NEW YORK (TheStreet) -- Tupperware Brands (TUP) - Get Report stock is retreating by 4.74% to $49.25 in afternoon trading on Wednesday, after the Tupperware manufacturer missed its 10-K filing deadline.
Tupperware Brands has yet to complete its assessment of control deficiencies related to the information technology system used in its financial reporting, according to an SEC filing, MarketWatch reports.
"Although the company has not concluded its assessment of the effectiveness of its internal control over financial reporting, the company believes that these deficiencies could represent a material weakness in its internal control over financial reporting," according to the filing.
The company hopes to file the annual report and related documents within its 15-day extension period.
Separately, TheStreet Ratings team rates the stock as a "hold" with a ratings score of C+.
Tupperware's strengths such as its expanding profit margins and notable return on equity are countered by weaknesses including deteriorating net income, generally higher debt management risk and weak operating cash flow.
You can view the full analysis from the report here: TUP
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.