The Container Store Group (NYSE:TCS) Shares Gap Down – What’s Next?

The Container Store Group, Inc. (NYSE:TCS) shares gapped down before the market opened on Thursday . The stock had previously closed at $11.13, but opened at $10.78. The Container Store Group shares last traded at $10.66, with a volume of 22,297 shares trading hands.

The Container Store Group Price Performance

The stock has a market cap of $523.63 million, a price-to-earnings ratio of -5.03 and a beta of 1.02. The company has a current ratio of 1.31, a quick ratio of 0.49 and a debt-to-equity ratio of 1.47.

The Container Store Group (NYSE:TCS) 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 firm had revenue of $181.86 million for the quarter, compared to the consensus estimate of $190.01 million. During the same period in the prior year, the business earned ($0.21) EPS. On average, equities analysts predict that The Container Store Group, Inc. will post -6.36 earnings per share for the current year.

Institutional Investors Weigh In On The Container Store Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quadrature Capital Ltd purchased a new stake in shares of The Container Store Group during the 4th quarter worth about $34,000. Renaissance Technologies LLC raised its holdings in shares of The Container Store Group by 21.0% during the 2nd 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 in the last quarter. Assenagon Asset Management S.A. bought a new position in shares of The Container Store Group during the 2nd quarter valued at $165,000. Jacobs Levy Equity Management Inc. acquired a new stake in shares of The Container Store Group in the 1st quarter valued at $490,000. Finally, Zazove Associates LLC boosted its holdings in The Container Store Group by 72.6% in 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 in the last quarter. Hedge funds and other institutional investors own 67.11% of the company’s stock.

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, 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.