Tapestry (NYSE:TPR) issued its quarterly earnings results on Tuesday. The luxury accessories retailer reported $0.40 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.03, Briefing.com reports. The firm had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.38 billion. Tapestry had a return on equity of 21.64% and a net margin of 10.68%. Tapestry’s revenue was down 1.7% on a year-over-year basis. During the same quarter last year, the business posted $0.48 EPS.
Shares of NYSE TPR traded up $1.14 during trading hours on Thursday, hitting $27.07. The stock had a trading volume of 100,405 shares, compared to its average volume of 4,334,407. The company has a market capitalization of $7.46 billion, a P/E ratio of 10.49, a P/E/G ratio of 1.12 and a beta of 1.02. The firm’s 50-day moving average price is $25.71 and its two-hundred day moving average price is $27.77. Tapestry has a 52 week low of $18.54 and a 52 week high of $43.35. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.94 and a current ratio of 2.79.
A number of equities analysts recently weighed in on TPR shares. Wells Fargo & Co reissued a “buy” rating on shares of Tapestry in a research note on Tuesday. Cowen cut Tapestry from an “outperform” rating to a “market perform” rating and set a $22.00 price target on the stock. in a research note on Thursday, August 29th. Telsey Advisory Group cut Tapestry from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 15th. Citigroup lifted their price target on Tapestry from $20.00 to $28.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, Deutsche Bank set a $33.00 target price on Tapestry and gave the company a “buy” rating in a research note on Friday, August 16th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and fifteen have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $33.13.
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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