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. “
Several other research analysts have also recently commented on TUES. ValuEngine cut shares of Tuesday Morning from a hold rating to a sell rating in a research report on Wednesday, May 8th. Lake Street Capital started coverage on shares of Tuesday Morning in a report on Friday, June 7th. They issued a buy rating and a $4.00 price objective for the company. Finally, B. Riley cut shares of Tuesday Morning from a buy rating to a neutral rating and decreased their price objective for the company from $3.00 to $2.40 in a report on Thursday, April 11th.
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, beating analysts’ consensus estimates of ($0.25) by $0.07. The business had revenue of $210.98 million for the quarter, compared to analyst estimates of $213.83 million. Tuesday Morning had a negative net margin of 1.06% and a negative return on equity of 5.89%. Sell-side analysts forecast that Tuesday Morning will post -0.32 earnings per share for the current year.
In related news, CEO Steven R. Becker acquired 19,030 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The stock was acquired at an average cost of $1.51 per share, for a total transaction of $28,735.30. Following the completion of the acquisition, the chief executive officer now directly owns 1,630,325 shares of the company’s stock, valued at approximately $2,461,790.75. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Steven R. Becker acquired 25,000 shares of the firm’s stock in a transaction dated Friday, May 24th. The stock was bought at an average price of $1.62 per share, with a total value of $40,500.00. Following the completion of the acquisition, the chief executive officer now directly owns 1,611,295 shares of the company’s stock, valued at $2,610,297.90. The disclosure for this purchase can be found here. Insiders bought 259,130 shares of company stock valued at $435,859 over the last quarter. Insiders own 7.00% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Marshall Wace LLP purchased a new stake in Tuesday Morning in the 1st quarter worth approximately $863,000. Relative Value Partners Group LLC purchased a new stake in Tuesday Morning in the 1st quarter worth approximately $43,000. Alambic Investment Management L.P. purchased a new stake in Tuesday Morning in the 1st quarter worth approximately $193,000. Acadian Asset Management LLC purchased a new stake in Tuesday Morning in the 1st quarter worth approximately $446,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Tuesday Morning in the 1st quarter worth approximately $112,000. Institutional investors and hedge funds own 63.94% of the company’s stock.
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.
Read More: Neutral Rating
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