Tapestry (NYSE:TPR) Issues Quarterly Earnings Results, Beats Expectations By $0.30 EPS

Tapestry (NYSE:TPR) announced its earnings results on Thursday. The luxury accessories retailer reported ($0.25) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.55) by $0.30, MarketWatch Earnings reports. Tapestry had a negative net margin of 3.64% and a positive return on equity of 16.58%. During the same quarter in the previous year, the firm posted $0.61 EPS.

Shares of NYSE TPR traded up $0.60 during mid-day trading on Friday, hitting $16.03. 530,520 shares of the company were exchanged, compared to its average volume of 5,579,457. The company has a quick ratio of 1.12, a current ratio of 1.87 and a debt-to-equity ratio of 1.36. The stock has a 50 day simple moving average of $13.44 and a 200-day simple moving average of $16.78. Tapestry has a 1-year low of $10.18 and a 1-year high of $30.40. The firm has a market cap of $4.26 billion, a price-to-earnings ratio of -20.15, a price-to-earnings-growth ratio of 1.01 and a beta of 1.32.

A number of research analysts have commented on the stock. Deutsche Bank decreased their target price on shares of Tapestry from $20.00 to $16.00 and set a “hold” rating on the stock in a research report on Friday, April 24th. HSBC upgraded shares of Tapestry from a “hold” rating to a “buy” rating and cut their price target for the stock from $31.00 to $20.00 in a research note on Thursday, May 7th. Bank of America reiterated a “buy” rating and set a $21.00 price target on shares of Tapestry in a research note on Thursday. Morgan Stanley boosted their price target on shares of Tapestry from $12.00 to $15.00 and gave the stock an “equal weight” rating in a research note on Friday. Finally, UBS Group boosted their price target on shares of Tapestry from $14.00 to $15.00 and gave the stock a “neutral” rating in a research note on Monday. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and eleven have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $20.15.

In other Tapestry news, Director John P. Bilbrey acquired 7,100 shares of the business’s stock in a transaction on Thursday, June 11th. The stock was purchased at an average price of $14.48 per share, for a total transaction of $102,808.00. 1.10% of the stock is owned by company insiders.

About Tapestry

Tapestry, Inc provides luxury accessories and lifestyle brands in the United States, Japan, China, Hong Kong, Macau, East Asia, Europe, Canada, Taiwan, South Korea, Malaysia, and Singapore. It operates through three segments: Coach, Kate Spade, and Stuart Weitzman. The company offers handbags, wallets, money pieces, wristlets and cosmetic cases, key rings, and charms, as well as address books, time management accessories, travel accessories, sketchbooks, and portfolios for women; and business cases, computer bags, messenger-style bags, backpacks, totes, wallets, card cases, travel organizers, belts, footwear, watches, sunglasses, novelty accessories, and ready-to-wear for men.

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Earnings History for Tapestry (NYSE:TPR)

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