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

Tandy Leather Factory (NASDAQ:TLF) posted its quarterly earnings results 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 net margin of 2.94% and a negative return on equity of 4.31%. The business had revenue of $18.04 million during the quarter, compared to the consensus estimate of $23.89 million.

Tandy Leather Factory Price Performance

NASDAQ:TLF remained flat at $2.42 during mid-day trading on Tuesday. The company had a trading volume of 2,267 shares, compared to its average volume of 39,754. The stock’s fifty day moving average price is $2.37 and its 200-day moving average price is $2.47. The stock has a market cap of $19.70 million, a PE ratio of -10.08 and a beta of 0.47. Tandy Leather Factory has a 1-year low of $2.20 and a 1-year high of $3.52.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Tandy Leather Factory

An institutional investor recently bought a new position in Tandy Leather Factory stock. NewEdge Advisors LLC acquired a new position in Tandy Leather Factory, Inc. (NASDAQ:TLF) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 12,573 shares of the textile maker’s stock, valued at approximately $39,000. NewEdge Advisors LLC owned approximately 0.15% of Tandy Leather Factory as of its most recent SEC filing. 56.41% of the stock is currently owned by hedge funds and other institutional investors.

About Tandy Leather Factory

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.