Tapestry Inc (NYSE:TPR) – Research analysts at Jefferies Financial Group decreased their Q2 2020 earnings estimates for shares of Tapestry in a research report issued on Tuesday, November 5th. Jefferies Financial Group analyst R. Konik now anticipates that the luxury accessories retailer will post earnings of $1.00 per share for the quarter, down from their previous forecast of $1.04. Jefferies Financial Group also issued estimates for Tapestry’s Q4 2020 earnings at $0.70 EPS and FY2021 earnings at $2.75 EPS.
Other research analysts also recently issued research reports about the stock. Robert W. Baird set a $43.00 target price on shares of Tapestry and gave the stock a “buy” rating in a report on Monday, August 12th. HSBC downgraded shares of Tapestry from a “buy” rating to a “hold” rating and set a $27.00 target price for the company. in a report on Monday, October 28th. Bank of America set a $28.00 target price on shares of Tapestry and gave the stock a “buy” rating in a report on Wednesday, September 4th. Goldman Sachs Group downgraded shares of Tapestry from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $43.00 to $24.00 in a report on Friday, August 16th. Finally, UBS Group downgraded shares of Tapestry from a “buy” rating to a “neutral” rating and set a $25.00 target price for the company. in a report on Monday, October 14th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and fifteen have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $33.13.
Tapestry stock traded up $0.16 during mid-day trading on Friday, hitting $27.23. The stock had a trading volume of 5,127,064 shares, compared to its average volume of 4,901,814. The firm has a market capitalization of $7.76 billion, a P/E ratio of 10.60, a P/E/G ratio of 1.14 and a beta of 1.02. The company has a current ratio of 1.82, a quick ratio of 1.94 and a debt-to-equity ratio of 1.15. The firm’s 50 day moving average is $25.75 and its 200 day moving average is $27.74. Tapestry has a one year low of $18.54 and a one year high of $42.75.
Tapestry (NYSE:TPR) last issued its earnings results on Tuesday, November 5th. The luxury accessories retailer reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.03. The company had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.38 billion. Tapestry had a net margin of 9.01% and a return on equity of 21.17%. Tapestry’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.48 EPS.
Several institutional investors and hedge funds have recently added to or reduced their stakes in TPR. St. Johns Investment Management Company LLC bought a new position in shares of Tapestry during the 3rd quarter valued at about $26,000. Bourgeon Capital Management LLC bought a new position in shares of Tapestry during the 3rd quarter valued at about $26,000. NumerixS Investment Technologies Inc bought a new position in shares of Tapestry during the 2nd quarter valued at about $50,000. Avestar Capital LLC boosted its holdings in shares of Tapestry by 34.5% during the 2nd quarter. Avestar Capital LLC now owns 1,626 shares of the luxury accessories retailer’s stock valued at $51,000 after purchasing an additional 417 shares during the last quarter. Finally, CSat Investment Advisory L.P. lifted its holdings in shares of Tapestry by 106.7% in the 2nd quarter. CSat Investment Advisory L.P. now owns 1,827 shares of the luxury accessories retailer’s stock valued at $58,000 after acquiring an additional 943 shares during the last quarter. 88.23% of the stock is owned by institutional investors and hedge funds.
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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