Tile Shop (TTS) Downgraded to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of Tile Shop (NASDAQ:TTS) from a hold rating to a sell rating in a research note issued to investors on Friday, Zacks.com reports.

According to Zacks, “Tile Shop Holdings, Inc. is the parent company of The Tile Shop. The Tile Shop is a specialty retailer of manufactured and natural stone tiles, setting and maintenance materials, and related accessories in the United States. It offers floor, wall, natural stone, ceramic, porcelain, glass, and metal tile products; tile patterns; basins; fixtures; listellos/borders; and profiles. Tile Shop Holdings, Inc. is based in Plymouth, Minnesota. “

Several other equities analysts also recently issued reports on TTS. ValuEngine downgraded shares of Tile Shop from a hold rating to a sell rating in a report on Friday, January 4th. Robert W. Baird restated a hold rating and set a $6.00 price objective on shares of Tile Shop in a report on Sunday, January 6th. BidaskClub upgraded shares of Tile Shop from a buy rating to a strong-buy rating in a report on Wednesday, January 16th. Telsey Advisory Group restated a market perform rating and set a $5.00 price objective (down previously from $7.50) on shares of Tile Shop in a report on Wednesday, May 1st. Finally, Citigroup downgraded shares of Tile Shop from a buy rating to a neutral rating and cut their price objective for the company from $9.00 to $5.50 in a report on Wednesday, May 1st. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. Tile Shop presently has an average rating of Hold and a consensus target price of $6.50.

Shares of Tile Shop stock opened at $4.74 on Friday. The stock has a market capitalization of $252.97 million, a price-to-earnings ratio of 23.70, a PEG ratio of 1.20 and a beta of 1.76. The company has a quick ratio of 0.40, a current ratio of 1.59 and a debt-to-equity ratio of 1.24. Tile Shop has a one year low of $4.44 and a one year high of $9.50.

Tile Shop (NASDAQ:TTS) last announced its earnings results on Tuesday, April 30th. The company reported $0.03 EPS for the quarter, missing the Zacks’ consensus estimate of $0.07 by ($0.04). Tile Shop had a return on equity of 5.19% and a net margin of 2.20%. The firm had revenue of $86.90 million during the quarter, compared to the consensus estimate of $93.31 million. During the same quarter in the prior year, the firm posted $0.08 earnings per share. The business’s revenue for the quarter was down 4.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Tile Shop will post 0.16 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Monday, May 6th will be issued a $0.05 dividend. The ex-dividend date is Friday, May 3rd. This represents a $0.20 annualized dividend and a yield of 4.22%. Tile Shop’s dividend payout ratio (DPR) is presently 100.00%.

In other Tile Shop news, Director Peter J. Jacullo III purchased 30,000 shares of the business’s stock in a transaction that occurred on Thursday, February 21st. The shares were bought at an average price of $6.28 per share, for a total transaction of $188,400.00. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. In the last quarter, insiders purchased 80,000 shares of company stock worth $487,400. 25.90% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of the stock. Principal Financial Group Inc. boosted its position in Tile Shop by 0.7% in the 4th quarter. Principal Financial Group Inc. now owns 316,970 shares of the company’s stock worth $1,737,000 after purchasing an additional 2,059 shares in the last quarter. Paloma Partners Management Co purchased a new stake in Tile Shop in the 4th quarter worth approximately $146,000. Morgan Stanley boosted its position in Tile Shop by 16.4% in the 3rd quarter. Morgan Stanley now owns 285,838 shares of the company’s stock worth $2,044,000 after purchasing an additional 40,372 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in Tile Shop in the 4th quarter worth approximately $801,000. Finally, Wedbush Securities Inc. boosted its position in Tile Shop by 3.9% in the 4th quarter. Wedbush Securities Inc. now owns 113,500 shares of the company’s stock worth $622,000 after purchasing an additional 4,250 shares in the last quarter. Institutional investors own 63.15% of the company’s stock.

About Tile Shop

Tile Shop Holdings, Inc operates as a specialty retailer of natural stone and man-made tiles, setting and maintenance materials, and related accessories in the United States. It offers approximately 6,000 products, including marble, travertine, granite, quartz, sandstone, slate, and onyx tiles; and ceramic, porcelain, glass, cement, wood look, and metal tiles primarily under the Rush River and Fired Earth brands.

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