Needham & Company LLC assumed coverage on shares of Tapestry (NYSE:TPR) in a report issued on Monday morning, Marketbeat Ratings reports. The firm issued a hold rating on the luxury accessories retailer’s stock.

A number of other equities analysts also recently issued reports on the company. Goldman Sachs Group upgraded Tapestry from a buy rating to a conviction-buy rating in a research note on Tuesday, December 5th. TheStreet downgraded Tapestry from a b rating to a c+ rating in a research note on Tuesday, November 7th. UBS dropped their price target on Tapestry from $50.00 to $48.00 and set a buy rating on the stock in a research note on Wednesday, November 8th. Buckingham Research lifted their target price on Tapestry from $48.00 to $50.00 and gave the company a buy rating in a research report on Wednesday, November 8th. Finally, Susquehanna Bancshares 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. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of Buy and a consensus target price of $47.70.

Tapestry (TPR) opened at $43.28 on Monday. The stock has a market capitalization of $12,364.63, a price-to-earnings ratio of 20.41, a PEG ratio of 1.63 and a beta of 0.46. Tapestry has a 52 week low of $34.16 and a 52 week high of $48.85. The company has a quick ratio of 1.25, a current ratio of 1.74 and a debt-to-equity ratio of 0.64.

Tapestry (NYSE:TPR) last released its quarterly earnings results on Tuesday, November 7th. The luxury accessories retailer reported $0.42 earnings per share (EPS) 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 the consensus estimate of $1.31 billion. Tapestry had a return on equity of 20.71% and a net margin of 9.62%. The company’s revenue for the quarter was up 24.2% on a year-over-year basis. During the same period last year, the business posted $0.45 EPS. research analysts predict that Tapestry will post 2.37 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 8th will be given a $0.3375 dividend. The ex-dividend date is Thursday, December 7th. This represents a $1.35 annualized dividend and a dividend yield of 3.12%. Tapestry’s payout ratio is 83.85%.

Institutional investors have recently made changes to their positions in the company. M&R Capital Management Inc. purchased a new position in shares of Tapestry in the third quarter valued at about $153,000. LMR Partners LLP purchased a new position in shares of Tapestry in the third quarter valued at about $229,000. Point View Wealth Management Inc. purchased a new position in shares of Tapestry in the third quarter valued at about $552,000. New Mexico Educational Retirement Board purchased a new position in shares of Tapestry in the third quarter valued at about $1,051,000. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of Tapestry in the third quarter valued at about $4,916,000. Institutional investors and hedge funds own 87.63% of the company’s stock.

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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.

Analyst Recommendations for Tapestry (NYSE:TPR)

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