Credit Suisse Thinks Container Store Group’s Stock is Going to Recover

By Austin Angelo

Credit Suisse analyst Seth Sigman reiterated a Buy rating on Container Store Group (NYSE: TCS) today and set a price target of $7. The company’s shares opened today at $5.10, close to its 52-week low of $3.77.

According to TipRanks.com, Sigman is a 1-star analyst with an average return of -0.7% and a 40.0% success rate. Sigman covers the Services sector, focusing on stocks such as Cinemark Holdings Inc, Dick’s Sporting Goods, and Big 5 Sporting Goods.

Container Store Group has an analyst consensus of Moderate Buy.

The company has a one year high of $11.93 and a one year low of $3.77. Currently, Container Store Group has an average volume of 166.9K.

Based on the recent corporate insider activity of 7 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of TCS in relation to earlier this year. Most recently, in August 2016, Caryl Stern, a Director at TCS bought 2,750 shares for a total of $15,015.

The Container Store Group, Inc. is a holding company, which engages in the retail of storage products for home and office. It provides creative, multifunctional, customizable storage, and organization solutions that helps its customers to save time and space. The company operates through two segments: The Container Store and Elfa. The Container Store segment operates as a subsidiary company which consists of retail stores, website and call center. The Elfa segment designs and manufactures component-based shelving and drawer systems that are customizable for any area of the home, including closets, kitchens, offices and garages. The Container Store Group was founded on June 29, 2007 and is headquartered in Coppell, TX.