Tapestry, Inc. (NYSE:TPR) – Research analysts at KeyCorp upped their FY2019 earnings per share (EPS) estimates for shares of Tapestry in a research note issued on Tuesday. KeyCorp analyst E. Yruma now forecasts that the luxury accessories retailer will earn $2.84 per share for the year, up from their prior forecast of $2.74.

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

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A number of other equities research analysts have also weighed in on the company. TheStreet lowered Tapestry from a “b” rating to a “c+” rating in a research report on Tuesday. UBS AG cut their price objective on Tapestry from $50.00 to $48.00 and set a “buy” rating on the stock in a research report on Wednesday. Buckingham Research lifted their price objective on Tapestry from $48.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday. Susquehanna Bancshares Inc began coverage on Tapestry in a research report on Thursday, November 2nd. They issued a “positive” rating and a $50.00 price objective on the stock. Finally, Citigroup Inc. began coverage on Tapestry in a research report on Thursday, November 2nd. They issued a “positive” rating and a $50.00 price objective 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.

Shares of Tapestry (NYSE:TPR) traded up $0.66 during mid-day trading on Thursday, hitting $40.82. The stock had a trading volume of 3,976,700 shares, compared to its average volume of 3,428,382. The company has a market cap of $11,420.51, a price-to-earnings ratio of 18.85, a P/E/G ratio of 1.54 and a beta of 0.45. Tapestry has a 12-month low of $34.16 and a 12-month 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.

A hedge fund recently bought a new stake in Tapestry stock. Point View Wealth Management Inc. bought a new stake in Tapestry, Inc. (NYSE:TPR) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 13,699 shares of the luxury accessories retailer’s stock, valued at approximately $552,000. Institutional investors own 86.63% of the company’s stock.

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‚Äôs brands include Coach, Kate Spade, and Stuart Weitzman. Its segments include North America, International and Stuart Weitzman.

Earnings History and Estimates for Tapestry (NYSE:TPR)

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