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.