The stock of Tapestry Inc. (NYSE:TPR) increased by $0.43 on Monday to finish at $35.55, up 1.22 percent. The last five days have seen an average of 12,032,600 shares of common stock traded. 18 times new highs were reached in the current year, with a fall of -$2.53. The average number of shares traded over the last 20 days was 4,967,855, while the average volume over the last 50 days totaled 3,399,672.
TPR stock dropped -18.58% since last month. On 08/10/23, the company’s shares reached a one-month low of $34.32. The stock touched a high of $47.48 on 02/02/23, after rallying from a low of $27.53 in 52 weeks. The price of TPR stock has declined by -6.64% or -$2.53 this year, reaching a new high 18 times. Still, the stock price is down -25.13% from the 52-week high.
Insider Transactions
TPR stock investors should be aware that Tapestry Inc. (TPR) stock had its last reported insider trading activity 256 days ago on Dec 02. On Dec 02, VP, Controller and PAO Dadlani Manesh sold 1,582 shares at $38.53 each. This transaction resulted in the insider making $60,954. On Sep 12, Dadlani Manesh sold 2,005 shares at a price of US$36.81. After the transaction, the insider now owns 33,681 shares. VP, Controller and PAO Dadlani Manesh had earlier sold 5,602 shares on Aug 25 for $36.85 a share. The transaction was completed for $206,434.
Valuation Metrics
Tapestry Inc. (TPR) has a trailing price-to-earnings (P/E) ratio of 9.68. Beta for the stock is 1.51. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 1.22, the price-to-book (PB) ratio of 3.68, and the price-to-cash flow ratio of 12.65.
Company paid $0.35 per share in dividends, an increase of 16.67% from $0.30 last year.
Financial Health
For the three months ended March 30, Tapestry Inc.’s quick ratio was 1.10, while its current ratio was 1.90, indicating its ability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending March 30 is 0.73, and the total debt to equity ratio is 0.74. As far as profitability goes, gross margin for the trailing twelve months is 69.90% percent. Tapestry Inc.’s operating margin stood at 17.20% for the same period. Based on annual data, it had gross profit of $4.65 billion and revenue of $6.68 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. TPR’s return on assets (ROA) during the last 12 months has been 12.60%. There was a 23.40% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 39.50%.
Earnings Surprise
According to Tapestry Inc.’s quarterly financial report for the quarter that ended March 30, it had $1.64 billion in total debt versus $14.6 million in cash and short-term investments. A lower net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $1.51 billion, while revenues rose by 4.77% to $2.03 billion. It was predicted that Tapestry Inc.’s quarterly earnings would be $0.78, but it ended up being $0.59, beating the consensus by 32.20%. EBITDA was $268.2 million for the quarter. At the end of Tapestry Inc.’s most recent quarter ended March 30, its liabilities totaled 4.72 billion, while its total debt was $3.3 billion. Equity owned by shareholders amounts to $231.8 million.
Technical Picture
Here’s a quick look at Tapestry Inc.’s (TPR) price momentum from a technical perspective. As of 14 August, the RSI 9-day stood at 22.70%, suggesting the stock is oversold, with a 87.54% historical volatility rate.
The stochastic %K and %D were 8.38% and 8.18% respectively, while the average true range (ATR) was 1.56. Based on the 14-day stochastic reading of 12.98%, the RSI (14) reading is 26.88%. On the 9-day MACD Oscillator, the stock is at -4.63, and the 14-day reading is at -5.68.
Analyst Ratings
In its most recent analyst report, Barclays raised its rating on Tapestry Inc. (NYSE: TPR) to an Overweight. Prior to this, analysts firm rated the stock as an Equal weight. Analysts have assigned Tapestry Inc. (TPR) an Overweight rating. TPR is a stock that is recommended for selling by 0 brokerage firms, while 4 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 5 rates it overweight and 11 others recommend it as a buy.
What is TPR’s price target for the next 12 months?
The current consensus forecast for the stock is between $42.00 and $60.00, with a median target price of $50.00. In analyzing these forecasts, the average price target given by analysts for Tapestry Inc. (TPR) is $50.11.
