Tapestry (NYSE:TPR) had its price objective decreased by KeyCorp from $42.00 to $30.00 in a research report report published on Friday morning, AnalystRatings.com reports. KeyCorp currently has an overweight rating on the luxury accessories retailer’s stock. KeyCorp also issued estimates for Tapestry’s Q2 2020 earnings at $1.08 EPS, Q4 2020 earnings at $0.67 EPS, FY2020 earnings at $2.57 EPS and FY2021 earnings at $2.78 EPS.

TPR has been the topic of a number of other reports. Credit Suisse Group lowered shares of Tapestry from an outperform rating to a neutral rating and decreased their target price for the stock from $38.00 to $22.00 in a research note on Thursday. OTR Global lowered shares of Tapestry to a positive rating in a research note on Tuesday, April 23rd. UBS Group raised their target price on shares of Tapestry from $50.00 to $51.00 and gave the stock a buy rating in a research note on Friday, May 10th. Standpoint Research raised shares of Tapestry from a hold rating to a buy rating in a research note on Thursday, May 9th. Finally, Goldman Sachs Group lowered shares of Tapestry from a buy rating to a neutral rating and decreased their target price for the stock from $43.00 to $24.00 in a research note on Friday. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and seventeen have given a buy rating to the stock. Tapestry has a consensus rating of Buy and a consensus price target of $39.30.

TPR traded up $0.51 during trading on Friday, reaching $19.96. The company’s stock had a trading volume of 13,891,500 shares, compared to its average volume of 3,629,128. The company has a quick ratio of 1.86, a current ratio of 2.67 and a debt-to-equity ratio of 0.45. The firm has a fifty day simple moving average of $29.33 and a two-hundred day simple moving average of $31.72. Tapestry has a 1 year low of $18.54 and a 1 year high of $52.49. The company has a market cap of $7.25 billion, a price-to-earnings ratio of 7.77, a PEG ratio of 0.82 and a beta of 0.88.

Tapestry (NYSE:TPR) last released its earnings results on Thursday, August 15th. The luxury accessories retailer reported $0.61 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.61. Tapestry had a net margin of 11.78% and a return on equity of 22.08%. The business had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same period last year, the company posted $0.60 EPS. The business’s revenue was up 2.0% on a year-over-year basis. As a group, equities analysts forecast that Tapestry will post 2.83 EPS for the current fiscal year.

In related news, Director Darrell Cavens bought 7,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The stock was purchased at an average price of $30.01 per share, for a total transaction of $210,070.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Annabelle Yu Long sold 3,229 shares of Tapestry stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $28.93, for a total transaction of $93,414.97. The disclosure for this sale can be found here. 0.70% of the stock is currently owned by company insiders.

Institutional investors have recently bought and sold shares of the stock. Nelson Roberts Investment Advisors LLC acquired a new stake in Tapestry in the 1st quarter valued at approximately $26,000. Avestar Capital LLC increased its holdings in Tapestry by 2,225.0% in the 1st quarter. Avestar Capital LLC now owns 1,209 shares of the luxury accessories retailer’s stock valued at $39,000 after purchasing an additional 1,157 shares during the last quarter. Quadrant Capital Group LLC increased its holdings in Tapestry by 1,079.0% in the 1st quarter. Quadrant Capital Group LLC now owns 1,403 shares of the luxury accessories retailer’s stock valued at $44,000 after purchasing an additional 1,284 shares during the last quarter. NumerixS Investment Technologies Inc acquired a new stake in Tapestry in the 2nd quarter valued at approximately $50,000. Finally, CSat Investment Advisory L.P. increased its holdings in Tapestry by 106.7% in the 2nd quarter. CSat Investment Advisory L.P. now owns 1,827 shares of the luxury accessories retailer’s stock valued at $58,000 after purchasing an additional 943 shares during the last quarter. Hedge funds and other institutional investors own 87.42% of the company’s stock.

Tapestry Company Profile

Tapestry, Inc provides luxury accessories and lifestyle brands in the United States, Japan, China, Hong Kong, Macau, East Asia, Europe, Canada, Taiwan, South Korea, Malaysia, and Singapore. It operates through three segments: Coach, Kate Spade, and Stuart Weitzman. The company offers handbags, wallets, money pieces, wristlets and cosmetic cases, key rings, and charms, as well as address books, time management accessories, travel accessories, sketchbooks, and portfolios for women; and business cases, computer bags, messenger-style bags, backpacks, totes, wallets, card cases, travel organizers, belts, footwear, watches, sunglasses, novelty accessories, and ready-to-wear for men.

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Analyst Recommendations for Tapestry (NYSE:TPR)

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