Tapestry, Inc. (NYSE:TPR) – Stock analysts at William Blair raised their Q1 2019 earnings per share estimates for Tapestry in a report released on Wednesday. William Blair analyst D. Carden now forecasts that the luxury accessories retailer will post earnings per share of $0.60 for the quarter, up from their previous forecast of $0.44. William Blair has a “Buy” rating on the stock.
Several other analysts have also weighed in on TPR. OTR Global raised Tapestry to a “positive” rating in a research note on Friday, July 21st. Vetr lowered Tapestry from a “hold” rating to a “sell” rating and set a $45.98 price target on the stock. in a research note on Monday, July 24th. Jefferies Group LLC downgraded Tapestry from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $53.00 to $45.00 in a research report on Monday, July 31st. BMO Capital Markets set a $42.00 target price on Tapestry and gave the stock a “hold” rating in a report on Tuesday, August 8th. Finally, UBS AG reiterated a “buy” rating and issued a $50.00 target price (down from $55.00) on shares of Tapestry in a report on Friday, August 11th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty-three have given a buy rating to the stock. Tapestry currently has an average rating of “Buy” and a consensus price target of $47.70.
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Shares of Tapestry (NYSE TPR) opened at $40.82 on Monday. The stock has a market capitalization of $11,608.20, a price-to-earnings ratio of 19.16, a PEG ratio of 1.56 and a beta of 0.45. Tapestry has a 1-year low of $34.16 and a 1-year high of $48.85. The company has a current ratio of 1.74, a quick ratio of 1.25 and a debt-to-equity ratio of 0.64.
Tapestry (NYSE:TPR) last posted its quarterly earnings results on Tuesday, November 7th. The luxury accessories retailer reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.06. The business had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.31 billion. Tapestry had a return on equity of 20.71% and a net margin of 9.62%. The firm’s revenue for the quarter was up 24.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.45 EPS.
An institutional investor recently bought a new position in Tapestry stock. Point View Wealth Management Inc. purchased a new position in shares of Tapestry, Inc. (NYSE:TPR) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 13,699 shares of the luxury accessories retailer’s stock, valued at approximately $552,000. 87.81% of the stock is owned by institutional investors and hedge funds.
In other news, CAO Todd Kahn sold 4,586 shares of the stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $40.85, for a total transaction of $187,338.10. Following the sale, the chief accounting officer now directly owns 72,412 shares of the company’s stock, valued at approximately $2,958,030.20. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Melinda Brown sold 8,250 shares of the stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $41.28, for a total transaction of $340,560.00. Following the sale, the senior vice president now directly owns 42,884 shares in the company, valued at $1,770,251.52. The disclosure for this sale can be found here. Corporate insiders own 0.98% of the company’s stock.
Tapestry Company Profile
Tapestry, Inc, formerly Coach, Inc, is a design house of luxury accessories and lifestyle collections. The Company’s product offering uses a range of leathers, fabrics and materials. The Company’s brands include Coach, Kate Spade, and Stuart Weitzman. Its segments include North America, International and Stuart Weitzman.
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