Zacks Investment Research Downgrades Tailored Brands Inc (TLRD) to Hold
Tailored Brands Inc (NASDAQ:TLRD) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued on Wednesday.
According to Zacks, “Tailored Brands, Inc. is a specialty retailer of men’s suits and provider of tuxedo rental product primarily in the U.S. and Canada. The Company provide suit separates, port coats, slacks, sportswear, outerwear, dress shirts, shoes and accessories. Tailored Brands, Inc., formerly known as The Mens Wearhouse, Inc is based in Houston, Texas. “
TLRD has been the subject of several other research reports. FBR & Co reissued a “buy” rating and issued a $16.00 price target on shares of Tailored Brands in a research report on Tuesday, September 5th. ValuEngine lowered shares of Tailored Brands from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Jefferies Group LLC reissued a “hold” rating and issued a $14.00 price target on shares of Tailored Brands in a research report on Tuesday, June 6th. Cowen and Company dropped their price target on shares of Tailored Brands from $23.00 to $12.00 and set a “market perform” rating for the company in a research report on Friday, June 9th. Finally, Wunderlich set a $24.00 price target on shares of Tailored Brands and gave the stock a “buy” rating in a research report on Thursday, June 8th. Six analysts have rated the stock with a hold rating and four have given a buy rating to the company. Tailored Brands presently has a consensus rating of “Hold” and an average target price of $16.86.
Tailored Brands (NASDAQ TLRD) opened at 13.36 on Wednesday. The company has a market capitalization of $657.25 million and a price-to-earnings ratio of 11.18. Tailored Brands has a 12-month low of $9.40 and a 12-month high of $28.76. The stock’s 50 day moving average price is $12.04 and its 200 day moving average price is $12.78.
Tailored Brands (NASDAQ:TLRD) last posted its quarterly earnings results on Thursday, September 7th. The company reported $1.14 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.26. The business had revenue of $851.00 million during the quarter, compared to analyst estimates of $868.22 million. During the same period last year, the company earned $0.99 EPS. The business’s revenue for the quarter was down 6.5% on a year-over-year basis. On average, equities research analysts anticipate that Tailored Brands will post $1.83 earnings per share for the current fiscal year.
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In other news, CFO Jack Calandra acquired 10,000 shares of the company’s stock in a transaction dated Wednesday, June 21st. The stock was bought at an average price of $9.50 per share, with a total value of $95,000.00. Following the completion of the acquisition, the chief financial officer now owns 31,026 shares in the company, valued at approximately $294,747. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Dinesh S. Lathi sold 3,200 shares of the firm’s stock in a transaction that occurred on Thursday, June 29th. The stock was sold at an average price of $10.86, for a total transaction of $34,752.00. Following the sale, the director now directly owns 22,757 shares of the company’s stock, valued at approximately $247,141.02. The disclosure for this sale can be found here.
Several hedge funds and other institutional investors have recently bought and sold shares of TLRD. State of Alaska Department of Revenue increased its holdings in shares of Tailored Brands by 80.0% during the second quarter. State of Alaska Department of Revenue now owns 9,683 shares of the company’s stock worth $108,000 after buying an additional 4,303 shares in the last quarter. Financial Engines Advisors L.L.C. increased its holdings in shares of Tailored Brands by 192,760.0% during the second quarter. Financial Engines Advisors L.L.C. now owns 9,643 shares of the company’s stock worth $108,000 after buying an additional 9,638 shares in the last quarter. Piedmont Investment Advisors LLC acquired a new stake in shares of Tailored Brands during the second quarter worth approximately $118,000. Municipal Employees Retirement System of Michigan increased its holdings in shares of Tailored Brands by 4.0% during the second quarter. Municipal Employees Retirement System of Michigan now owns 11,590 shares of the company’s stock worth $129,000 after buying an additional 450 shares in the last quarter. Finally, GSA Capital Partners LLP increased its holdings in shares of Tailored Brands by 19.3% during the second quarter. GSA Capital Partners LLP now owns 12,700 shares of the company’s stock worth $142,000 after buying an additional 2,053 shares in the last quarter.
About Tailored Brands
Tailored Brands, Inc is a holding company of The Men’s Wearhouse, Inc The Company is a specialty apparel retailer offering suits, suit separates, sport coats, slacks, business casual, sportswear, outerwear, dress shirts, shoes and accessories for men and tuxedo and suit rental product. It operates through two segments: Retail and Corporate Apparel.
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