Equities researchers at Needham & Company LLC started coverage on shares of Tapestry (NYSE:TPR) in a research note issued to investors on Monday, December 18th, MarketBeat reports. The firm set a “hold” rating on the luxury accessories retailer’s stock.
Other equities analysts have also recently issued research reports about the company. Robert W. Baird set a $49.00 target price on Tapestry and gave the stock a “buy” rating in a report on Tuesday, October 17th. Wolfe Research cut Tapestry from an “outperform” rating to a “peer perform” rating and lowered their target price for the stock from $51.00 to $42.00 in a report on Tuesday, October 3rd. Jefferies Group restated a “hold” rating and set a $42.00 price objective on shares of Tapestry in a research note on Saturday, September 16th. Vetr downgraded shares of Tapestry from a “strong-buy” rating to a “buy” rating and set a $45.90 price objective for the company. in a research note on Wednesday, September 13th. Finally, Sanford C. Bernstein began coverage on shares of Tapestry in a research note on Tuesday, September 12th. They set an “outperform” rating and a $51.00 price objective for the company. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $47.92.
Shares of Tapestry (TPR) traded up $0.28 during trading on Monday, hitting $45.52. 1,420,000 shares of the company’s stock traded hands, compared to its average volume of 2,450,000. The company has a market cap of $12,940.00, a PE ratio of 28.27, a price-to-earnings-growth ratio of 1.70 and a beta of 0.46. Tapestry has a 52 week low of $34.33 and a 52 week high of $48.85. The company has a quick ratio of 1.25, a current ratio of 1.74 and a debt-to-equity ratio of 0.64.
Tapestry (NYSE:TPR) last released its quarterly earnings data on Tuesday, November 7th. The luxury accessories retailer reported $0.42 EPS for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.06. Tapestry had a net margin of 9.62% and a return on equity of 20.71%. The business had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter in the prior year, the company earned $0.45 EPS. The firm’s quarterly revenue was up 24.2% on a year-over-year basis. research analysts forecast that Tapestry will post 2.37 earnings per share for the current fiscal year.
A number of institutional investors have recently modified their holdings of the business. M&R Capital Management Inc. acquired a new stake in Tapestry in the third quarter valued at approximately $153,000. LMR Partners LLP acquired a new position in shares of Tapestry during the third quarter worth $229,000. Oak Point Wealth Management acquired a new position in shares of Tapestry during the fourth quarter worth $469,000. Point View Wealth Management Inc. acquired a new position in shares of Tapestry during the third quarter worth $552,000. Finally, Hefty Wealth Partners acquired a new position in shares of Tapestry during the fourth quarter worth $932,000. Hedge funds and other institutional investors own 87.63% of the company’s stock.
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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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