Tapestry (NYSE:TPR) has been assigned a $41.00 price objective by stock analysts at Barclays in a research note issued to investors on Saturday. The brokerage presently has a “buy” rating on the luxury accessories retailer’s stock. Barclays‘s price target indicates a potential upside of 21.09% from the company’s current price.
Several other analysts have also recently commented on the company. Macquarie initiated coverage on Tapestry in a research report on Monday, November 12th. They issued a “neutral” rating and a $49.00 target price for the company. Needham & Company LLC raised Tapestry from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a research report on Tuesday, October 16th. They noted that the move was a valuation call. Wells Fargo & Co dropped their price objective on Tapestry from $58.00 to $45.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 2nd. Citigroup lowered their price target on Tapestry from $55.00 to $45.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 31st. Finally, Evercore ISI lowered Tapestry to a “hold” rating in a research note on Monday, October 15th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-two have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $49.93.
Shares of NYSE TPR opened at $33.86 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.94 and a current ratio of 2.62. The firm has a market capitalization of $9.82 billion, a P/E ratio of 12.87, a P/E/G ratio of 1.20 and a beta of 0.76. Tapestry has a 52-week low of $31.91 and a 52-week high of $55.50.
Tapestry (NYSE:TPR) last issued its earnings results on Thursday, February 7th. The luxury accessories retailer reported $1.07 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.11 by ($0.04). The business had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.86 billion. Tapestry had a return on equity of 23.84% and a net margin of 12.18%. The business’s quarterly revenue was up .9% on a year-over-year basis. During the same period last year, the business earned $1.07 EPS. As a group, research analysts expect that Tapestry will post 2.62 EPS for the current fiscal year.
Institutional investors and hedge funds have recently made changes to their positions in the business. Paradigm Asset Management Co. LLC lifted its position in shares of Tapestry by 7.2% in the 3rd quarter. Paradigm Asset Management Co. LLC now owns 10,400 shares of the luxury accessories retailer’s stock worth $523,000 after purchasing an additional 700 shares during the period. Aperio Group LLC increased its stake in shares of Tapestry by 9.4% in the 3rd quarter. Aperio Group LLC now owns 182,408 shares of the luxury accessories retailer’s stock worth $9,170,000 after acquiring an additional 15,620 shares in the last quarter. Stevens Capital Management LP bought a new position in shares of Tapestry in the 3rd quarter worth about $5,681,000. Martingale Asset Management L P increased its stake in shares of Tapestry by 253.8% in the 3rd quarter. Martingale Asset Management L P now owns 26,235 shares of the luxury accessories retailer’s stock worth $1,319,000 after acquiring an additional 18,820 shares in the last quarter. Finally, State of Alaska Department of Revenue increased its stake in shares of Tapestry by 11.3% in the 4th quarter. State of Alaska Department of Revenue now owns 214,561 shares of the luxury accessories retailer’s stock worth $7,239,000 after acquiring an additional 21,811 shares in the last quarter. 89.62% 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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