Tapestry Inc (NYSE:TPR) has earned a consensus rating of "Buy" from the twenty-six analysts that are presently covering the stock, MarketBeat.com reports. Ten research analysts have rated the stock with a hold recommendation and fifteen have given a buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $19.95.
A number of equities research analysts recently weighed in on the stock. BNP Paribas assumed coverage on shares of Tapestry in a report on Thursday, September 10th. They set an "outperform" rating and a $24.00 price target for the company. Credit Suisse Group raised their price target on shares of Tapestry from $15.00 to $17.00 and gave the company a "neutral" rating in a report on Friday, August 14th. Goldman Sachs Group raised shares of Tapestry from a "neutral" rating to a "buy" rating and raised their price target for the company from $16.00 to $18.00 in a report on Monday, July 27th. Deutsche Bank raised shares of Tapestry from a "hold" rating to a "buy" rating and set a $21.00 price target for the company in a report on Wednesday. Finally, Evercore ISI raised shares of Tapestry from an "in-line" rating to an "outperform" rating and set a $25.00 price target for the company in a report on Friday, August 14th.
Tapestry stock opened at $16.84 on Wednesday. Tapestry has a 52-week low of $10.18 and a 52-week high of $30.40. The firm has a fifty day moving average of $14.79 and a 200-day moving average of $14.73. The firm has a market capitalization of $4.65 billion, a P/E ratio of -7.14, a PEG ratio of 0.88 and a beta of 1.38. The company has a quick ratio of 1.04, a current ratio of 1.47 and a debt-to-equity ratio of 0.70.
Tapestry (NYSE:TPR) last released its quarterly earnings data on Thursday, August 13th. The luxury accessories retailer reported ($0.25) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.55) by $0.30. Tapestry had a negative net margin of 13.14% and a positive return on equity of 9.65%. During the same period last year, the company earned $0.61 earnings per share. On average, research analysts expect that Tapestry will post 1.84 EPS for the current fiscal year.
In related news, Director John P. Bilbrey purchased 12,980 shares of the company's stock in a transaction on Wednesday, August 19th. The shares were bought at an average cost of $15.27 per share, for a total transaction of $198,204.60. Following the transaction, the director now owns 33,756 shares of the company's stock, valued at $515,454.12. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.10% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently made changes to their positions in TPR. First Trust Advisors LP boosted its holdings in shares of Tapestry by 230.1% during the first quarter. First Trust Advisors LP now owns 157,578 shares of the luxury accessories retailer's stock worth $5,120,000 after purchasing an additional 109,837 shares during the period. Amundi Pioneer Asset Management Inc. lifted its stake in Tapestry by 14.4% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 469,591 shares of the luxury accessories retailer's stock valued at $15,257,000 after acquiring an additional 59,282 shares during the last quarter. Public Employees Retirement Association of Colorado lifted its stake in Tapestry by 1.9% in the first quarter. Public Employees Retirement Association of Colorado now owns 41,264 shares of the luxury accessories retailer's stock valued at $534,000 after acquiring an additional 776 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in Tapestry in the first quarter valued at approximately $159,000. Finally, Aperio Group LLC lifted its stake in Tapestry by 50.8% in the first quarter. Aperio Group LLC now owns 195,805 shares of the luxury accessories retailer's stock valued at $2,536,000 after acquiring an additional 65,931 shares during the last quarter. 87.55% of the stock is currently owned by institutional investors.
Tapestry Company Profile
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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