Tapestry Inc. (NYSE:TPR) finished Thursday with a subtraction of -$0.33 to close at $33.09, a downside of -0.99 percent. An average of 3,543,240 shares of common stock have been traded in the last five days. There was a fall of -$1.51 in the past week, and it reached a new high 24 times over the past 12 months. The last 20 days have seen an average of 5,706,095 shares traded, while the 50-day average volume stands at 3,694,290.
TPR stock has decreased by -22.09% in the last month. The company shares reached their 1-month lowest point of $32.74 on 08/23/23. With the stock rallying to its 52-week high on 02/02/23, shares of the company touched a low of $27.53 and a high of $47.48 in 52 weeks. It has reached a new high 18 times so far this year and lost -13.10% or -$4.99 in price. In spite of this, the price is down -30.31% 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 266 days ago on Dec 02. In this transaction, the insider spent $60,954. VP, Controller and PAO, Dadlani Manesh, disposed of 2,005 shares at a price of $36.81 on Sep 12. The insider now owns more than $73,804 worth of shares.
Valuation Metrics
Tapestry Inc. (TPR) has a trailing price-to-earnings (P/E) ratio of 8.53. The stock’s beta is 1.52. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 1.15, the price-to-book (PB) ratio at 3.35, and the price-to-cash flow ratio at 9.70.
The company has a payout ratio of 30.30%. The company’s most recent quarterly dividend payment was $0.35 a share, representing a up of 16.67% from $0.30 last year.
Financial Health
The quick ratio of Tapestry Inc. for the three months ended June 29 was 1.10, and the current ratio was 1.80, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.72 and a total debt to equity ratio of 0.73 for the quarter ending June 29. Its gross profit as reported stood at $4.71 billion compared to revenue of $6.66 billion.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Tapestry Inc.’s return on assets was 13.20%.
Earnings Surprise
For the three-month period that ended June 29, Tapestry Inc. had $1.64 billion in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of $224.1 million in the quarter, while revenues of $186.7 million were grew 1.65%. The analyst consensus anticipated Tapestry Inc.’s latest quarter earnings to come in at $0.97 per share, but it turned out to be $0.95, a -2.10% surprise. For the quarter, EBITDA amounted to $325.3 million. Shareholders own equity worth $227.44 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Tapestry Inc. (TPR) price momentum. RSI 9-day as of the close on 24 August was 20.12%, suggesting the stock is oversold, with historical volatility in this time frame at 21.90%.
As of today, TPR’s price is $33.61 -4.36% or -$1.51 from its 5-day moving average. TPR is currently trading -21.16% lower than its 20-day SMA and -23.24% lower than its 100-day SMA. However, the stock’s current price level is -23.53% below the SMA50 and +1.94% above the SMA200.
The stochastic %K and %D were 3.81% and 3.68%, respectively, and the average true range (ATR) was 1.19. With the 14-day stochastic at 3.48% and the average true range at 1.20, the RSI (14) stands at 23.76%. The stock has reached -0.99 on the 9-day MACD Oscillator while the 14-day reading was at -2.70.
Analyst Ratings
Barclays upgraded Tapestry Inc. (NYSE: TPR) to a an Overweight rating in its most recent analyst report. Previously, the stock was rated as an Equal weight. The consensus rating for Tapestry Inc. (TPR) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell TPR, while 5 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 3 analysts, while 11 others rate it as a “buy”.
What is TPR’s price target for the next 12 months?
Analysts predict a range of price targets between $35.00 and $60.00, with a median target of $48.00. Taking a look at these predictions, the average price target given by analysts for Tapestry Inc. (TPR) stock is $48.82.
