Tapestry (NYSE:TPR) Rating Reiterated by Telsey Advisory Group

Tapestry (NYSE:TPR)‘s stock had its “outperform” rating reiterated by investment analysts at Telsey Advisory Group in a research report issued on Friday, Benzinga reports. They currently have a $54.00 price target on the luxury accessories retailer’s stock. Telsey Advisory Group’s price objective points to a potential upside of 41.25% from the stock’s previous close.

TPR has been the subject of a number of other research reports. Bernstein Bank lifted their price objective on Tapestry from $46.00 to $48.00 in a research report on Thursday, May 9th. OTR Global reiterated a “mixed” rating on shares of Tapestry in a report on Wednesday, April 17th. Argus reaffirmed a “buy” rating and issued a $52.00 target price on shares of Tapestry in a research note on Tuesday, June 18th. Wells Fargo & Company lowered their target price on shares of Tapestry from $55.00 to $52.00 and set an “overweight” rating for the company in a research note on Wednesday, July 24th. Finally, UBS Group lowered their price objective on Tapestry from $45.00 to $42.00 and set a “neutral” rating for the company in a research report on Wednesday, July 31st. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, Tapestry has a consensus rating of “Moderate Buy” and a consensus price target of $47.56.

Tapestry Price Performance

NYSE:TPR traded up $0.30 during mid-day trading on Friday, hitting $38.23. 3,299,404 shares of the company’s stock traded hands, compared to its average volume of 3,327,844. The company has a debt-to-equity ratio of 2.77, a quick ratio of 5.98 and a current ratio of 6.59. The firm’s 50 day simple moving average is $41.28 and its 200 day simple moving average is $42.55. Tapestry has a 1 year low of $25.99 and a 1 year high of $48.80. The company has a market cap of $8.78 billion, a PE ratio of 10.11, a price-to-earnings-growth ratio of 0.79 and a beta of 1.59.

Tapestry (NYSE:TPR) last issued its quarterly earnings data on Thursday, May 9th. The luxury accessories retailer reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.14. The business had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Tapestry had a net margin of 13.15% and a return on equity of 39.78%. The company’s revenue was down 2.0% on a year-over-year basis. During the same period last year, the company posted $0.78 EPS. Sell-side analysts expect that Tapestry will post 4.24 EPS for the current year.

Insider Buying and Selling

In other Tapestry news, VP Manesh Dadlani sold 2,500 shares of the stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $42.23, for a total value of $105,575.00. Following the completion of 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.93% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of TPR. Asset Management One Co. Ltd. increased its holdings in 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 worth $1,083,000 after purchasing an additional 3,425 shares during the last quarter. International Assets Investment Management LLC increased its holdings in Tapestry by 3,326.2% during 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 purchasing an additional 108,100 shares during the last quarter. Allworth Financial LP increased its stake in shares of Tapestry by 62.0% in the fourth quarter. Allworth Financial LP now owns 1,620 shares of the luxury accessories retailer’s stock worth $60,000 after buying an additional 620 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Tapestry by 71.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 86,066 shares of the luxury accessories retailer’s stock worth $3,168,000 after buying an additional 35,991 shares during the last quarter. Finally, Sequoia Financial Advisors LLC bought a new stake in shares of Tapestry in the fourth quarter worth $218,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

About Tapestry

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.