The Container Store Group (NYSE:TCS) Shares Gap Up to $11.42

Shares of The Container Store Group, Inc. (NYSE:TCS - Get Free Report) gapped up prior to trading on Thursday . The stock had previously closed at $11.42, but opened at $11.76. The Container Store Group shares last traded at $11.66, with a volume of 2,597 shares trading hands.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group dropped their target price on The Container Store Group from $2.00 to $1.00 and set a "neutral" rating on the stock in a report on Tuesday, May 28th.

The Container Store Group Stock Performance

The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.49 and a current ratio of 1.31. The firm has a market capitalization of $574.60 million, a price-to-earnings ratio of -5.33 and a beta of 1.03. The stock's fifty day moving average is $0.98 and its two-hundred day moving average is $0.95.

The Container Store Group (NYSE:TCS - Get Free Report) last announced its earnings results on Tuesday, August 6th. The specialty retailer reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.08). The Container Store Group had a negative net margin of 12.91% and a negative return on equity of 9.77%. The business had revenue of $181.86 million for the quarter, compared to analyst estimates of $190.01 million. During the same quarter in the prior year, the business earned ($0.21) earnings per share. Analysts forecast that The Container Store Group, Inc. will post -0.28 earnings per share for the current year.

Hedge Funds Weigh In On The Container Store Group

Several institutional investors and hedge funds have recently made changes to their positions in the business. Quadrature Capital Ltd acquired a new position in The Container Store Group in the fourth quarter worth about $34,000. Renaissance Technologies LLC grew its position in shares of The Container Store Group by 21.0% in the 2nd quarter. Renaissance Technologies LLC now owns 88,200 shares of the specialty retailer's stock worth $48,000 after acquiring an additional 15,300 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of The Container Store Group in the 2nd quarter valued at approximately $165,000. Jacobs Levy Equity Management Inc. acquired a new stake in shares of The Container Store Group during the 1st quarter valued at approximately $490,000. Finally, Zazove Associates LLC lifted its stake 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 worth $536,000 after purchasing an additional 197,831 shares during the last quarter. 67.11% of the stock is currently owned by hedge funds and other institutional investors.

About The Container Store Group

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 organizers, cosmetic and jewelry organizers, shower and bathtub organizers, drawer organization, and cabinet storage products; closets; and ventilated and solid shelving and drawer components and systems, wall and door rack solutions, accessories, utility and garage systems, and sliding doors.