Tapestry Inc (NYSE:TPR) – Research analysts at KeyCorp decreased their Q2 2020 earnings per share (EPS) estimates for shares of Tapestry in a note issued to investors on Tuesday, November 5th. KeyCorp analyst E. Yruma now anticipates that the luxury accessories retailer will post earnings of $0.97 per share for the quarter, down from their prior forecast of $1.08. KeyCorp currently has a “Overweight” rating and a $30.00 price objective on the stock. KeyCorp also issued estimates for Tapestry’s Q3 2020 earnings at $0.51 EPS, Q4 2020 earnings at $0.70 EPS and FY2021 earnings at $2.81 EPS.
A number of other equities research analysts have also recently weighed in on TPR. Cowen cut Tapestry from an “outperform” rating to a “market perform” rating and set a $22.00 price objective for the company. in a research note on Thursday, August 29th. Deutsche Bank set a $33.00 price objective on Tapestry and gave the company a “buy” rating in a research note on Friday, August 16th. MKM Partners reaffirmed a “neutral” rating and issued a $21.00 price objective (down from $52.00) on shares of Tapestry in a research note on Friday, August 16th. Piper Jaffray Companies cut Tapestry from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $40.00 to $23.00 in a research note on Friday, August 16th. Finally, Zacks Investment Research cut Tapestry from a “hold” rating to a “sell” rating and set a $28.00 target price for the company. in a research note on Monday, October 28th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and fifteen have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $33.13.
Shares of NYSE TPR traded up $0.16 during trading on Friday, reaching $27.23. The stock had a trading volume of 5,127,064 shares, compared to its average volume of 4,901,814. Tapestry has a fifty-two week low of $18.54 and a fifty-two week high of $42.75. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.94 and a current ratio of 1.82. The business’s 50-day moving average price is $25.75 and its 200-day moving average price is $27.74. The company has a market cap of $7.76 billion, a P/E ratio of 10.60, a PEG ratio of 1.14 and a beta of 1.02.
Tapestry (NYSE:TPR) last issued its quarterly earnings data on Tuesday, November 5th. The luxury accessories retailer reported $0.40 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.03. Tapestry had a return on equity of 21.17% and a net margin of 9.01%. The business had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.38 billion. During the same period in the previous year, the firm posted $0.48 earnings per share. The company’s revenue was down 1.7% on a year-over-year basis.
A number of hedge funds and other institutional investors have recently made changes to their positions in TPR. Prudential Financial Inc. lifted its holdings in Tapestry by 347.2% during the 2nd quarter. Prudential Financial Inc. now owns 4,946,057 shares of the luxury accessories retailer’s stock worth $156,938,000 after buying an additional 3,840,023 shares during the last quarter. Nuveen Asset Management LLC lifted its holdings in Tapestry by 39,001.1% during the 2nd quarter. Nuveen Asset Management LLC now owns 2,790,642 shares of the luxury accessories retailer’s stock worth $88,548,000 after buying an additional 2,783,505 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its holdings in Tapestry by 28.5% during the 2nd quarter. Caisse DE Depot ET Placement DU Quebec now owns 5,326,188 shares of the luxury accessories retailer’s stock worth $169,000,000 after buying an additional 1,182,774 shares during the last quarter. Holocene Advisors LP lifted its holdings in Tapestry by 1,872.8% during the 2nd quarter. Holocene Advisors LP now owns 979,960 shares of the luxury accessories retailer’s stock worth $31,094,000 after buying an additional 930,286 shares during the last quarter. Finally, Natixis lifted its holdings in Tapestry by 6,554.9% during the 2nd quarter. Natixis now owns 909,994 shares of the luxury accessories retailer’s stock worth $28,874,000 after buying an additional 896,320 shares during the last quarter. 88.23% 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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