ValuEngine Downgrades Tandy Leather Factory, Inc. (NASDAQ:TLF) to Hold

ValuEngine lowered shares of Tandy Leather Factory, Inc. (NASDAQ:TLF) from a buy rating to a hold rating in a report released on Friday, August 4th.

Tandy Leather Factory (NASDAQ:TLF) traded up 1.19% during midday trading on Friday, hitting $8.50. The stock had a trading volume of 5,520 shares. The stock has a market capitalization of $78.80 million, a PE ratio of 14.71 and a beta of 1.01. Tandy Leather Factory has a 1-year low of $6.85 and a 1-year high of $9.05. The stock’s 50-day moving average is $8.71 and its 200-day moving average is $8.31.

Tandy Leather Factory (NASDAQ:TLF) last announced its quarterly earnings results on Wednesday, August 2nd. The textile maker reported $0.11 earnings per share (EPS) for the quarter. Tandy Leather Factory had a return on equity of 9.76% and a net margin of 6.47%. The business had revenue of $19.28 million during the quarter. On average, equities research analysts anticipate that Tandy Leather Factory will post $0.81 EPS for the current fiscal year.

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In other Tandy Leather Factory news, Director Joseph R. Mannes sold 15,000 shares of the company’s stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $8.75, for a total value of $131,250.00. Following the completion of the transaction, the director now owns 40,265 shares in the company, valued at approximately $352,318.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James C. Pappas acquired 6,824 shares of Tandy Leather Factory stock in a transaction on Thursday, June 1st. The stock was acquired at an average price of $8.43 per share, with a total value of $57,526.32. Following the purchase, the director now directly owns 1,801 shares in the company, valued at $15,182.43. The disclosure for this purchase can be found here. Corporate insiders own 37.19% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. LSV Asset Management increased its position in shares of Tandy Leather Factory by 19.6% in the second quarter. LSV Asset Management now owns 26,200 shares of the textile maker’s stock worth $233,000 after buying an additional 4,300 shares during the period. Russell Investments Group Ltd. increased its position in shares of Tandy Leather Factory by 4.5% in the second quarter. Russell Investments Group Ltd. now owns 49,079 shares of the textile maker’s stock worth $437,000 after buying an additional 2,115 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of Tandy Leather Factory by 0.8% in the second quarter. Dimensional Fund Advisors LP now owns 495,101 shares of the textile maker’s stock worth $4,406,000 after buying an additional 3,927 shares during the period. Hedge funds and other institutional investors own 51.74% of the company’s stock.

Tandy Leather Factory Company Profile

Tandy Leather Factory, Inc is a retailer and a wholesale distributor of a range of leather and related products. The Company’s products include leather, leatherworking tools, buckles and adornments for belts, leather dyes and finishes, saddle and tack hardware, and do-it-yourself kits. The Company also manufactures leather lacing and some of its do-it-yourself kits.

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