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

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

Other equities research analysts also recently issued reports about the company. Susquehanna Bancshares Inc started coverage on Tapestry in a research report on Thursday, November 2nd. They set a positive rating and a $50.00 target price on the stock. Citigroup Inc. started coverage on Tapestry in a research report on Thursday, November 2nd. They set a positive rating and a $50.00 target price on the stock. Four analysts have rated the stock with a buy rating, The stock currently has a consensus rating of Buy and an average target price of $49.50.

Tapestry (NYSE:TPR) traded up $0.66 during trading on Wednesday, hitting $40.82. The stock had a trading volume of 3,976,700 shares, compared to its average volume of 3,355,745. Tapestry has a twelve month low of $34.16 and a twelve month high of $48.85. The company has a market capitalization of $11,608.19, a price-to-earnings ratio of 19.16, a PEG ratio of 1.56 and a beta of 0.45. The company has a quick ratio of 4.62, a current ratio of 5.24 and a debt-to-equity ratio of 0.53.

Tapestry (NYSE:TPR) last released its earnings results on Tuesday, November 7th. The luxury accessories retailer reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.06. Tapestry had a return on equity of 20.78% and a net margin of 9.62%. The business had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.31 billion. During the same period last year, the business earned $0.45 earnings per share. The firm’s revenue for the quarter was up 24.2% compared to the same quarter last year. analysts predict that Tapestry will post 2.36 earnings per share for the current year.

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A hedge fund recently bought a new stake in Tapestry stock. Point View Wealth Management Inc. acquired a new stake in shares of Tapestry, Inc. (NYSE:TPR) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 13,699 shares of the luxury accessories retailer’s stock, valued at approximately $552,000. 86.63% of the stock is owned by institutional investors.

About Tapestry

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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