The Container Store Group, Inc. (NYSE:TCS) Short Interest Down 20.1% in May

The Container Store Group, Inc. (NYSE:TCSGet Rating) was the recipient of a significant decline in short interest during the month of May. As of May 31st, there was short interest totalling 1,910,000 shares, a decline of 20.1% from the May 15th total of 2,390,000 shares. Based on an average trading volume of 509,400 shares, the days-to-cover ratio is currently 3.7 days. Currently, 5.9% of the shares of the company are short sold.

The Container Store Group stock traded up $0.28 during midday trading on Friday, reaching $7.05. 802,879 shares of the stock were exchanged, compared to its average volume of 644,929. The company’s fifty day moving average is $7.62 and its 200-day moving average is $8.88. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.29 and a current ratio of 1.11. The firm has a market cap of $356.91 million, a PE ratio of 4.36 and a beta of 1.24. The Container Store Group has a 52 week low of $6.70 and a 52 week high of $14.25.

The Container Store Group (NYSE:TCSGet Rating) last posted its earnings results on Tuesday, May 17th. The specialty retailer reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.14. The Container Store Group had a net margin of 7.47% and a return on equity of 20.73%. The business had revenue of $305.55 million for the quarter, compared to analyst estimates of $281.32 million. During the same quarter in the prior year, the firm posted $0.71 EPS. On average, sell-side analysts anticipate that The Container Store Group will post 1.25 earnings per share for the current fiscal year.

Several analysts have recently issued reports on the stock. Lake Street Capital assumed coverage on shares of The Container Store Group in a research report on Wednesday, April 13th. They issued a “buy” rating and a $10.00 price target on the stock. StockNews.com initiated coverage on shares of The Container Store Group in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. The Goldman Sachs Group decreased their target price on shares of The Container Store Group from $11.50 to $9.00 and set a “neutral” rating on the stock in a report on Thursday, May 19th. Finally, TheStreet lowered shares of The Container Store Group from a “b-” rating to a “c+” rating in a report on Wednesday, February 23rd.

In related news, CEO Satish Malhotra bought 14,600 shares of the company’s stock in a transaction on Thursday, June 16th. The shares were purchased at an average cost of $6.83 per share, for a total transaction of $99,718.00. Following the completion of the purchase, the chief executive officer now directly owns 466,801 shares in the company, valued at $3,188,250.83. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 35.40% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in TCS. Citigroup Inc. grew its stake in The Container Store Group by 65.4% in the 3rd quarter. Citigroup Inc. now owns 4,326 shares of the specialty retailer’s stock worth $41,000 after buying an additional 1,711 shares in the last quarter. GHP Investment Advisors Inc. purchased a new position in The Container Store Group in the 1st quarter worth approximately $41,000. Patriot Financial Group Insurance Agency LLC grew its stake in The Container Store Group by 1,090.0% in the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 5,950 shares of the specialty retailer’s stock worth $49,000 after buying an additional 5,450 shares in the last quarter. Retirement Planning Co of New England Inc. purchased a new position in The Container Store Group in the 4th quarter worth approximately $52,000. Finally, Allspring Global Investments Holdings LLC purchased a new stake in shares of The Container Store Group in the 4th quarter valued at $52,000. 84.83% of the stock is owned by institutional investors and hedge funds.

About The Container Store Group (Get Rating)

The Container Store Group, Inc operates as a retailer of storage and organization products and solutions in the United States. It operates in two segments, The Container Store and Elfa. The company provides approximately 11,000 products designed to help customers. Its merchandise category includes Custom Closets, including elfa, Laren, and Avera branded products and installation services, as well as closet lifestyle department products; storage, long-term storage, and shelving; kitchen and trash; office, collections, and hooks; bath, travel, and laundry; gift packaging, seasonal, and impulse; and others.

Featured Stories

Receive News & Ratings for The Container Store Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Container Store Group and related companies with MarketBeat.com's FREE daily email newsletter.