Tapestry (NYSE:TPR) Given a $58.00 Price Target by Canaccord Genuity Analysts

Tapestry (NYSE:TPR) received a $58.00 price objective from Canaccord Genuity in a research report issued on Sunday, January 7th. The firm presently has a “buy” rating on the luxury accessories retailer’s stock. Canaccord Genuity’s price objective points to a potential upside of 23.51% from the stock’s current price.

TPR has been the topic of a number of other research reports. KeyCorp set a $53.00 price objective on Tapestry and gave the stock a “buy” rating in a research note on Wednesday, October 11th. Wolfe Research lowered Tapestry from an “outperform” rating to a “peer perform” rating and lowered their price objective for the stock from $51.00 to $42.00 in a research note on Tuesday, October 3rd. Needham & Company LLC began coverage on Tapestry in a research note on Monday, December 18th. They issued a “hold” rating on the stock. UBS Group decreased their price target on Tapestry from $50.00 to $48.00 and set a “buy” rating on the stock in a research note on Wednesday, November 8th. Finally, Zacks Investment Research downgraded Tapestry from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 17th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $48.63.

Tapestry (NYSE:TPR) opened at $46.96 on Friday. Tapestry has a fifty-two week low of $36.51 and a fifty-two week 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. The stock has a market capitalization of $13,350.00, a PE ratio of 29.17, a P/E/G ratio of 1.78 and a beta of 0.46.

Tapestry (NYSE:TPR) last released its quarterly earnings data on Tuesday, November 7th. The luxury accessories retailer reported $0.42 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.06. The company had revenue of $1.29 billion during 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 business’s revenue was up 24.2% on a year-over-year basis. During the same period last year, the firm posted $0.45 earnings per share. analysts anticipate that Tapestry will post 2.39 EPS for the current year.

A number of institutional investors have recently bought and sold shares of TPR. Point View Wealth Management Inc. purchased a new position in Tapestry in the third quarter valued at approximately $552,000. LMR Partners LLP purchased a new position in Tapestry in the third quarter valued at approximately $229,000. M&R Capital Management Inc. purchased a new position in Tapestry in the third quarter valued at approximately $153,000. Capital International Investors purchased a new position in Tapestry in the third quarter valued at approximately $25,376,000. Finally, Afam Capital Inc. purchased a new position in Tapestry in the third quarter valued at approximately $6,945,000. Institutional investors and hedge funds own 88.75% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: “Tapestry (NYSE:TPR) Given a $58.00 Price Target by Canaccord Genuity Analysts” was first posted by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are viewing this article on another website, it was copied illegally and reposted in violation of United States and international copyright laws. The correct version of this article can be accessed at https://www.dispatchtribunal.com/2018/02/02/canaccord-genuity-analysts-give-tapestry-tpr-a-58-00-price-target.html.

About Tapestry

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.

Analyst Recommendations for Tapestry (NYSE:TPR)

Receive News & Ratings for Tapestry Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tapestry and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply