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.
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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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