The Container Store Group (NYSE:TCS) Shares Gap Up – Time to Buy?

The Container Store Group, Inc. (NYSE:TCS)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $10.70, but opened at $13.76. The Container Store Group shares last traded at $12.31, with a volume of 313,377 shares changing hands.

The Container Store Group Price Performance

The stock has a market capitalization of $619.07 million, a PE ratio of -6.07 and a beta of 1.02. The company has a quick ratio of 0.49, a current ratio of 1.31 and a debt-to-equity ratio of 1.47.

The Container Store Group (NYSE:TCS) last issued its earnings results on Tuesday, August 6th. The specialty retailer reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.08). The firm had revenue of $181.86 million during the quarter, compared to analysts’ expectations of $190.01 million. The Container Store Group had a negative return on equity of 9.77% and a negative net margin of 12.91%. During the same period last year, the firm posted ($0.21) earnings per share. As a group, research analysts expect that The Container Store Group, Inc. will post -6.36 earnings per share for the current year.

Institutional Trading of The Container Store Group

Several institutional investors have recently added to or reduced their stakes in TCS. Quadrature Capital Ltd purchased a new position in The Container Store Group in the 4th quarter worth about $34,000. Renaissance Technologies LLC lifted its position in The Container Store Group by 21.0% during the second quarter. Renaissance Technologies LLC now owns 88,200 shares of the specialty retailer’s stock valued at $48,000 after purchasing an additional 15,300 shares during the period. Assenagon Asset Management S.A. purchased a new stake in The Container Store Group in the second quarter worth approximately $165,000. Jacobs Levy Equity Management Inc. bought a new stake in The Container Store Group in the 1st quarter worth approximately $490,000. Finally, Zazove Associates LLC increased its position in The Container Store Group by 72.6% during the first quarter. Zazove Associates LLC now owns 470,410 shares of the specialty retailer’s stock valued at $536,000 after acquiring an additional 197,831 shares during the last quarter. 67.11% of the stock is currently owned by hedge funds and other institutional investors.

The Container Store Group Company Profile

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, cosmetic and jewelry, shower and bathtub, drawer organizers, and cabinet storage products; closets that includes shoe storage, hangers, drawer organizers, boxes and bins, hanging storage bags, garment racks, jewelry storage, and bedding.