Shares of Tapestry Inc (NYSE:TPR) have been given a consensus rating of “Hold” by the twenty-seven research firms that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and ten have given a buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $20.47.
Several research firms have recently issued reports on TPR. BTIG Research assumed coverage on Tapestry in a research note on Tuesday, April 28th. They issued a “neutral” rating for the company. Morgan Stanley dropped their price target on shares of Tapestry from $13.00 to $12.00 and set an “equal weight” rating for the company in a research note on Monday, May 4th. Barclays reissued a “hold” rating and issued a $18.00 price objective on shares of Tapestry in a research note on Friday, April 10th. Guggenheim lowered their target price on Tapestry from $35.00 to $22.00 and set a “buy” rating for the company in a research report on Wednesday, April 29th. Finally, Deutsche Bank decreased their price target on Tapestry from $20.00 to $16.00 and set a “hold” rating for the company in a research note on Friday, April 24th.
In other news, Director John P. Bilbrey purchased 7,100 shares of the business’s stock in a transaction on Thursday, June 11th. The shares were acquired at an average price of $14.48 per share, for a total transaction of $102,808.00. 1.10% of the stock is owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in TPR. Sunbelt Securities Inc. purchased a new position in Tapestry during the fourth quarter valued at approximately $5,239,000. CENTRAL TRUST Co increased its holdings in shares of Tapestry by 4,302.3% in the second quarter. CENTRAL TRUST Co now owns 1,893 shares of the luxury accessories retailer’s stock worth $25,000 after purchasing an additional 1,850 shares during the period. Cerebellum GP LLC purchased a new stake in shares of Tapestry in the second quarter worth $118,000. Sowell Financial Services LLC boosted its stake in Tapestry by 256.9% during the first quarter. Sowell Financial Services LLC now owns 3,130 shares of the luxury accessories retailer’s stock valued at $41,000 after buying an additional 2,253 shares during the period. Finally, Ellevest Inc. purchased a new position in Tapestry during the first quarter worth about $93,000. 88.44% of the stock is currently owned by hedge funds and other institutional investors.
Shares of TPR opened at $13.36 on Tuesday. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.12 and a current ratio of 1.87. Tapestry has a 52 week low of $10.18 and a 52 week high of $31.05. The stock has a market capitalization of $3.69 billion, a price-to-earnings ratio of -16.91, a PEG ratio of 0.92 and a beta of 1.33. The stock has a fifty day moving average of $13.42 and a 200-day moving average of $17.70.
Tapestry (NYSE:TPR) last posted its earnings results on Thursday, April 30th. The luxury accessories retailer reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.11). Tapestry had a negative net margin of 3.64% and a positive return on equity of 16.58%. The firm had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter in the prior year, the business posted $0.42 earnings per share. Tapestry’s revenue for the quarter was down 19.4% compared to the same quarter last year. As a group, equities analysts forecast that Tapestry will post 0.72 EPS for the current year.
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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