Robert W. Baird Analysts Give Tapestry (TPR) a $50.00 Price Target
Tapestry (NYSE:TPR) has been assigned a $50.00 target price by analysts at Robert W. Baird in a research report issued to clients and investors on Friday. The brokerage presently has a “buy” rating on the luxury accessories retailer’s stock. Robert W. Baird’s price objective points to a potential upside of 12.66% from the stock’s previous close.
Several other equities research analysts also recently issued reports on TPR. Sanford C. Bernstein initiated coverage on shares of Tapestry in a research note on Tuesday, September 12th. They set an “outperform” rating and a $51.00 price objective for the company. Vetr downgraded shares of Tapestry from a “strong-buy” rating to a “buy” rating and set a $45.90 price objective for the company. in a research note on Wednesday, September 13th. Jefferies Group reiterated a “hold” rating and set a $42.00 price objective on shares of Tapestry in a research note on Saturday, September 16th. Barclays began coverage on shares of Tapestry in a research report on Tuesday, September 19th. They set an “equal weight” rating and a $45.00 target price on the stock. Finally, Cowen reissued a “buy” rating and set a $46.00 target price on shares of Tapestry in a research report on Thursday, September 28th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $47.73.
Tapestry (TPR) traded up $0.11 during trading on Friday, reaching $44.38. 1,838,700 shares of the company were exchanged, compared to its average volume of 3,356,012. Tapestry has a 52-week low of $34.22 and a 52-week high of $48.85. The stock has a market capitalization of $12,620.57, a P/E ratio of 27.57, a price-to-earnings-growth ratio of 1.67 and a beta of 0.46. The company has a current ratio of 1.74, a quick ratio of 1.25 and a debt-to-equity ratio of 0.64.
Tapestry (NYSE:TPR) last released its earnings results on Tuesday, November 7th. The luxury accessories retailer reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.06. Tapestry had a net margin of 9.62% and a return on equity of 20.71%. The firm had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same period in the previous year, the firm earned $0.45 earnings per share. Tapestry’s revenue was up 24.2% compared to the same quarter last year. analysts anticipate that Tapestry will post 2.37 EPS for the current fiscal year.
Several institutional investors have recently added to or reduced their stakes in TPR. Capital International Investors bought a new position in shares of Tapestry during the third quarter worth about $25,376,000. Afam Capital Inc. bought a new position in shares of Tapestry during the third quarter worth about $6,945,000. Public Employees Retirement System of Ohio bought a new position in shares of Tapestry during the third quarter worth about $4,916,000. New Mexico Educational Retirement Board bought a new position in Tapestry in the 3rd quarter valued at about $1,051,000. Finally, Point View Wealth Management Inc. bought a new position in Tapestry in the 3rd quarter valued at about $552,000. Institutional investors and hedge funds own 87.63% 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.
Receive News & Ratings for Tapestry Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tapestry and related companies with MarketBeat.com's FREE daily email newsletter.