Tapestry (NYSE: TPR) had lifted its price target by equity researchers at Citigroup from $ 53.00 to $ 55.00 in a research report issued to customers and investors on Thursday, August 16th. The company currently has a "neutral" rating on the stock of the luxury accessories store. The Citigroup target price indicates a potential benefit of 8.50% of the current price of the share.
A number of other research analysts have also recently weighed on TPR. Morgan Stanley raised their target price on Tapestry shares from $ 42.00 to $ 44.00 and gave the company an "underweight" rating in a research report on Thursday, August 16. Piper Jaffray Companies repeated a "buy" rating and published a $ 59.00 price target on Tapestry shares in a research note on Thursday, August 16. ValuEngine valued Tapestry shares from a & # 39; hold & # 39; credit to a & # 39; buy & # 39; -rating in a research letter on Wednesday, August 15th. Jefferies Financial Group repeated a "hold" rating and published a price target of $ 52.00 on Tapestry shares in a study letter on Wednesday, August 15. Finally, Bank of America raised its price target on Tapestry shares from $ 53.00 to $ 60.00 and gave the company a & # 39; buy & # 39; credit rating on Wednesday, August 15 in a research note. One analyst has rated the shares with a sell rating, eight have given a hold rating and twenty have been awarded a buy rating to the company. Tapestry has an average rating of "Buy" and a consensus target price of $ 56.10.
NYSE TPR shares opened Thursday at $ 50.69. Tapestry has a fifty-two week low of $ 38.70 and a fifty-two week high of $ 55.50. The company has a current ratio of 2.59, a quick ratio of 1.87 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $ 14.78 billion, a K / W ratio of 19.27, a price-earnings ratio of 1.59 and a beta of 0.40.
Tapestry (NYSE: TPR) last published its earnings on Tuesday, August 14th. The retailer of luxury accessories reported a earnings per share of $ 0.60 this quarter, thereby defeating Thomson Reuters' consensus estimate of $ 0.57 with $ 0.03. Tapestry had a net margin of 6.76% and a return on equity of 24.76%. The company had sales of $ 1.48 billion during the quarter compared to the $ 1.47 billion consensus estimate. In the same quarter of the previous year, the company earned $ 0.50 earnings per share. The company's quarterly turnover increased by 30.9% on an annual basis. Research analysts predict that Tapestry will publish 2.77 EPS for the current fiscal year.
In other news, insider Ian Bickley sold 48,071 shares of the company's stock in a transaction that took place on Monday, August 20. The shares were sold at an average price of $ 52.13, for a total value of $ 2,505,941.23. The sale was announced in an application to the SEC, which is accessible via the SEC website. 0.98% of the stock is currently in the possession of insiders.
Various hedge funds and other institutional investors have recently adjusted their holdings to TPR. Voya Investment Management LLC increased its position in Tapestry shares by 147.7% in the second quarter. Voya Investment Management LLC now owns 5,210,305 shares in the range of luxury accessories retailers valued at $ 243,373,000 after the purchase of 3,107,067 additional shares during the period. BlackRock Inc. increased its position in the shares of Tapestry in the second quarter by 15.5%. BlackRock Inc. now owns 20,772,651 shares in the range of luxury accessories retailers valued at $ 970,290,000 after acquiring 2,780,915 additional shares during the period. ANTIPODES PARTNERS Ltd acquired a new position in Tapestry shares worth $ 123,352,000 in the second quarter. FIL Ltd increased its position in Tapestry shares in the first quarter by 1,273.9%. FIL Ltd now owns 2,059,773 shares in the inventory of luxury accessories retailers valued at $ 108,365,000 after acquiring 1,909,851 shares during the period. Finally, Amundi raised Pioneer Asset Management Inc. its position in Tapestry shares by 163.2% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 2,477,088 shares in the range of luxury accessories retailers valued at $ 130,319,000 after acquiring 1,535,800 additional shares during the period. Hedge funds and other institutional investors hold 90.55% of the company's shares.
Tapestry Company Profile
Tapestry, Inc. offers luxury accessories and lifestyle brands in the United States, Japan, China, Hong Kong, Macao, East Asia, Europe, Canada, Taiwan, South Korea, Malaysia and Singapore. It works in three segments: Coach, Kate Spade and Stuart Weitzman. The company offers handbags, wallets, coins, wristbands and cosmetic cases, key rings and charms, as well as address books, time management accessories, travel accessories, sketchbooks and wallets for women; and business suitcases, computer bags, messenger-like bags, backpacks, totes, wallets, card holders, tour organizers, belts, footwear, watches, sunglasses, novelty accessories and ready-to-wear clothing for men.
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