Tapestry, Inc. (NYSE:TPR) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Tapestry, Inc. (NYSE:TPR) have been assigned a consensus recommendation of “Moderate Buy” from the eighteen research firms that are presently covering the firm, Marketbeat Ratings reports. Five analysts have rated the stock with a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $67.28.

Several analysts have issued reports on the company. JPMorgan Chase & Co. increased their target price on Tapestry from $66.00 to $75.00 and gave the company an “overweight” rating in a research report on Monday, December 16th. Raymond James reissued an “outperform” rating and issued a $57.00 price objective (up previously from $55.00) on shares of Tapestry in a research report on Friday, November 8th. Morgan Stanley reissued an “equal weight” rating and issued a $65.00 price objective on shares of Tapestry in a research report on Tuesday, January 21st. Evercore ISI raised their price objective on Tapestry from $68.00 to $74.00 and gave the stock an “outperform” rating in a research report on Monday, January 27th. Finally, TD Cowen cut Tapestry from a “buy” rating to a “hold” rating and set a $52.00 price objective for the company. in a research report on Tuesday, October 29th.

Insider Buying and Selling at Tapestry

In other Tapestry news, VP Manesh Dadlani sold 8,872 shares of Tapestry stock in a transaction dated Friday, November 15th. The stock was 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 in the company, valued at approximately $2,028,773.88. This trade represents a 20.22 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 1.18% of the company’s stock.

Hedge Funds Weigh In On Tapestry

Institutional investors have recently modified their holdings of the stock. Waldron Private Wealth LLC purchased a new position in shares of Tapestry in the 3rd quarter valued at about $25,000. Venturi Wealth Management LLC increased its stake in shares of Tapestry by 78.0% in the 4th quarter. Venturi Wealth Management LLC now owns 575 shares of the luxury accessories retailer’s stock valued at $38,000 after purchasing an additional 252 shares in the last quarter. Brooklyn Investment Group purchased a new position in shares of Tapestry in the 3rd quarter valued at about $47,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Tapestry in the 2nd quarter valued at about $68,000. Finally, Deseret Mutual Benefit Administrators increased its stake in shares of Tapestry by 68.2% in the 3rd quarter. Deseret Mutual Benefit Administrators now owns 1,492 shares of the luxury accessories retailer’s stock valued at $70,000 after purchasing an additional 605 shares in the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Tapestry Stock Up 11.8 %

Shares of NYSE TPR opened at $82.07 on Friday. The company has a current ratio of 4.93, a quick ratio of 4.38 and a debt-to-equity ratio of 2.35. The stock has a market capitalization of $19.13 billion, a PE ratio of 23.72, a price-to-earnings-growth ratio of 2.07 and a beta of 1.58. The stock’s fifty day simple moving average is $67.72 and its two-hundred day simple moving average is $53.01. Tapestry has a 12-month low of $35.23 and a 12-month high of $87.87.

Tapestry (NYSE:TPR) last announced its earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.70 by $0.30. Tapestry had a return on equity of 36.26% and a net margin of 12.12%. During the same quarter in the previous year, the firm posted $1.63 EPS. As a group, analysts expect that Tapestry will post 4.63 EPS for the current fiscal year.

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.