Q4 2018 EPS Estimates for Tapestry Inc (TPR) Increased by Analyst

Tapestry Inc (NYSE:TPR) – Equities research analysts at Jefferies Group lifted their Q4 2018 EPS estimates for shares of Tapestry in a research note issued on Tuesday. Jefferies Group analyst R. Konik now anticipates that the luxury accessories retailer will earn $0.63 per share for the quarter, up from their previous forecast of $0.56.

A number of other equities analysts have also weighed in on the stock. Canaccord Genuity set a $58.00 price objective on shares of Tapestry and gave the stock a “buy” rating in a report on Sunday, January 7th. Buckingham Research boosted their price objective on shares of Tapestry from $55.00 to $56.00 and gave the stock a “buy” rating in a report on Wednesday. Citigroup initiated coverage on shares of Tapestry in a report on Thursday, November 2nd. They issued a “positive” rating and a $50.00 price objective for the company. BMO Capital Markets boosted their price objective on shares of Tapestry from $42.00 to $46.00 and gave the stock a “market perform” rating in a report on Wednesday. Finally, Cowen restated a “buy” rating and issued a $54.00 price objective on shares of Tapestry in a report on Wednesday, January 31st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. Tapestry presently has a consensus rating of “Buy” and an average price target of $50.23.

Tapestry (NYSE:TPR) traded up $0.21 during mid-day trading on Friday, hitting $49.06. 5,827,666 shares of the stock traded hands, compared to its average volume of 3,284,814. Tapestry has a 1 year low of $37.46 and a 1 year high of $50.71. The stock has a market capitalization of $13,916.50, a price-to-earnings ratio of 19.94, a price-to-earnings-growth ratio of 1.70 and a beta of 0.59. The company has a quick ratio of 1.25, a current ratio of 1.90 and a debt-to-equity ratio of 0.64.

Tapestry (NYSE:TPR) last released its earnings results on Tuesday, February 6th. The luxury accessories retailer reported $1.07 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.21. Tapestry had a net margin of 6.14% and a return on equity of 23.68%. The firm had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same period last year, the business earned $0.75 earnings per share. The business’s revenue was up 35.1% on a year-over-year basis.

In other news, insider Sarah Dunn sold 6,229 shares of the business’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $48.23, for a total transaction of $300,424.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.98% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Hexavest Inc. bought a new position in Tapestry in the 4th quarter worth $106,000. First Dallas Securities Inc. bought a new position in Tapestry in the 4th quarter worth $108,000. Dupont Capital Management Corp bought a new position in Tapestry in the 4th quarter worth $110,000. Cerebellum GP LLC bought a new position in Tapestry in the 4th quarter worth $118,000. Finally, American Research & Management Co. bought a new position in Tapestry in the 4th quarter worth $129,000. 88.00% of the stock is owned by hedge funds and other institutional investors.

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Tapestry Company Profile

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.

Earnings History and Estimates for Tapestry (NYSE:TPR)

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