Zacks Investment Research Downgrades Tupperware Brands Corporation (TUP) to Hold
Tupperware Brands Corporation (NYSE:TUP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.
According to Zacks, “Tupperware Brands Corporation is a global direct seller of premium, innovative products across multiple brands and categories through an independent sales force. Product brands and categories include design-centric preparation, storage and serving solutions for the kitchen and home through the Tupperware brand and beauty and personal care products through its Avroy Shlain, BeautiControl, Fuller, NaturCare, Nutrimetics, Nuvo and Swissgarde brands. “
Several other research firms have also recently weighed in on TUP. ValuEngine cut shares of Tupperware Brands Corporation from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Citigroup Inc. upped their price target on shares of Tupperware Brands Corporation from $67.00 to $68.00 and gave the company a “neutral” rating in a report on Monday, October 2nd. BidaskClub cut shares of Tupperware Brands Corporation from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 13th. Finally, TheStreet cut shares of Tupperware Brands Corporation from a “b-” rating to a “c” rating in a report on Thursday, August 10th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $68.25.
Tupperware Brands Corporation (NYSE TUP) traded down 0.23% during trading on Thursday, reaching $61.70. 248,222 shares of the company were exchanged. The firm has a market cap of $3.14 billion, a price-to-earnings ratio of 19.95 and a beta of 1.64. Tupperware Brands Corporation has a 52-week low of $52.32 and a 52-week high of $74.36. The firm has a 50-day moving average of $59.74 and a 200-day moving average of $65.28.
Tupperware Brands Corporation (NYSE:TUP) last released its quarterly earnings results on Wednesday, July 26th. The company reported $1.21 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.20 by $0.01. The company had revenue of $572.90 million during the quarter, compared to analysts’ expectations of $580.19 million. Tupperware Brands Corporation had a net margin of 7.00% and a return on equity of 102.71%. The business’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.16 earnings per share. On average, equities analysts forecast that Tupperware Brands Corporation will post $4.70 EPS for the current year.
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In related news, EVP Thomas M. Roehlk sold 2,000 shares of the stock in a transaction on Friday, September 1st. The shares were sold at an average price of $58.54, for a total transaction of $117,080.00. Following the completion of the transaction, the executive vice president now owns 14,765 shares in the company, valued at $864,343.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 6,000 shares of company stock valued at $361,180 in the last 90 days. 3.22% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Intl Fcstone Inc. acquired a new position in Tupperware Brands Corporation during the second quarter worth $496,000. Dynamic Technology Lab Private Ltd acquired a new position in Tupperware Brands Corporation during the second quarter worth $321,000. Public Employees Retirement System of Ohio boosted its holdings in Tupperware Brands Corporation by 157.4% during the second quarter. Public Employees Retirement System of Ohio now owns 46,954 shares of the company’s stock worth $3,298,000 after purchasing an additional 28,715 shares during the last quarter. Verition Fund Management LLC acquired a new position in Tupperware Brands Corporation during the second quarter worth $459,000. Finally, Ameritas Investment Partners Inc. boosted its holdings in Tupperware Brands Corporation by 1.5% during the second quarter. Ameritas Investment Partners Inc. now owns 16,180 shares of the company’s stock worth $1,136,000 after purchasing an additional 244 shares during the last quarter. Institutional investors and hedge funds own 84.98% of the company’s stock.
Tupperware Brands Corporation Company Profile
Tupperware Brands Corporation is a global direct-to-consumer company. The Company operates through five segments in three geographic regions: Europe (Europe, Africa and the Middle East), Asia Pacific and the Americas. Its segments are Europe, Asia Pacific, Tupperware North America, Beauty North America and South America.
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