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) 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.
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