Tuesday Morning (TUES) Raised to “Hold” at Zacks Investment Research

Tuesday Morning (NASDAQ:TUES) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Saturday.

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 reaffirmed a “hold” rating and issued a $3.30 price objective on shares of Tuesday Morning in a research report on Friday, October 27th. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company. The stock has an average rating of “Hold” and a consensus price target of $2.90.

Tuesday Morning (NASDAQ:TUES) traded up $0.05 during mid-day trading on Friday, reaching $2.95. The company had a trading volume of 150,355 shares, compared to its average volume of 142,680. The company has a market cap of $132.94, a PE ratio of -3.60 and a beta of 1.97. Tuesday Morning has a fifty-two week low of $1.60 and a fifty-two week high of $5.70. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.70 and a quick ratio of 0.12.

Tuesday Morning (NASDAQ:TUES) last released its quarterly earnings data on Thursday, November 2nd. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.08). The business had revenue of $218.76 million during the quarter, compared to the consensus estimate of $216.39 million. Tuesday Morning had a negative net margin of 3.69% and a negative return on equity of 17.31%. The business’s revenue was up 3.2% compared to the same quarter last year. During the same period last year, the company posted ($0.20) earnings per share. analysts predict that Tuesday Morning will post -0.51 EPS for the current year.

In other Tuesday Morning news, Director Sherry M. Smith acquired 13,084 shares of the stock in a transaction that occurred on Wednesday, November 15th. The shares were acquired at an average cost of $2.75 per share, with a total value of $35,981.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 4.60% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in TUES. Quantitative Investment Management LLC purchased a new stake in Tuesday Morning during the 2nd quarter valued at $130,000. GSA Capital Partners LLP raised its stake in Tuesday Morning by 29.4% during the 2nd quarter. GSA Capital Partners LLP now owns 338,900 shares of the company’s stock valued at $644,000 after buying an additional 77,000 shares during the last quarter. California Public Employees Retirement System raised its stake in Tuesday Morning by 5.6% during the 2nd quarter. California Public Employees Retirement System now owns 323,000 shares of the company’s stock valued at $614,000 after buying an additional 17,000 shares during the last quarter. Virtu KCG Holdings LLC purchased a new stake in Tuesday Morning during the 2nd quarter valued at $272,000. Finally, Dimensional Fund Advisors LP raised its stake in Tuesday Morning by 4.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,778,397 shares of the company’s stock valued at $7,179,000 after buying an additional 153,188 shares during the last quarter. Institutional investors and hedge funds own 71.23% of the company’s stock.

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Tuesday Morning Company Profile

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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