Tapestry (NYSE:TPR) has been given a $60.00 price objective by investment analysts at Piper Jaffray Companies in a research note issued on Thursday. The firm presently has a “buy” rating on the luxury accessories retailer’s stock. Piper Jaffray Companies’ target price would indicate a potential upside of 13.27% from the company’s current price.
Other equities analysts have also recently issued reports about the company. TheStreet upgraded Tapestry from a “c+” rating to a “b” rating in a report on Tuesday, February 6th. Zacks Investment Research upgraded Tapestry from a “hold” rating to a “buy” rating and set a $51.00 target price for the company in a report on Monday, January 8th. Canaccord Genuity set a $58.00 target price on Tapestry and gave the company a “buy” rating in a report on Sunday, January 7th. Robert W. Baird set a $50.00 target price on Tapestry and gave the company a “buy” rating in a report on Friday, December 22nd. Finally, Cowen restated a “buy” rating and set a $54.00 target price on shares of Tapestry in a report on Wednesday, January 31st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $51.74.
Shares of Tapestry stock opened at $52.97 on Thursday. The stock has a market capitalization of $15,150.04, a price-to-earnings ratio of 21.71, a price-to-earnings-growth ratio of 1.83 and a beta of 0.48. The company has a quick ratio of 1.51, a current ratio of 1.90 and a debt-to-equity ratio of 0.64. Tapestry has a 52 week low of $37.92 and a 52 week high of $53.51.
Tapestry (NYSE:TPR) last released its quarterly earnings results on Tuesday, February 6th. The luxury accessories retailer reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.21. The business had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.77 billion. Tapestry had a return on equity of 23.68% and a net margin of 6.14%. The company’s revenue was up 35.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.75 EPS. sell-side analysts anticipate that Tapestry will post 2.58 earnings per share for the current fiscal year.
In other Tapestry news, Director Susan J. Kropf sold 6,185 shares of Tapestry stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $50.80, for a total transaction of $314,198.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Sarah Dunn sold 6,229 shares of Tapestry stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $48.23, for a total value of $300,424.67. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 140,551 shares of company stock worth $7,020,158. 0.98% of the stock is currently owned by corporate insiders.
Hedge funds have recently made changes to their positions in the business. Hexavest Inc. purchased a new position in shares of Tapestry in the 4th quarter valued at approximately $106,000. First Dallas Securities Inc. purchased a new position in shares of Tapestry in the 4th quarter valued at approximately $108,000. Dupont Capital Management Corp purchased a new position in shares of Tapestry in the 4th quarter valued at approximately $110,000. Cerebellum GP LLC purchased a new position in shares of Tapestry in the 4th quarter valued at approximately $118,000. Finally, American Research & Management Co. purchased a new position in shares of Tapestry in the 4th quarter valued at approximately $129,000. Institutional investors own 89.37% 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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