Tapestry (TPR) Given New $46.00 Price Target at BMO Capital Markets

Tapestry (NYSE:TPR) had its target price boosted by research analysts at BMO Capital Markets to $46.00 in a report released on Wednesday, The Fly reports. The firm currently has a “market perform” rating on the luxury accessories retailer’s stock. BMO Capital Markets’ target price would suggest a potential downside of 8.13% from the company’s current price.

A number of other equities research analysts have also recently commented on TPR. William Blair reissued an “outperform” rating on shares of Tapestry in a research note on Tuesday. Robert W. Baird reissued a “buy” rating and issued a $55.00 price objective on shares of Tapestry in a research note on Wednesday. KeyCorp increased their price objective on shares of Tapestry from $53.00 to $59.00 and gave the company an “overweight” rating in a research note on Wednesday. Bank of America increased their price objective on shares of Tapestry from $47.00 to $50.00 and gave the company a “neutral” rating in a research note on Wednesday. Finally, ValuEngine raised shares of Tapestry from a “hold” rating to a “buy” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, eight have issued a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Tapestry has a consensus rating of “Buy” and an average price target of $49.81.

Shares of Tapestry (TPR) traded up $1.05 during midday trading on Wednesday, reaching $50.07. 2,489,518 shares of the company were exchanged, compared to its average volume of 2,521,232. The firm has a market cap of $12,788.35, a PE ratio of 31.25, a price-to-earnings-growth ratio of 1.67 and a beta of 0.59. Tapestry has a 12-month low of $36.69 and a 12-month high of $50.60. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.25 and a current ratio of 1.74.

Tapestry (NYSE:TPR) last issued its quarterly earnings data on Tuesday, February 6th. The luxury accessories retailer reported $1.07 EPS for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.19. The firm had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.77 billion. Tapestry had a net margin of 9.62% and a return on equity of 20.71%. The firm’s revenue was up 35.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.75 EPS. analysts predict that Tapestry will post 2.39 earnings per share for the current year.

Hedge funds have recently made changes to their positions in the company. Hexavest Inc. purchased a new position in shares of Tapestry during the 4th quarter worth about $106,000. Dupont Capital Management Corp purchased a new position in shares of Tapestry during the 4th quarter worth about $110,000. Cerebellum GP LLC purchased a new position in shares of Tapestry during the 4th quarter worth about $118,000. M&R Capital Management Inc. purchased a new position in shares of Tapestry during the 3rd quarter worth about $153,000. Finally, SeaCrest Wealth Management LLC purchased a new position in shares of Tapestry during the 4th quarter worth about $163,000. Institutional investors and hedge funds own 88.00% of the company’s stock.

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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.

The Fly

Analyst Recommendations for Tapestry (NYSE:TPR)

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