Analysts at Susquehanna Bancshares Inc assumed coverage on shares of Tapestry, Inc. (NYSE:TPR) in a research report issued to clients and investors on Thursday, November 2nd. The firm set a “positive” rating and a $50.00 price target on the luxury accessories retailer’s stock. Susquehanna Bancshares Inc’s target price would indicate a potential upside of 23.64% from the stock’s current price.
A number of other analysts also recently issued reports on the stock. OTR Global raised shares of Tapestry to a “positive” rating in a report on Friday, July 21st. Sanford C. Bernstein began coverage on shares of Tapestry in a report on Tuesday, September 12th. They issued an “outperform” rating and a $51.00 price objective on the stock. Consumer Edge downgraded shares of Tapestry from an “outperform” rating to a “neutral” rating in a report on Wednesday, October 11th. William Blair reissued a “buy” rating on shares of Tapestry in a report on Saturday, October 21st. Finally, BMO Capital Markets set a $42.00 target price on shares of Tapestry and gave the stock a “hold” rating in a research note on Thursday, July 6th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and twenty-three have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $47.70.
Shares of Tapestry (NYSE:TPR) opened at $40.44 on Thursday. The company has a quick ratio of 1.25, a current ratio of 1.74 and a debt-to-equity ratio of 0.64. Tapestry has a 12 month low of $34.16 and a 12 month high of $48.85. The stock has a market cap of $11,608.20, a price-to-earnings ratio of 19.16, a PEG ratio of 1.56 and a beta of 0.45.
Tapestry (NYSE:TPR) last issued its quarterly earnings results on Tuesday, November 7th. The luxury accessories retailer reported $0.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.06. The company had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.31 billion. Tapestry had a net margin of 9.62% and a return on equity of 20.71%. Tapestry’s quarterly revenue was up 24.2% compared to the same quarter last year. During the same period last year, the business earned $0.45 EPS. analysts forecast that Tapestry will post 2.36 earnings per share for the current fiscal year.
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In related news, CAO Todd Kahn sold 4,586 shares of the company’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $40.85, for a total value of $187,338.10. Following the completion of the transaction, the chief accounting officer now directly owns 72,412 shares of the company’s stock, valued at approximately $2,958,030.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Melinda Brown sold 8,250 shares of the company’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $41.28, for a total transaction of $340,560.00. Following the completion of the sale, the senior vice president now directly owns 42,884 shares in the company, valued at $1,770,251.52. The disclosure for this sale can be found here. Insiders own 0.98% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of TPR. M&R Capital Management Inc. acquired a new stake in shares of Tapestry during the 3rd quarter worth approximately $153,000. LMR Partners LLP bought a new position in shares of Tapestry during the third quarter valued at $229,000. Finally, Point View Wealth Management Inc. bought a new position in shares of Tapestry during the third quarter valued at $552,000. Institutional investors and hedge funds own 87.81% of the company’s stock.
Tapestry Company Profile
Tapestry, Inc, formerly Coach, Inc, is a design house of luxury accessories and lifestyle collections. The Company’s product offering uses a range of leathers, fabrics and materials. The Company’s brands include Coach, Kate Spade, and Stuart Weitzman. Its segments include North America, International and Stuart Weitzman.
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