Investment 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, MarketBeat reports. The firm set a “positive” rating and a $50.00 price target on the luxury accessories retailer’s stock. Susquehanna Bancshares Inc’s price target indicates a potential upside of 21.21% from the company’s current price.
Several other equities analysts have also recently commented on the stock. Citigroup Inc. began coverage on shares of Tapestry in a research report on Thursday, November 2nd. They set a “positive” rating and a $50.00 price target on the stock. William Blair reaffirmed a “buy” rating on shares of Tapestry in a research report on Saturday, October 21st. Zacks Investment Research cut shares of Tapestry from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 17th. Robert W. Baird set a $49.00 price target on shares of Tapestry and gave the stock a “buy” rating in a research report on Tuesday, October 17th. Finally, KeyCorp set a $53.00 price target on shares of Tapestry and gave the stock a “buy” rating in a research report on Wednesday, October 11th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty-three have given a buy rating to the company’s stock. Tapestry currently has a consensus rating of “Buy” and a consensus price target of $47.70.
Shares of Tapestry (NYSE TPR) traded down $0.82 during trading on Thursday, hitting $41.25. The stock had a trading volume of 1,937,168 shares, compared to its average volume of 3,426,844. The company has a quick ratio of 1.25, a current ratio of 1.74 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $11,960.00, a P/E ratio of 19.56, a PEG ratio of 1.59 and a beta of 0.45. Tapestry has a 12 month low of $34.16 and a 12 month high of $48.85.
Tapestry (NYSE:TPR) last announced its earnings results on Tuesday, November 7th. The luxury accessories retailer reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.06. The company had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.31 billion. Tapestry had a return on equity of 20.71% and a net margin of 9.62%. The company’s revenue was up 24.2% on a year-over-year basis. During the same period last year, the firm earned $0.45 earnings per share. sell-side analysts expect that Tapestry will post 2.37 earnings per share for the current year.
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In other Tapestry news, CAO Todd Kahn sold 4,586 shares of Tapestry stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 72,412 shares in the company, valued at $2,958,030.20. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Melinda Brown sold 8,250 shares of Tapestry stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $41.28, for a total transaction of $340,560.00. Following the completion of the transaction, the senior vice president now owns 42,884 shares in the company, valued at approximately $1,770,251.52. The disclosure for this sale can be found here. Insiders own 0.98% of the company’s stock.
A number of institutional investors have recently bought and sold shares of TPR. Point View Wealth Management Inc. acquired a new position in Tapestry in the 3rd quarter worth approximately $552,000. LMR Partners LLP acquired a new position in Tapestry in the 3rd quarter worth approximately $229,000. M&R Capital Management Inc. acquired a new position in Tapestry in the 3rd quarter worth approximately $153,000. Capital International Investors acquired a new position in Tapestry in the 3rd quarter worth approximately $25,376,000. Finally, Afam Capital Inc. acquired a new position in Tapestry in the 3rd quarter worth approximately $6,945,000. 86.40% of the stock is owned by hedge funds and other institutional investors.
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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