Tile Shop Holdings Inc. (TTS) Announces Quarterly Earnings Results, Beats Estimates By $0.02 EPS
Tile Shop Holdings Inc. (NASDAQ:TTS) announced its quarterly earnings results on Tuesday. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.02. The company earned $78.60 million during the quarter, compared to analysts’ expectations of $78.59 million. Tile Shop Holdings had a return on equity of 18.43% and a net margin of 6.75%.
Shares of Tile Shop Holdings (NASDAQ:TTS) opened at 16.75 on Tuesday. Tile Shop Holdings has a 12 month low of $12.40 and a 12 month high of $21.05. The stock has a market capitalization of $862.91 million, a PE ratio of 40.85 and a beta of 2.07. The company’s 50 day moving average price is $16.16 and its 200 day moving average price is $17.37.
A number of analysts have recently commented on TTS shares. Zacks Investment Research cut Tile Shop Holdings from a “buy” rating to a “hold” rating in a research report on Wednesday, June 22nd. Citigroup Inc. cut their price objective on Tile Shop Holdings from $20.00 to $19.00 and set a “neutral” rating for the company in a research report on Tuesday, August 23rd. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $19.50.
In other Tile Shop Holdings news, Director Todd Krasnow sold 10,000 shares of the stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $17.14, for a total transaction of $171,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert A. Rucker sold 50,000 shares of the stock in a transaction that occurred on Thursday, October 6th. The stock was sold at an average price of $17.04, for a total value of $852,000.00. The disclosure for this sale can be found here. 26.10% of the stock is owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of TTS. Rational Advisors LLC bought a new stake in Tile Shop Holdings during the second quarter worth $153,000. BlackRock Inc. boosted its stake in Tile Shop Holdings by 654.8% in the second quarter. BlackRock Inc. now owns 12,537 shares of the company’s stock valued at $249,000 after buying an additional 10,876 shares in the last quarter. Picton Mahoney Asset Management acquired a new stake in Tile Shop Holdings during the second quarter valued at approximately $249,000. Summit Securities Group LLC acquired a new stake in Tile Shop Holdings during the second quarter valued at approximately $267,000. Finally, BlackRock Advisors LLC boosted its stake in Tile Shop Holdings by 17.2% in the second quarter. BlackRock Advisors LLC now owns 15,568 shares of the company’s stock valued at $309,000 after buying an additional 2,282 shares in the last quarter. 64.27% of the stock is owned by institutional investors.
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