As of Thursday close, Tapestry Inc.’s (NYSE:TPR) stock was down -$0.1, moving down -0.30 percent to $33.32. The average number of shares traded per day over the past five days has been 2,998,700 shares. 2 times new highs have been achieved over the past 5 days, with a $0.23 gain in that time frame. In the last twenty days, the average volume was 5,786,250, while in the previous 50 days, it was 3,730,944.
Since last month, TPR stock retreated -20.72%. Shares of the company fell to $32.74 on 08/23/23, the lowest level in the past month. A 52-week high of $47.48 was reached on 02/02/23 after having rallying from a 52-week low of $27.53. Since the beginning of this year, TPR’s stock price has dropped by -12.50% or -$4.76, and marked a new high 18 times. However, the stock has declined by -29.82% since its 52-week high.
TPR stock investors should be aware that Tapestry Inc. (TPR) stock had its last reported insider trading activity 273 days ago on Dec 02. Dadlani Manesh, the VP, Controller and PAO of the company, disposed of 1,582 shares for $38.53 on Dec 02. It resulted in a $60,954 divestment by the insider. Dadlani Manesh sold 2,005 shares at an average price of $36.81 on Sep 12. The insider now owns 33,681 shares following the transaction.
Valuation Metrics
Right now, Tapestry Inc. (TPR) has a P/E ratio of about 8.59. The stock’s beta is 1.50. Besides these, the trailing price-to-sales (P/S) ratio of 1.14, the price-to-book (PB) ratio of 3.37, and the price-to-cash flow ratio of 9.61 may also be considered.
The latest dividend of $0.35 per share was paid out, which is 16.67% more than last year’s $0.30.
Financial Health
In the three months ended June 29, Tapestry Inc.’s quick ratio stood at 1.10, while its current ratio was 1.80, showing that the company is able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending June 29 was 0.72, and the total debt-to-equity ratio was 0.73. On the profitability front, the trailing twelve-month gross margin is 70.80% percent. In the year ended June 29, operating margins totaled 17.60%. Based on annual data, TPR earned $4.71 billion in gross profit and brought in $6.66 billion in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 24.50%. Return on equity (ROE) for the past 12 months was 41.10%.
In Tapestry Inc.’s quarter-end financial report for June 29, it reported total debt of $1.64 billion. According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. TPR’s revenue rose 1.33% to $1.51 billion during the quarter, while net income inched up to $1.62 billion. While analysts expected Tapestry Inc. to report $0.97 quarterly earnings, the actual figure was $0.95 per share, beating the consensus estimate by -2.10%. During the quarter, the company generated $325.3 million in EBITDA. The liabilities of Tapestry Inc. were 4.84 billion at the end of its most recent quarter ended June 29, and its total debt was $3.29 billion. The value of shareholders’ equity is $227.44 million.
Technical Picture
This quick technical analysis looks at Tapestry Inc.’s (TPR) price momentum. With a historical volatility rate of 16.25%, the RSI 9-day stood at 26.19% on 31 August.
With respect to its five-day moving average, the current Tapestry Inc. price is up by +0.70% percent or $0.23. At present, TPR shares trade -22.51% below its 20-day simple moving average and -18.45% percent below its 100-day simple moving average. However, the stock is currently trading approximately -22.91% below its SMA50 and -5.80% below its SMA200.
Stochastic coefficient K was 15.90% and Stochastic coefficient D was 10.96%, while ATR was 0.88. Given the Stochastic reading of 18.12% for the 14-day period, the RSI (14) reading has been calculated as 27.04%. As of today, the MACD Oscillator reading stands at 0.04, while the 14-day reading stands at -0.53.
Analyst Ratings
Barclays upgraded its rating on Tapestry Inc. (NYSE: TPR) to an Overweight in a note to investors on August 01, 2023. The analysts firm previously had an Equal weight rating on the stock.Tapestry Inc. (TPR) has been rated Overweight by analysts. According to 0 brokerage firms, TPR is a sell, and 5 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 3 analysts rate Tapestry Inc. stock as buy, with 11 recommending it as overweight.
With a median target price of $48.00, the current consensus forecast for the stock is $35.00 – $60.00. Based on these forecasts, analysts predict Tapestry Inc. (TPR) will achieve an average price target of $48.82.
