Canaccord Genuity set a $58.00 price objective on Tapestry (NYSE:TPR) in a research report sent to investors on Sunday morning. The brokerage currently has a buy rating on the luxury accessories retailer’s stock.
Several other analysts also recently commented on the company. Zacks Investment Research raised Tapestry from a hold rating to a buy rating and set a $51.00 price objective for the company in a research note on Monday. Robert W. Baird set a $50.00 price objective on Tapestry and gave the company a buy rating in a research note on Friday, December 22nd. Needham & Company LLC began coverage on Tapestry in a research note on Monday, December 18th. They set a hold rating for the company. Goldman Sachs Group raised Tapestry from a buy rating to a conviction-buy rating in a research note on Tuesday, December 5th. Finally, TheStreet downgraded Tapestry from a b rating to a c+ rating in a research note on Tuesday, November 7th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus target price of $47.92.
Tapestry (TPR) traded up $0.06 on Friday, reaching $45.35. The company’s stock had a trading volume of 2,220,800 shares, compared to its average volume of 1,982,500. The company has a current ratio of 1.74, a quick ratio of 1.25 and a debt-to-equity ratio of 0.64. The stock has a market cap of $12,860.00, a P/E ratio of 28.17, a PEG ratio of 1.70 and a beta of 0.46. Tapestry has a 12-month low of $34.33 and a 12-month high of $48.85.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Friday, December 8th were given a dividend of $0.3375 per share. This represents a $1.35 annualized dividend and a yield of 2.98%. The ex-dividend date of this dividend was Thursday, December 7th. Tapestry’s payout ratio is 83.85%.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Capital International Investors acquired a new stake in shares of Tapestry in the 3rd quarter worth approximately $25,376,000. Franklin Street Advisors Inc. NC acquired a new stake in shares of Tapestry in the 4th quarter worth approximately $8,173,000. Afam Capital Inc. acquired a new stake in shares of Tapestry in the 3rd quarter worth approximately $6,945,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Tapestry in the 3rd quarter worth approximately $4,916,000. Finally, Exxonmobil Investment Management Inc. TX acquired a new stake in shares of Tapestry in the 4th quarter worth approximately $2,000,000. Institutional investors and hedge funds own 87.63% of the company’s stock.
COPYRIGHT VIOLATION NOTICE: “Tapestry (TPR) Given a $58.00 Price Target at Canaccord Genuity” was first posted by Community Financial News and is owned by of Community Financial News. If you are accessing this piece of content on another domain, it was illegally stolen and republished in violation of U.S. and international trademark and copyright law. The legal version of this piece of content can be viewed at https://www.com-unik.info/2018/01/10/tapestry-tpr-given-a-58-00-price-target-at-canaccord-genuity.html.
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.
Receive News & Ratings for Tapestry Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tapestry and related companies with MarketBeat.com's FREE daily email newsletter.