Tile Shop Hldgs, Inc. (TTS) Hits New 52-Week Low on Analyst Downgrade
Tile Shop Hldgs, Inc. (NASDAQ:TTS) shares reached a new 52-week low on Tuesday after Citigroup lowered their price target on the stock from $17.00 to $11.00. Citigroup currently has a neutral rating on the stock. Tile Shop Hldgs traded as low as $8.80 and last traded at $8.78, with a volume of 11,320,918 shares trading hands. The stock had previously closed at $13.20.
A number of other research firms have also recently weighed in on TTS. BidaskClub upgraded shares of Tile Shop Hldgs from a “hold” rating to a “buy” rating in a research note on Friday, June 16th. Zacks Investment Research upgraded shares of Tile Shop Hldgs from a “sell” rating to a “hold” rating in a research note on Wednesday, September 6th. Telsey Advisory Group restated a “market perform” rating and set a $17.00 target price (down previously from $21.00) on shares of Tile Shop Hldgs in a research note on Wednesday, July 19th. Loop Capital began coverage on shares of Tile Shop Hldgs in a research note on Wednesday, July 19th. They set a “hold” rating and a $15.00 target price on the stock. Finally, Piper Jaffray Companies set a $19.00 target price on shares of Tile Shop Hldgs and gave the company a “buy” rating in a research note on Tuesday, July 18th. One investment analyst has rated the stock with a sell rating and seven have given a hold rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $9.75.
In related news, Director Peter H. Kamin purchased 29,600 shares of the firm’s stock in a transaction on Tuesday, July 25th. The shares were acquired at an average price of $13.60 per share, for a total transaction of $402,560.00. Following the purchase, the director now directly owns 471,002 shares in the company, valued at $6,405,627.20. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Chris Homeister purchased 9,000 shares of the firm’s stock in a transaction on Friday, July 21st. The stock was bought at an average price of $13.98 per share, for a total transaction of $125,820.00. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 259,454 shares of company stock worth $3,710,115. Corporate insiders own 24.30% of the company’s stock.
Hedge funds have recently made changes to their positions in the business. Goldman Sachs Group Inc. lifted its stake in Tile Shop Hldgs by 300.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 351,640 shares of the company’s stock worth $6,769,000 after purchasing an additional 263,745 shares in the last quarter. State Street Corp lifted its stake in Tile Shop Hldgs by 6.7% in the 1st quarter. State Street Corp now owns 749,255 shares of the company’s stock worth $14,422,000 after purchasing an additional 47,340 shares in the last quarter. UBS Group AG lifted its stake in Tile Shop Hldgs by 558.4% in the 1st quarter. UBS Group AG now owns 24,591 shares of the company’s stock worth $474,000 after purchasing an additional 20,856 shares in the last quarter. Legal & General Group Plc lifted its stake in Tile Shop Hldgs by 1.5% in the 1st quarter. Legal & General Group Plc now owns 55,668 shares of the company’s stock worth $1,070,000 after purchasing an additional 820 shares in the last quarter. Finally, Emerald Mutual Fund Advisers Trust lifted its stake in Tile Shop Hldgs by 16.6% in the 2nd quarter. Emerald Mutual Fund Advisers Trust now owns 856,455 shares of the company’s stock worth $17,686,000 after purchasing an additional 121,823 shares in the last quarter. Institutional investors and hedge funds own 68.33% of the company’s stock.
The company has a 50 day moving average of $14.46 and a 200 day moving average of $17.86. The company has a market cap of $441.35 million, a price-to-earnings ratio of 21.25 and a beta of 1.79.
Tile Shop Hldgs (NASDAQ:TTS) last posted its quarterly earnings data on Tuesday, July 18th. The company reported $0.15 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.01). The company had revenue of $89.50 million for the quarter, compared to analysts’ expectations of $93.20 million. Tile Shop Hldgs had a net margin of 6.11% and a return on equity of 17.45%. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.14 earnings per share. On average, equities analysts forecast that Tile Shop Hldgs, Inc. will post $0.43 earnings per share for the current year.
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About Tile Shop Hldgs
Tile Shop Holdings, Inc operates as a specialty retailer of manufactured and natural stone tiles, setting and maintenance materials, and related accessories in the United States. It offers approximately 4,000 products, including ceramic, porcelain, glass, cement, wood look, and metal tiles; and marble, granite, quartz, sandstone, travertine, slate, and onyx tiles primarily under the Rush River and Fired Earth brand names.
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