Tuesday Morning (TUES) Upgraded 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 issued on Saturday, Zacks.com reports.

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. B. Riley raised Tuesday Morning from a “neutral” rating to a “buy” rating and upped their target price for the stock from $2.20 to $3.00 in a research note on Friday, February 1st. ValuEngine lowered Tuesday Morning from a “hold” rating to a “sell” rating in a research note on Wednesday, May 8th.

Shares of TUES opened at $1.69 on Friday. The company has a market capitalization of $80.81 million, a price-to-earnings ratio of 3.38 and a beta of 1.55. The company has a quick ratio of 0.16, a current ratio of 2.00 and a debt-to-equity ratio of 0.19. Tuesday Morning has a 1 year low of $1.60 and a 1 year high of $3.55.

Tuesday Morning (NASDAQ:TUES) last issued its earnings results on Tuesday, May 7th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.25) by $0.07. The business had revenue of $210.98 million during the quarter, compared to analyst estimates of $213.83 million. Tuesday Morning had a negative return on equity of 5.89% and a negative net margin of 1.06%. Sell-side analysts anticipate that Tuesday Morning will post -0.32 earnings per share for the current fiscal year.

In related news, CEO Steven R. Becker acquired 180,100 shares of the company’s stock in a transaction dated Thursday, May 9th. The stock was purchased at an average price of $1.74 per share, with a total value of $313,374.00. Following the completion of the purchase, the chief executive officer now owns 1,571,295 shares in the company, valued at approximately $2,734,053.30. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 7.00% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Grace & White Inc. NY boosted its stake in shares of Tuesday Morning by 0.5% during the first quarter. Grace & White Inc. NY now owns 1,822,895 shares of the company’s stock valued at $3,865,000 after purchasing an additional 9,109 shares during the period. Royce & Associates LP boosted its stake in shares of Tuesday Morning by 4.3% during the fourth quarter. Royce & Associates LP now owns 1,504,857 shares of the company’s stock valued at $2,558,000 after purchasing an additional 62,500 shares during the period. BlackRock Inc. boosted its stake in shares of Tuesday Morning by 9.7% during the first quarter. BlackRock Inc. now owns 947,320 shares of the company’s stock valued at $2,009,000 after purchasing an additional 83,627 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Tuesday Morning by 101.7% during the first quarter. Renaissance Technologies LLC now owns 873,776 shares of the company’s stock valued at $1,852,000 after purchasing an additional 440,478 shares during the period. Finally, 1060 Capital LLC purchased a new stake in shares of Tuesday Morning during the fourth quarter valued at approximately $1,122,000. 67.68% of the stock is owned by hedge funds and other institutional investors.

About Tuesday Morning

Tuesday Morning Corporation operates as an off-price retailer in the United States. The company offers various products, such as upscale home textiles, home furnishings, housewares, gourmet food products, toys, and seasonal décor products. As of September 30, 2018, it operated approximately 719 stores in 40 states.

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