Tapestry (NYSE:TPR) had its target price dropped by analysts at MKM Partners to $52.00 in a research note issued to investors on Monday, The Fly reports. MKM Partners’ price objective would suggest a potential upside of 49.77% from the company’s previous close.
A number of other brokerages also recently issued reports on TPR. Morgan Stanley upgraded Tapestry from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, October 17th. Loop Capital downgraded Tapestry from a “buy” rating to a “hold” rating and lowered their price target for the company from $59.00 to $45.00 in a report on Monday, October 15th. Buckingham Research lowered their price target on Tapestry from $62.00 to $53.00 and set a “buy” rating on the stock in a report on Wednesday, October 17th. Credit Suisse Group lowered their price target on Tapestry from $61.00 to $54.00 and set an “outperform” rating on the stock in a report on Wednesday, October 31st. Finally, Needham & Company LLC raised Tapestry from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a report on Tuesday, October 16th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty-two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $50.00.
Shares of Tapestry stock traded up $0.86 during trading hours on Monday, hitting $34.72. 337,459 shares of the company’s stock traded hands, compared to its average volume of 4,547,041. Tapestry has a 12-month low of $31.91 and a 12-month high of $55.50. The firm has a market cap of $9.82 billion, a PE ratio of 13.21, a P/E/G ratio of 1.20 and a beta of 0.76. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.62 and a quick ratio of 1.94.
Tapestry (NYSE:TPR) last announced its quarterly earnings data on Thursday, February 7th. The luxury accessories retailer reported $1.07 earnings per share for the quarter, missing the consensus estimate of $1.11 by ($0.04). Tapestry had a return on equity of 23.84% and a net margin of 12.18%. The firm had revenue of $1.80 billion during the quarter, compared to analysts’ expectations of $1.86 billion. During the same period last year, the business posted $1.07 EPS. The company’s revenue was up .9% compared to the same quarter last year. As a group, equities analysts anticipate that Tapestry will post 2.62 EPS for the current fiscal year.
Several institutional investors have recently added to or reduced their stakes in TPR. Oregon Public Employees Retirement Fund increased its position in Tapestry by 1,484.5% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,213,009 shares of the luxury accessories retailer’s stock valued at $36,000 after purchasing an additional 1,136,452 shares during the period. Pearl River Capital LLC acquired a new stake in Tapestry during the 4th quarter valued at approximately $66,000. Moody National Bank Trust Division increased its position in Tapestry by 21.2% during the 4th quarter. Moody National Bank Trust Division now owns 2,096 shares of the luxury accessories retailer’s stock valued at $70,000 after purchasing an additional 366 shares during the period. ETF Managers Group LLC increased its position in Tapestry by 18.0% during the 4th quarter. ETF Managers Group LLC now owns 2,523 shares of the luxury accessories retailer’s stock valued at $85,000 after purchasing an additional 384 shares during the period. Finally, Meeder Asset Management Inc. acquired a new stake in Tapestry during the 4th quarter valued at approximately $105,000. 89.62% of the stock is owned by institutional investors.
Tapestry, Inc provides luxury accessories and lifestyle brands in the United States, Japan, China, Hong Kong, Macau, East Asia, Europe, Canada, Taiwan, South Korea, Malaysia, and Singapore. It operates through three segments: Coach, Kate Spade, and Stuart Weitzman. The company offers handbags, wallets, money pieces, wristlets and cosmetic cases, key rings, and charms, as well as address books, time management accessories, travel accessories, sketchbooks, and portfolios for women; and business cases, computer bags, messenger-style bags, backpacks, totes, wallets, card cases, travel organizers, belts, footwear, watches, sunglasses, novelty accessories, and ready-to-wear for men.
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