Tupperware Brands (NYSE:TUP) Coverage Initiated at DA Davidson

Research analysts at DA Davidson started coverage on shares of Tupperware Brands (NYSE:TUP) in a research note issued on Tuesday, Marketbeat Ratings reports. The brokerage set a “buy” rating and a $30.00 price target on the stock. DA Davidson’s target price suggests a potential upside of 14.11% from the stock’s current price.

TUP has been the subject of a number of other research reports. ValuEngine cut shares of Tupperware Brands from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 30th. Zacks Investment Research raised shares of Tupperware Brands from a “hold” rating to a “buy” rating and set a $4.25 target price for the company in a research report on Friday, May 29th. Argus raised shares of Tupperware Brands from a “sell” rating to a “hold” rating in a research report on Monday, August 17th. Sidoti increased their target price on shares of Tupperware Brands from $20.00 to $26.00 and gave the company a “buy” rating in a research report on Thursday, September 10th. Finally, Citigroup decreased their target price on shares of Tupperware Brands from $17.00 to $15.00 and set a “neutral” rating for the company in a research report on Thursday, August 13th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. Tupperware Brands has an average rating of “Hold” and an average price target of $18.81.

Shares of TUP opened at $26.29 on Tuesday. The company has a 50 day moving average price of $16.67 and a 200-day moving average price of $6.96. Tupperware Brands has a fifty-two week low of $1.15 and a fifty-two week high of $26.97. The stock has a market capitalization of $1.29 billion, a PE ratio of -154.64 and a beta of 3.62.

Tupperware Brands (NYSE:TUP) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.70. Tupperware Brands had a negative net margin of 0.49% and a negative return on equity of 9.52%. The firm had revenue of $397.40 million during the quarter, compared to analysts’ expectations of $312.55 million. During the same quarter in the prior year, the company earned $0.83 EPS. The company’s revenue was down 16.4% compared to the same quarter last year.

Several hedge funds and other institutional investors have recently bought and sold shares of TUP. Q Global Advisors LLC purchased a new position in shares of Tupperware Brands in the second quarter worth $7,125,000. Scepter Holdings Inc. purchased a new position in shares of Tupperware Brands in the second quarter worth $2,375,000. Morgan Stanley raised its holdings in shares of Tupperware Brands by 107.7% in the first quarter. Morgan Stanley now owns 832,107 shares of the company’s stock worth $1,347,000 after buying an additional 431,522 shares during the last quarter. Federated Hermes Inc. raised its holdings in shares of Tupperware Brands by 165.8% in the first quarter. Federated Hermes Inc. now owns 564,126 shares of the company’s stock worth $914,000 after buying an additional 351,891 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its holdings in shares of Tupperware Brands by 323.6% in the second quarter. Jacobs Levy Equity Management Inc. now owns 414,426 shares of the company’s stock worth $1,969,000 after buying an additional 316,594 shares during the last quarter. 74.67% of the stock is owned by institutional investors and hedge funds.

About Tupperware Brands

Tupperware Brands Corporation operates as a direct-to-consumer marketer of various products across a range of brands and categories in Europe, Africa, the Middle East, the Asia Pacific, North America, and South America. The company engages in the manufacture and sale of design-centric preparation, storage, and serving solutions for the kitchen and home, as well as a line of cookware, knives, microwave products, microfiber textiles, water-filtration related items, and an array of products for on-the-go consumers under the Tupperware brand name.

Further Reading: Are sell-side analysts objective?

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