Jefferies Financial Group Forecasts Strong Price Appreciation for Tapestry (NYSE:TPR) Stock

Tapestry (NYSE:TPR) had its price objective boosted by investment analysts at Jefferies Financial Group from $80.00 to $83.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the luxury accessories retailer’s stock. Jefferies Financial Group’s price objective indicates a potential upside of 12.48% from the company’s previous close.

A number of other research analysts have also issued reports on TPR. The Goldman Sachs Group increased their target price on shares of Tapestry from $58.00 to $66.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. TD Cowen downgraded Tapestry from a “buy” rating to a “hold” rating and set a $52.00 target price for the company. in a research report on Tuesday, October 29th. Bank of America raised their price target on Tapestry from $52.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. UBS Group increased their price objective on shares of Tapestry from $57.00 to $70.00 and gave the stock a “neutral” rating in a research note on Friday, January 10th. Finally, Barclays upgraded shares of Tapestry from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $57.00 to $87.00 in a research report on Wednesday, January 8th. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $65.56.

Tapestry Stock Performance

Shares of TPR traded up $1.28 during midday trading on Tuesday, reaching $73.79. 3,408,722 shares of the stock were exchanged, compared to its average volume of 4,187,971. The company has a quick ratio of 4.38, a current ratio of 4.93 and a debt-to-equity ratio of 2.35. The stock’s 50 day simple moving average is $65.14 and its 200 day simple moving average is $51.33. Tapestry has a twelve month low of $35.23 and a twelve month high of $75.78. The company has a market cap of $17.20 billion, a P/E ratio of 21.33, a PEG ratio of 2.07 and a beta of 1.58.

Insider Activity at Tapestry

In other news, VP Manesh Dadlani sold 8,872 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $57.96, for a total transaction of $514,221.12. Following the completion of the transaction, the vice president now owns 35,003 shares of the company’s stock, valued at approximately $2,028,773.88. This trade represents a 20.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.18% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Waldron Private Wealth LLC bought a new position in shares of Tapestry during the third quarter worth about $25,000. Brooklyn Investment Group bought a new position in Tapestry during the third quarter worth $47,000. UMB Bank n.a. lifted its holdings in Tapestry by 72.9% in the fourth quarter. UMB Bank n.a. now owns 1,176 shares of the luxury accessories retailer’s stock valued at $77,000 after buying an additional 496 shares during the period. Deseret Mutual Benefit Administrators boosted its position in Tapestry by 68.2% during the third quarter. Deseret Mutual Benefit Administrators now owns 1,492 shares of the luxury accessories retailer’s stock valued at $70,000 after acquiring an additional 605 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Tapestry during the 2nd quarter worth about $68,000. 90.77% of the stock is owned by institutional investors.

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.