TPR has dropped nearly 20% in price over the past 6 months
Tapestry, Inc. (NYSE:TPR) is an American luxury fashion holding company based in New York City. TPR’s portfolio of brands includes major names like Coach New York, Kate Spade New York, and Stuart Weitzman. This afternoon, TPR was last seen trading down 0.9% at $39.26. Tapestry is due to release its fiscal first-quarter earnings on Nov. 11. Wall Street analysts expect that the luxury brand will report earnings of $0.70 per share.
Tapestry stock has increased about 84% in year-over-year and has added 91% since dropping to a 52-week low of $20.73 around this time last year. Additionally, shares of TPR have grown 26% year-to-date, but Tapestry stock is currently down 20% from its two-year high of $49.67, tapped in early May. Overhead pressure has emerged in the past few months at the 80-day moving average, capping most breakout attempts by the shares.
TPR also offer a solid dividend yield of 2.59%, which is based off its forward dividend of $1.00. Furthermore, Tapestry stock sports a great valuation, with a price-earnings ratio of 13.44 and a forward price-earnings ratio of 11.40. Overall, Tapestry stock continues to present itself as an attractive value play to investors, despite TPR already being up significantly over the past year, and even more so after its sell-off over the last six months.
Analysts are heavily bullish on the security, too. Heading into today's trading, 10 of the 12 covering brokerages sport a "buy" or "strong buy" recommendation. Short interest has also been climbing, up nearly 50% during the past two reporting periods alone.