Tapestry (NYSE:TPR) announced its earnings results on Tuesday. The luxury accessories retailer reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03, Bloomberg Earnings reports. Tapestry had a net margin of 6.10% and a return on equity of 24.12%. The business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.47 billion. During the same quarter last year, the firm earned $0.50 earnings per share. Tapestry’s quarterly revenue was up 30.9% on a year-over-year basis. Tapestry updated its FY19 guidance to $2.70-2.80 EPS.
TPR opened at $51.96 on Tuesday. Tapestry has a 1-year low of $38.70 and a 1-year high of $55.50. The company has a quick ratio of 1.83, a current ratio of 2.66 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $13.80 billion, a price-to-earnings ratio of 24.17, a P/E/G ratio of 1.46 and a beta of 0.40.
A number of equities analysts recently weighed in on the stock. Oppenheimer lifted their target price on shares of Tapestry from $60.00 to $65.00 in a research note on Monday, April 30th. Canaccord Genuity set a $59.00 target price on shares of Tapestry and gave the stock a “buy” rating in a research note on Friday, April 27th. Guggenheim reissued a “buy” rating and set a $65.00 target price on shares of Tapestry in a research note on Friday, April 27th. Buckingham Research assumed coverage on shares of Tapestry in a research note on Friday, April 20th. They set a “buy” rating and a $62.00 target price for the company. Finally, Deutsche Bank lifted their target price on shares of Tapestry to $64.00 and gave the stock a “buy” rating in a research note on Thursday, April 19th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have issued a buy rating to the stock. Tapestry has an average rating of “Buy” and a consensus target price of $54.34.
Tapestry, Inc provides luxury accessories and lifestyle brands. It offers handbags, wallets, money pieces, wristlets and cosmetic cases, key rings, and charms, as well as address books, time management accessories, sketchbooks, and portfolios for women; and business cases, computer bags, messenger-style bags, backpacks, totes, wallets, card cases, belts, sunglasses, watches, novelty accessories, and ready-to-wear for men.
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