Goldman Sachs Group Initiates Coverage on Container Store Group (NYSE:TCS)

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Goldman Sachs Group began coverage on shares of Container Store Group (NYSE:TCS) in a research note issued to investors on Thursday morning, BenzingaRatingsTable reports. The firm issued a sell rating and a $7.00 target price on the specialty retailer’s stock.

Several other research analysts have also weighed in on the company. Barclays reiterated a buy rating on shares of Netflix in a report on Thursday, May 16th. TheStreet upgraded Third Point Reinsurance from a d+ rating to a c- rating in a report on Tuesday, May 14th. Zacks Investment Research upgraded Zurich Insurance Group from a sell rating to a hold rating in a report on Saturday, May 18th. Finally, ValuEngine lowered Willdan Group from a buy rating to a hold rating in a report on Thursday, May 30th. Three research analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a buy rating to the stock. Container Store Group currently has a consensus rating of Hold and a consensus price target of $8.06.

TCS stock opened at $6.97 on Thursday. The business’s 50-day simple moving average is $7.38. The company has a current ratio of 1.16, a quick ratio of 0.39 and a debt-to-equity ratio of 0.96. The company has a market capitalization of $345.13 million, a price-to-earnings ratio of 16.60 and a beta of 2.30. Container Store Group has a 1-year low of $4.21 and a 1-year high of $12.42.

Container Store Group (NYSE:TCS) last posted its earnings results on Tuesday, May 14th. The specialty retailer reported $0.33 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.03. The firm had revenue of $253.20 million for the quarter, compared to analyst estimates of $243.20 million. Container Store Group had a return on equity of 8.23% and a net margin of 2.42%. The company’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.18 earnings per share. On average, sell-side analysts expect that Container Store Group will post 0.49 earnings per share for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in TCS. BNP Paribas Arbitrage SA raised its stake in shares of Container Store Group by 61.8% in the 1st quarter. BNP Paribas Arbitrage SA now owns 4,487 shares of the specialty retailer’s stock valued at $39,000 after purchasing an additional 1,714 shares during the period. Macquarie Group Ltd. raised its stake in shares of Container Store Group by 324.0% in the 4th quarter. Macquarie Group Ltd. now owns 10,600 shares of the specialty retailer’s stock valued at $51,000 after purchasing an additional 8,100 shares during the period. HRT Financial LLC acquired a new stake in shares of Container Store Group in the 4th quarter valued at about $56,000. Rhumbline Advisers raised its stake in shares of Container Store Group by 44.6% in the 4th quarter. Rhumbline Advisers now owns 22,543 shares of the specialty retailer’s stock valued at $108,000 after purchasing an additional 6,953 shares during the period. Finally, First Trust Advisors LP raised its stake in shares of Container Store Group by 18.8% in the 4th quarter. First Trust Advisors LP now owns 27,330 shares of the specialty retailer’s stock valued at $130,000 after purchasing an additional 4,329 shares during the period. 78.12% of the stock is currently owned by hedge funds and other institutional investors.

Container Store Group Company Profile

The Container Store Group, Inc engages in the retailing of storage and organization products and solutions in the United States. The company operates in two segments, The Container Store and Elfa. Its retail stores provide various lifestyle products, including closets, collections, and hooks, as well as bath, kitchen, laundry, gift packaging, long-term storage, office, shelving, storage, trash, travel, and elfa branded products.

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