Tapestry, Inc. (NYSE:TPR – Get Free Report) shares hit a new 52-week high during mid-day trading on Friday after Citigroup raised their price target on the stock from $49.00 to $55.00. Citigroup currently has a buy rating on the stock. Tapestry traded as high as $50.40 and last traded at $50.40, with a volume of 199073 shares changing hands. The stock had previously closed at $44.47.
Several other brokerages have also issued reports on TPR. JPMorgan Chase & Co. upped their price target on Tapestry from $51.00 to $66.00 and gave the company an “overweight” rating in a research note on Friday. Bank of America upped their price target on Tapestry from $52.00 to $60.00 and gave the company a “buy” rating in a research note on Friday. Telsey Advisory Group reaffirmed an “outperform” rating and set a $54.00 price target on shares of Tapestry in a research note on Thursday, August 15th. UBS Group cut their price target on Tapestry from $42.00 to $40.00 and set a “neutral” rating on the stock in a research note on Friday, August 16th. Finally, StockNews.com upgraded Tapestry from a “hold” rating to a “buy” rating in a report on Wednesday, September 25th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $51.73.
View Our Latest Analysis on TPR
Institutional Investors Weigh In On Tapestry
Tapestry Stock Performance
The company has a quick ratio of 4.66, a current ratio of 5.14 and a debt-to-equity ratio of 2.39. The firm has a market capitalization of $11.60 billion, a P/E ratio of 13.36, a P/E/G ratio of 1.67 and a beta of 1.53. The stock has a fifty day moving average of $43.54 and a 200-day moving average of $41.89.
Tapestry (NYSE:TPR – Get Free Report) last posted its quarterly earnings data on Thursday, August 15th. The luxury accessories retailer reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.04. The business had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.58 billion. Tapestry had a return on equity of 37.22% and a net margin of 12.23%. Tapestry’s quarterly revenue was down 1.8% on a year-over-year basis. During the same period last year, the company earned $0.95 earnings per share. On average, research analysts anticipate that Tapestry, Inc. will post 4.47 EPS for the current year.
Tapestry Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Friday, September 6th were given a dividend of $0.35 per share. The ex-dividend date was Friday, September 6th. This represents a $1.40 annualized dividend and a yield of 2.77%. Tapestry’s dividend payout ratio (DPR) is presently 37.04%.
About Tapestry
Tapestry, Inc provides luxury accessories and branded lifestyle products in the United States, Japan, Greater China, and internationally. The company operates in three segments: Coach, Kate Spade, and Stuart Weitzman. It offers women’s handbags; and women’s accessories, such as small leather goods which includes mini and micro handbags, money pieces, wristlets, pouches, and cosmetic cases, as well as novelty accessories including address books, time management and travel accessories, sketchbooks, and portfolios; and belts, key rings, and charms.
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