Tuesday Morning (NASDAQ:TUES) Upgraded by Zacks Investment Research to “Hold”

Zacks Investment Research upgraded shares of Tuesday Morning (NASDAQ:TUES) from a sell rating to a hold rating in a report issued on Saturday, January 6th.

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 reiterated a hold rating and issued a $3.30 price target on shares of Tuesday Morning in a research note on Friday, October 27th. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. Tuesday Morning has an average rating of Hold and a consensus price target of $3.00.

Tuesday Morning (NASDAQ:TUES) opened at $3.20 on Friday. The company has a market cap of $146.69, a price-to-earnings ratio of -3.90 and a beta of 1.97. The company has a current ratio of 1.70, a quick ratio of 0.12 and a debt-to-equity ratio of 0.23. Tuesday Morning has a twelve month low of $1.60 and a twelve month high of $5.70.

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

In other news, Director Sherry M. Smith acquired 13,084 shares of the business’s stock in a transaction on Wednesday, November 15th. The shares were acquired at an average price of $2.75 per share, for a total transaction of $35,981.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 4.60% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in TUES. Wells Fargo & Company MN increased its holdings in shares of Tuesday Morning by 281.5% during the third quarter. Wells Fargo & Company MN now owns 36,612 shares of the company’s stock valued at $117,000 after acquiring an additional 27,016 shares in the last quarter. Quantitative Investment Management LLC acquired a new stake in shares of Tuesday Morning during the 2nd quarter worth approximately $130,000. Citadel Advisors LLC purchased a new position in shares of Tuesday Morning during the 3rd quarter valued at approximately $143,000. Teton Advisors Inc. lifted its position in shares of Tuesday Morning by 285.7% during the 3rd quarter. Teton Advisors Inc. now owns 54,000 shares of the company’s stock valued at $173,000 after buying an additional 40,000 shares in the last quarter. Finally, Russell Investments Group Ltd. purchased a new position in shares of Tuesday Morning during the 3rd quarter valued at approximately $236,000. 71.23% of the stock is owned by institutional investors.

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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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