Today’s big question for investors is, “what’s going on with Tapestry, Inc. (NYSE:TPR) stock? Its price is jumping 0.75 points, trading at $29.61 levels, and is up 2.61% from its previous close of $28.86. The shares seem to have an active trading volume day with a reported 2409278 contracts so far this session. TPR shares had a relatively better volume day versus average trading capacity of 5.07 million shares, but with a 0.29 billion float and a -4.88% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for TPR stock indicates that the average analyst price target is $43.44 per share. This means the stock has a potential increase of 46.71% from where the TPR share price has been trading recently which is between $28.74 and $29.78. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $32.
The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Tapestry’s (TPR) Fundamentals, Valuation Make it a Solid Pick” and dated July 09, 2019.
During the recent trading session for Tapestry, Inc. (NYSE:TPR), the company witnessed their stock drop by $-0.78 over a week and surge $0.77 from the price 20 days ago. When compared to their established 52-week high of $54.35, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 08/14/18. The recent low of $27.93 stood for a -45.51% since 05/31/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0.88 is also allocated to the stock. Since the beta is less than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Tapestry, Inc., the two-week RSI stands at 45.21. This figure suggests that TPR stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current TPR readings is similarly very revealing as it has a stochastic reading of 10.31% at this stage. This figure means that TPR share price today is being overbought.
Technical chart claims that Tapestry, Inc. (TPR) would settle between $29.51/share to $30.17/share level. However, if the stock price goes below the $28.47 mark, then the market for Tapestry, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $28.09 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.89. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
TPR equity has an average rating of 1.94, with the figure leaning towards a bullish end. 31 analysts who tracked the company were contacted by Reuters. Amongst them, 9 rated the stock as a hold while the remaining 22 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 22 analysts rated Tapestry, Inc. (NYSE:TPR) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, TPR stock price is currently trading at 10.11X forward 12-month Consensus EPS estimates, and its P/S ratio is 1.4 while for the average stock in the same group, the multiple is 2.25. Tapestry, Inc. current P/E ratio of 11.71 means it is trading at a discount against its industry’s 34.26. In the past 5 years, this ratio for the stock has been fluctuating between 12.37 and 24.88.