Why Container Store (TCS) Stock Is Plunging Today

NEW YORK (TheStreet) -- Shares of The Container Store (TCS) are plunging -13.19% to $23.50 in early trading as several firms cut their price target on Wednesday, following the retailer's first quarter results that missed analysts estimates.  

The Container Store also lowered full-year financial projections amid what it calls, "a retail funk" that hurt sales growth.

This morning, JPMorgan (JPM) cut its price target to $28 from $35, Credit Suisse (CS) lowered its price target to $32 from $45, and Barclays  (BCS) lowered its price target to $26.00 from $27.07.

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TCS Chart

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