In a report released today, Jeff Van Sinderen from B.Riley FBR maintained a Hold rating on Tuesday Morning (TUES), with a price target of $2.20. The company’s shares closed yesterday at $1.80, close to its 52-week low of $1.67.
Van Sinderen noted:
“Tuesday Morning (TUES) reported 3Q19 BMO on 5/7. Sales/comps came in below, as a slower environment for home goods, reduced green card events and the Easter shift impacted sales versus the highest quarterly comp of FY18. There was one ad/green card event vs. three events in 3Q18 and the event this year was smaller than the same event LY . The company estimated that the ad reductions and Easter shift impacted 3Q comps by 350 bps. Unfavorable weather also had an impact on more seasonal-oriented merchandise. Relo stores comped +42%. GM improved 30 bps after freight costs impacted GM to some extent, but came in below our estimate (we are consensus). SG&A deleveraged 50 bps but was below our estimate. As a result, EBITDA came in above our recently lowered estimates.”
According to TipRanks.com, Sinderen has currently no stars on a ranking scale of 0-5 stars, with an average return of -3.1% and a 42.9% success rate. Sinderen covers the Consumer Goods sector, focusing on stocks such as Universal Electronics, Celsius Holdings Inc, and Chromadex Corp.
Currently, the analyst consensus on Tuesday Morning is a Hold with an average price target of $2.40.
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The company has a one-year high of $3.55 and a one-year low of $1.67. Currently, Tuesday Morning has an average volume of 367.4K.
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Tuesday Morning Corp. engages in the sale of upscale decorative home and lifestyle goods. Its portfolio of products includes bath and body, bed, craft supplies, dinning and kitchen, furniture, gifts and more, gourmet food, holiday and party, home decors, luggage, outdoor, pets, small appliances, and toys.
