Tandy Leather Factory (NASDAQ:TLF) Posts Quarterly Earnings Results, Misses Expectations By $0.06 EPS

Tandy Leather Factory (NASDAQ:TLF) released its quarterly earnings data on Tuesday. The textile maker reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.06), FiscalAI reports. Tandy Leather Factory had a negative return on equity of 4.31% and a negative net margin of 2.94%.The business had revenue of $18.04 million during the quarter, compared to analyst estimates of $23.89 million.

Tandy Leather Factory Price Performance

Shares of NASDAQ:TLF opened at $2.42 on Wednesday. The business’s 50 day moving average price is $2.37 and its 200-day moving average price is $2.47. Tandy Leather Factory has a 1 year low of $2.20 and a 1 year high of $3.52. The firm has a market capitalization of $19.70 million, a price-to-earnings ratio of -10.08 and a beta of 0.47.

Institutional Investors Weigh In On Tandy Leather Factory

A hedge fund recently bought a new position in Tandy Leather Factory stock. NewEdge Advisors LLC acquired a new stake in Tandy Leather Factory, Inc. (NASDAQ:TLF) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 12,573 shares of the textile maker’s stock, valued at approximately $39,000. NewEdge Advisors LLC owned about 0.15% of Tandy Leather Factory at the end of the most recent quarter. Institutional investors own 56.41% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings lowered shares of Tandy Leather Factory from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, June 4th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has an average rating of “Sell”.

Tandy Leather Factory Company Profile

Tandy Leather Factory, Inc engages in the distribution of leather and related products. It offers leather, leatherworking tools, buckles and adornments for belts, leather dyes and finishes, saddle and tack hardware, and do-it-yourself kits. It operates through North America and International geographical segments. The North America geographical segment consists of 115 stores, which offer a broad selection of products combined with leathercraft expertise in a one-stop shop. The International geographical segment comprises of similar to North America segment but generally located in light industrial areas.