Buckingham Research Boosts Tapestry, Inc. (TPR) Price Target to $50.00

Tapestry, Inc. (NYSE:TPR) had its target price upped by Buckingham Research from $48.00 to $50.00 in a report released on Wednesday. The firm currently has a buy rating on the luxury accessories retailer’s stock.

Several other brokerages also recently commented on TPR. Citigroup Inc. began coverage on shares of Tapestry in a research report on Thursday, November 2nd. They issued a positive rating and a $50.00 price target for the company. Susquehanna Bancshares Inc began coverage on shares of Tapestry in a research report on Thursday, November 2nd. They issued a positive rating and a $50.00 target price for the company. Four investment analysts have rated the stock with a buy rating, The stock presently has a consensus rating of Buy and a consensus target price of $49.50.

Tapestry (NYSE TPR) traded up $0.66 during midday trading on Wednesday, reaching $40.82. 3,956,206 shares of the company’s stock traded hands, compared to its average volume of 3,355,745. Tapestry has a 1 year low of $34.16 and a 1 year high of $48.85. The company has a current ratio of 5.24, a quick ratio of 4.62 and a debt-to-equity ratio of 0.53. The company has a market cap of $11,420.51, a PE ratio of 18.85, a price-to-earnings-growth ratio of 1.54 and a beta of 0.45.

Tapestry (NYSE:TPR) last posted its quarterly earnings data on Tuesday, November 7th. The luxury accessories retailer reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.06. The business had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.31 billion. Tapestry had a net margin of 9.62% and a return on equity of 20.78%. The business’s revenue was up 24.2% on a year-over-year basis. During the same period last year, the firm posted $0.45 earnings per share. equities research analysts anticipate that Tapestry will post 2.36 earnings per share for the current year.

COPYRIGHT VIOLATION WARNING: This article was originally reported by StockNewsTimes and is the sole property of of StockNewsTimes. If you are accessing this article on another website, it was illegally copied and reposted in violation of United States and international trademark and copyright law. The legal version of this article can be read at https://stocknewstimes.com/2017/11/11/buckingham-research-boosts-tapestry-inc-tpr-price-target-to-50-00.html.

An institutional investor recently bought a new position in Tapestry stock. LMR Partners LLP purchased a new position in shares of Tapestry, Inc. (NYSE:TPR) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund purchased 5,685 shares of the luxury accessories retailer’s stock, valued at approximately $229,000. 86.63% of the stock is owned by institutional investors and hedge funds.

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 Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tapestry Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply