Container Store Group Inc (NYSE:TCS) shares are trading down over 38% this morning after the company reported less than spectacular Third Quarter earnings. Coming into the day, analysts thought that the company would see earnings of $0.05 per share, which already was lower than last year’s $0.07 earnings. However, Container Store Group Inc (NYSE:TCS) reported that they lost $0.04 per share on revenue of $197.2 million.
As for future forecasts, Container Store Group Inc (NYSE:TCS) also disappointed investors in that area. They report that they expect Fourth Quarter earnings of between $0.19 and $0.22 a share, which is much lower than analysts have been predicting. The analysts had estimated that the company would see $0.29 per share in the Q4.
“The shortfall versus our expectations was largely driven by expense items, the majority of which are non-recurring and unusual in nature,” CEO Kip Tindell stated.
The stock has dropped 38.30% or $2.75 trading at $4.43. About 2.44 million shares traded hands or 551.51% up from the average. TCS has declined 58.26% since June 4, 2015 and is downtrending. It has underperformed the S&P500 by 52.40%.
From a total of 4 analysts covering Container Store Group Inc (NYSE:TCS) stock, 0 rate it a “Buy”, 1 a “Sell”, and 3 a “Hold”. This means that 0 of the ratings are positive. The highest target price is $18 while the lowest target price is $16. The mean of all analyst targets is $16 which is 261.17% above today’s ($4.43) stock price. Container Store Group Inc was the topic of 5 analyst reports since August 20, 2015 according to the firm StockzIntelligence Inc. Goldman Sachs initiated shares on December 17 with a “Neutral” rating. BB&T Capital upgraded TCS stock in a recent report from August 20 to a “Hold” rating.
The institutional sentiment decreased to 1.05 in Q2 2015. It’s down 0.24, from 1.29 in 2015Q2. The ratio fall, as 9 funds sold all their Container Store Group Inc shares they owned while 28 reduced their positions. 14 funds bought stakes while 25 increased their total positions. Institutions now own 47.50 million shares which is 18.91% more than the previous share count of 39.95 million in 2015Q2.
Leonard Green Partners Lp holds 26.12% of its total portfolio in Container Store Group Inc, equating to 27.51 million shares. Crescent Capital Group Lp owns 545,173 shares representing 9.48% of their total US portfolio. Moreover, Apex Capital Llc has 2.86% of their total portfolio invested in the company, equating to 2.14 million shares. The California-based Westerly Capital Management Llc has a total of 1.18% of their portfolio invested in the stock. Cohen Capital Management Inc., a California-based fund reported 153,780 shares owned.
Since October 14, 2015, the stock had 1 insider buy, and 0 selling transactions for a total of $62,495 in net activity. Taylor Jodi bought 5,000 shares worth $62,495.
The Container Store Group, Inc. is a specialty retailer of storage and organization products in the United States. The company has a market cap of $334.72 million. The Firm is the original storage and organization specialty retailer. It has 24.51 P/E ratio. The Firm operates in two divisions: TCS and Elfa.