Needham & Company LLC began coverage on shares of Tapestry (NYSE:TPR) in a research note issued on Monday, December 18th, Marketbeat.com reports. The brokerage set a “hold” rating on the luxury accessories retailer’s stock.
A number of other analysts have also issued reports on the company. Buckingham Research set a $48.00 target price on Tapestry and gave the company a “buy” rating in a report on Friday, October 6th. TheStreet lowered Tapestry from a “b” rating to a “c+” rating in a report on Tuesday, November 7th. Cowen reiterated a “buy” rating and issued a $46.00 price objective on shares of Tapestry in a research report on Thursday, September 28th. Susquehanna Bancshares started coverage on Tapestry in a research report on Thursday, November 2nd. They issued a “positive” rating and a $50.00 price objective for the company. Finally, Robert W. Baird set a $49.00 price objective on Tapestry and gave the stock a “buy” rating in a research report on Tuesday, October 17th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $47.92.
Tapestry (NYSE TPR) traded up $0.25 on Monday, hitting $45.78. The stock had a trading volume of 2,330,000 shares, compared to its average volume of 2,360,000. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.74 and a quick ratio of 1.25. The stock has a market cap of $13,020.00, a P/E ratio of 28.43, a PEG 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.
Tapestry (NYSE:TPR) last issued 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. The business had revenue of $1.29 billion for the quarter, compared to analyst estimates 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 firm posted $0.45 EPS. equities analysts forecast that Tapestry will post 2.37 earnings per share for the current year.
Several institutional investors have recently made changes to their positions in TPR. Hexavest Inc. acquired a new stake in shares of Tapestry during the fourth quarter worth $106,000. M&R Capital Management Inc. acquired a new stake in shares of Tapestry during the third quarter worth $153,000. LMR Partners LLP acquired a new stake in shares of Tapestry during the third quarter worth $229,000. Oak Point Wealth Management acquired a new stake in shares of Tapestry during the fourth quarter worth $469,000. Finally, Point View Wealth Management Inc. acquired a new stake in shares of Tapestry during the third quarter worth $552,000. 87.63% of the stock is owned by institutional investors and hedge funds.
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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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