Robert E. Jordan Acquires 30,000 Shares of The Container Store Group, Inc. (NYSE:TCS) Stock

Posted by Defense World Staff on Sep 3rd, 2023

The Container Store Group, Inc. (NYSE:TCS – Get Free Report) Director Robert E. Jordan purchased 30,000 shares of the stock in a transaction that occurred on Wednesday, August 30th. The stock was bought at an average price of $2.35 per share, with a total value of $70,500.00. Following the completion of the acquisition, the director now owns 224,059 shares in the company, valued at approximately $526,538.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

The Container Store Group Stock Down 1.3 %

NYSE:TCS opened at $2.31 on Friday. The company has a market capitalization of $118.72 million, a price-to-earnings ratio of -0.62 and a beta of 1.56. The Container Store Group, Inc. has a one year low of $2.15 and a one year high of $6.90. The stock has a 50-day simple moving average of $2.91 and a 200 day simple moving average of $3.17. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.32 and a current ratio of 1.25.

The Container Store Group (NYSE:TCS – Get Free Report) last posted its quarterly earnings results on Tuesday, August 1st. The specialty retailer reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.13). The firm had revenue of $207.11 million during the quarter, compared to analyst estimates of $209.19 million. The Container Store Group had a positive return on equity of 4.73% and a negative net margin of 18.27%. Sell-side analysts predict that The Container Store Group, Inc. will post 0.1 EPS for the current fiscal year.

Hedge Funds Weigh In On The Container Store Group

A number of hedge funds have recently bought and sold shares of the company. XTX Topco Ltd grew its stake in The Container Store Group by 81.0% in the second quarter. XTX Topco Ltd now owns 20,381 shares of the specialty retailer’s stock worth $64,000 after purchasing an additional 9,121 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in The Container Store Group in the second quarter worth about $98,000. Point72 Middle East FZE bought a new position in The Container Store Group in the second quarter worth about $49,000. Quadrature Capital Ltd bought a new position in The Container Store Group in the second quarter worth about $53,000. Finally, Wexford Capital LP bought a new position in The Container Store Group in the second quarter worth about $771,000. 69.50% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently issued reports on TCS shares. StockNews.com assumed coverage on The Container Store Group in a report on Thursday, August 17th. They issued a “hold” rating for the company. Lake Street Capital downgraded The Container Store Group from a “buy” rating to a “hold” rating and lowered their target price for the company from $5.00 to $3.50 in a research note on Wednesday, August 2nd. Finally, TheStreet downgraded The Container Store Group from a “c” rating to a “d” rating in a research note on Wednesday, May 17th. One investment analyst has rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $4.50.

Check Out Our Latest Stock Analysis on The Container Store Group

The Container Store Group Company Profile

(Get Free Report)

The Container Store Group, Inc operates as a specialty retailer of organizing solutions, custom spaces, and in-home organizing services in the United States. The company operates in two segments, The Container Store and Elfa. Its stores provide custom space offerings; countertop organizers, cosmetic and jewelry organizers, shower and bathtub organizers, drawer organization, and cabinet storage products; closets; and ventilated and solid shelving and drawer components and systems, wall and door rack solutions, accessories, utility and garage systems, and sliding doors.