in a transaction that occurred on Monday, July 24th. The shares were bought at an average price of $13.90 per share, for a total transaction of $139,000.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 259,454 shares of company stock worth $3,710,115 and sold 150,000 shares worth $3,041,348. Company insiders own 24.30% of the company’s stock.

Several large investors have recently made changes to their positions in TTS. Bank of Montreal Can raised its holdings in shares of Tile Shop Hldgs by 7.7% during the 2nd quarter. Bank of Montreal Can now owns 5,814 shares of the company’s stock valued at $120,000 after buying an additional 416 shares during the period. BNP Paribas Arbitrage SA raised its holdings in shares of Tile Shop Hldgs by 13.2% during the 1st quarter. BNP Paribas Arbitrage SA now owns 6,867 shares of the company’s stock valued at $132,000 after buying an additional 802 shares during the period. State of Alaska Department of Revenue raised its holdings in shares of Tile Shop Hldgs by 79.3% during the 2nd quarter. State of Alaska Department of Revenue now owns 6,525 shares of the company’s stock valued at $134,000 after buying an additional 2,885 shares during the period. Mason Street Advisors LLC raised its holdings in shares of Tile Shop Hldgs by 6.8% during the 1st quarter. Mason Street Advisors LLC now owns 7,710 shares of the company’s stock valued at $148,000 after buying an additional 494 shares during the period. Finally, Victory Capital Management Inc. raised its holdings in shares of Tile Shop Hldgs by 14.7% during the 1st quarter. Victory Capital Management Inc. now owns 8,171 shares of the company’s stock valued at $157,000 after buying an additional 1,046 shares during the period. Institutional investors and hedge funds own 68.33% of the company’s stock.

About Tile Shop Hldgs

Tile Shop Holdings, Inc operates as a specialty retailer of manufactured and natural stone tiles, setting and maintenance materials, and related accessories in the United States. It offers approximately 4,000 products, including ceramic, porcelain, glass, cement, wood look, and metal tiles; and marble, granite, quartz, sandstone, travertine, slate, and onyx tiles primarily under the Rush River and Fired Earth brand names.

Analyst Recommendations for Tile Shop Hldgs (NASDAQ:TTS)

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