Shares of Tapestry Inc (NYSE:TPR) have received a consensus recommendation of “Buy” from the thirty-two analysts that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and seventeen have given a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $37.45.
TPR has been the topic of several analyst reports. Canaccord Genuity reissued a “buy” rating and set a $41.00 target price on shares of Tapestry in a research report on Friday, May 10th. Credit Suisse Group downgraded Tapestry from an “outperform” rating to a “neutral” rating and cut their target price for the company from $38.00 to $22.00 in a research report on Thursday. Cowen reissued a “buy” rating and set a $22.00 target price (down previously from $34.00) on shares of Tapestry in a research report on Friday. Standpoint Research raised Tapestry from a “hold” rating to a “buy” rating in a research report on Thursday, May 9th. Finally, MKM Partners cut their target price on Tapestry from $34.00 to $22.00 and set a “market perform” rating on the stock in a research report on Friday.
In other Tapestry news, Director Darrell Cavens acquired 7,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The stock was bought at an average price of $30.01 per share, for a total transaction of $210,070.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Annabelle Yu Long sold 3,229 shares of the company’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $28.93, for a total value of $93,414.97. The disclosure for this sale can be found here. 0.70% of the stock is owned by insiders.
Hedge funds have recently modified their holdings of the business. Nelson Roberts Investment Advisors LLC purchased a new stake in shares of Tapestry in the 1st quarter worth $26,000. Avestar Capital LLC lifted its holdings in shares of Tapestry by 2,225.0% in the 1st quarter. Avestar Capital LLC now owns 1,209 shares of the luxury accessories retailer’s stock worth $39,000 after buying an additional 1,157 shares during the period. Quadrant Capital Group LLC lifted its holdings in shares of Tapestry by 1,079.0% in the 1st quarter. Quadrant Capital Group LLC now owns 1,403 shares of the luxury accessories retailer’s stock worth $44,000 after buying an additional 1,284 shares during the period. NumerixS Investment Technologies Inc purchased a new stake in shares of Tapestry in the 2nd quarter worth $50,000. Finally, CSat Investment Advisory L.P. lifted its holdings in shares of Tapestry by 106.7% in the 2nd quarter. CSat Investment Advisory L.P. now owns 1,827 shares of the luxury accessories retailer’s stock worth $58,000 after buying an additional 943 shares during the period. Institutional investors and hedge funds own 87.42% of the company’s stock.
NYSE:TPR traded up $0.51 during trading hours on Tuesday, reaching $19.96. The stock had a trading volume of 13,891,500 shares, compared to its average volume of 4,838,665. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.86 and a current ratio of 2.79. Tapestry has a 52 week low of $18.54 and a 52 week high of $52.49. The company has a 50 day moving average price of $29.33 and a two-hundred day moving average price of $31.72. The stock has a market capitalization of $5.64 billion, a PE ratio of 7.77, a PEG ratio of 0.64 and a beta of 0.88.
Tapestry (NYSE:TPR) last released its earnings results on Thursday, August 15th. The luxury accessories retailer reported $0.61 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.61. The firm had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.53 billion. Tapestry had a return on equity of 21.64% and a net margin of 10.68%. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.60 EPS. Equities research analysts predict that Tapestry will post 2.67 EPS for the current year.
Tapestry Company Profile
Tapestry, Inc provides luxury accessories and lifestyle brands in the United States, Japan, China, Hong Kong, Macau, East Asia, Europe, Canada, Taiwan, South Korea, Malaysia, and Singapore. It operates through three segments: Coach, Kate Spade, and Stuart Weitzman. The company offers handbags, wallets, money pieces, wristlets and cosmetic cases, key rings, and charms, as well as address books, time management accessories, travel accessories, sketchbooks, and portfolios for women; and business cases, computer bags, messenger-style bags, backpacks, totes, wallets, card cases, travel organizers, belts, footwear, watches, sunglasses, novelty accessories, and ready-to-wear for men.
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