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

Tapestry (NYSE:TPR) announced its quarterly earnings results on Thursday. The luxury accessories retailer reported $2.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.70 by $0.30, Zacks reports. Tapestry had a net margin of 12.12% and a return on equity of 36.26%. During the same quarter in the prior year, the company posted $1.63 earnings per share. Tapestry updated its FY 2025 guidance to 4.850-4.900 EPS.

Tapestry Stock Down 0.4 %

NYSE:TPR traded down $0.32 during mid-day trading on Friday, hitting $81.88. The stock had a trading volume of 1,664,493 shares, compared to its average volume of 4,802,647. Tapestry has a twelve month low of $35.23 and a twelve month high of $87.87. The stock has a 50-day simple moving average of $67.72 and a two-hundred day simple moving average of $53.01. The company has a current ratio of 4.93, a quick ratio of 4.38 and a debt-to-equity ratio of 2.35. The company has a market capitalization of $19.08 billion, a PE ratio of 23.63, a PEG ratio of 2.07 and a beta of 1.58.

Analyst Upgrades and Downgrades

TPR has been the subject of several recent analyst reports. The Goldman Sachs Group raised their target price on Tapestry from $58.00 to $66.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Bank of America boosted their price objective on shares of Tapestry from $52.00 to $60.00 and gave the company a “buy” rating in a report on Friday, October 25th. Guggenheim increased their target price on shares of Tapestry from $60.00 to $70.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Telsey Advisory Group boosted their price target on shares of Tapestry from $74.00 to $83.00 and gave the company an “outperform” rating in a research note on Monday. Finally, StockNews.com cut shares of Tapestry from a “buy” rating to a “hold” rating in a research report on Monday, October 28th. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $67.28.

Insiders Place Their Bets

In other Tapestry news, VP Manesh Dadlani sold 8,872 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $57.96, for a total value of $514,221.12. Following the transaction, the vice president now directly owns 35,003 shares in the company, valued at $2,028,773.88. This represents a 20.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.18% of the stock is currently owned by company insiders.

About Tapestry

Tapestry, Inc provides luxury accessories and branded lifestyle products in the United States, Japan, Greater China, and internationally. The company operates in three segments: Coach, Kate Spade, and Stuart Weitzman. It offers women’s handbags; and women’s accessories, such as small leather goods which includes mini and micro handbags, money pieces, wristlets, pouches, and cosmetic cases, as well as novelty accessories including address books, time management and travel accessories, sketchbooks, and portfolios; and belts, key rings, and charms.