Tapestry (NYSE:TPR) Given New $42.00 Price Target at UBS Group

Tapestry (NYSE:TPR) had its target price decreased by stock analysts at UBS Group from $45.00 to $42.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the luxury accessories retailer’s stock. UBS Group’s price objective points to a potential upside of 3.68% from the stock’s previous close.

Other research analysts also recently issued research reports about the stock. StockNews.com downgraded shares of Tapestry from a “buy” rating to a “hold” rating in a research report on Tuesday. JPMorgan Chase & Co. cut their price target on shares of Tapestry from $56.00 to $54.00 and set an “overweight” rating on the stock in a research report on Friday, May 10th. Bernstein Bank lifted their price objective on Tapestry from $46.00 to $48.00 in a research report on Thursday, May 9th. Robert W. Baird cut their target price on Tapestry from $52.00 to $50.00 and set an “outperform” rating on the stock in a research report on Friday, May 10th. Finally, OTR Global reissued a “mixed” rating on shares of Tapestry in a research note on Wednesday, April 17th. Seven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Tapestry currently has an average rating of “Moderate Buy” and a consensus target price of $48.24.

Tapestry Trading Up 1.9 %

NYSE TPR traded up $0.74 on Wednesday, hitting $40.51. The company’s stock had a trading volume of 775,481 shares, compared to its average volume of 3,320,458. The firm has a market cap of $9.31 billion, a PE ratio of 10.72, a PEG ratio of 0.82 and a beta of 1.59. The company’s 50-day moving average is $41.93 and its 200 day moving average is $42.52. The company has a quick ratio of 5.98, a current ratio of 6.59 and a debt-to-equity ratio of 2.77. Tapestry has a 1-year low of $25.99 and a 1-year high of $48.80.

Tapestry (NYSE:TPR) last announced its earnings results on Thursday, May 9th. The luxury accessories retailer reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.14. The business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.50 billion. Tapestry had a return on equity of 39.78% and a net margin of 13.15%. Tapestry’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same period last year, the company earned $0.78 EPS. As a group, analysts predict that Tapestry will post 4.24 earnings per share for the current fiscal year.

Insider Buying and Selling at Tapestry

In other Tapestry news, VP Manesh Dadlani sold 2,500 shares of Tapestry stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $42.23, for a total value of $105,575.00. Following the sale, the vice president now owns 37,173 shares of the company’s stock, valued at $1,569,815.79. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.93% of the company’s stock.

Institutional Investors Weigh In On Tapestry

A number of hedge funds have recently modified their holdings of the stock. Dumont & Blake Investment Advisors LLC bought a new position in shares of Tapestry during the 4th quarter worth $626,000. Camelot Portfolios LLC bought a new stake in shares of Tapestry in the fourth quarter valued at approximately $941,000. Asset Management One Co. Ltd. lifted its stake in shares of Tapestry by 13.3% during the 4th quarter. Asset Management One Co. Ltd. now owns 29,213 shares of the luxury accessories retailer’s stock valued at $1,083,000 after buying an additional 3,425 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in Tapestry by 3,326.2% in the 4th quarter. International Assets Investment Management LLC now owns 111,350 shares of the luxury accessories retailer’s stock worth $4,099,000 after buying an additional 108,100 shares during the period. Finally, Sowell Financial Services LLC raised its holdings in Tapestry by 24.6% during the 4th quarter. Sowell Financial Services LLC now owns 22,858 shares of the luxury accessories retailer’s stock valued at $841,000 after acquiring an additional 4,510 shares during the period. Institutional investors own 90.77% of the company’s stock.

Tapestry Company Profile

Tapestry, Inc provides luxury accessories and branded lifestyle products in the United States, Japan, Greater China, and internationally. The company operates in three segments: Coach, Kate Spade, and Stuart Weitzman. It offers women's handbags; and women's accessories, such as small leather goods which includes mini and micro handbags, money pieces, wristlets, pouches, and cosmetic cases, as well as novelty accessories including address books, time management and travel accessories, sketchbooks, and portfolios; and belts, key rings, and charms.