Tumi Holdings Rating Lowered to Underperform at Zacks (TUMI)
Tumi Holdings (NASDAQ:TUMI) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a note issued to investors on Thursday. They currently have a $19.20 price target on the stock. Zacks‘s target price points to a potential downside of 4.90% from the company’s current price.
Tumi Holdings (NASDAQ:TUMI) traded down 0.20% on Thursday, hitting $20.15. 104,856 shares of the company’s stock traded hands. Tumi Holdings has a 1-year low of $17.55 and a 1-year high of $26.24. The stock’s 50-day moving average is $19.20 and its 200-day moving average is $21.17. The company has a market cap of $1.367 billion and a P/E ratio of 26.57.
Tumi Holdings (NASDAQ:TUMI) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.12 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.17 by $0.05. The company had revenue of $108.60 million for the quarter, compared to the consensus estimate of $115.80 million. During the same quarter last year, the company posted $0.16 earnings per share. Tumi Holdings’s revenue was up 5.5% compared to the same quarter last year. On average, analysts predict that Tumi Holdings will post $0.90 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Stephens upgraded shares of Tumi Holdings from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, June 10th. They now have a $25.00 price target on the stock, up previously from $22.00. Separately, analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Tumi Holdings in a research note on Monday, May 12th. They now have a $21.00 price target on the stock, down previously from $24.00. Finally, analysts at Jefferies Group cut their price target on shares of Tumi Holdings from $28.00 to $26.00 in a research note on Friday, May 9th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company. Tumi Holdings currently has a consensus rating of “Buy” and an average target price of $24.20.
Tumi Holdings, Inc (NASDAQ:TUMI) offers a range of travel and business products and accessories in various categories.
To view Zacks’ full report, visit Zacks’ official website.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.