Tapestry Inc. (TPR): Why its showing bear behavior?

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Tapestry Inc. (NYSE:TPR) changes shares on Monday trading session, with a change of -0.15% or -$0.02 shares. The trading starts at $13.38 and closed at $13.36 throughout the day. The trading session low price was $12.97 and day high was $13.49 on Monday, August 03. After the session, the Consumer Cyclical sector daily volume shifted to 3.53 million while its average volume is 6.00M. In other hand, the TPR market cap reached to $3.67B. While, its current target price is $18.83.

On July 21, 2020, Tapestry CEO resigns amid internal investigation at Coach owner: source. According to the news reported on Reuters, Tapestry Inc Chairman and Chief Executive Officer Jide Zeitlin stepped down on Tuesday amid an investigation into his personal behavior, a source familiar with the matter said.

Checking out the performance report which defines the increase or decrease of prices for a specific period. For the last 5 trading sessions, its performance is down -2.27% and up 2.54% for month. Its quarterly performance was -9.68% below, while its half year performance is down -48.75%. TPR yearly performance stood at negative -55.16% and fall -50.54% for year-to-date. Current recommendation for Tapestry Inc. is 2.50.

Earnings per share or EPS is an important financial measure, which defines the profitability of a company. TPR EPS (TTM) for 12-month is -1.02. EPS for this year is 7.40%, while for the next year its value is 1.58. Its EPS Q/Q reached -707.70%. It has an EPS of -5.50% down for past five years and for the next five years will be down -9.28%.

Let’s take a look on the analyst recommendations on TPR for the current month and previous month. For the current month, 8 of 29 analysts recommend stock as Buy while 0 as Sell, 3 as overweight, 0 as underweight and 18 as Hold. As compared with the previous month ratings, 0 analysts participate in stock recommendation. Out of 0, 0 rated it sell, 0 rated it as Buy and 0 as Hold Ratings. On the other hand, target price ranges from $12.00 – $34.00. Average target price for TPR was reached at $18.68.

The insider ownership moved to 0.10% and institutional holding shifted to 91.60%.

The company posted an EPS (TTM) of -1.02. According to the most recent quarter report on (Jun 2020), 24 analysts estimated an average EPS of -0.58, while 0.61 EPS posted a year ago period. Analyst Estimated EPS for TPR published in the report was -$1.08 – -$0.11 during the same period. Comparing with last year, the average estimated EPS was 0.61 which is higher than -0.27 which was posted for recent quarter EPS.

A brief look on simple moving average (SMA) that determines the market price can impact a market. The SMA for TPR fall -33.80% for period of 200 days. SMA for 50 days was -4.51% which is showing red signal, while SMA-20 was -0.03%. The moving average value for Tapestry Inc. (TPR) is 17.25 and 13.41 for 200 and 50 days respectively.

Let’s take a look on the insider transactions, in which multiple shareholders are showing interest in TPR stock. On Jun 11, BILBREY JOHN P, Director, bought 7,100 trading shares at the cost of $14.12, which valued at 0.1 million. On Jun 09, BILBREY JOHN P, Director, bought 8,800 shares at the cost of $17.02, with total shares of 13,676. On Nov 29, Dunn Sarah, Global Human Resources Officer, sold 32,000 shares at the cost of 26.78. After this transaction, Dunn Sarah total shares reached to 62,131 which valued at 0.86 million.