Tapestry (NYSE:TPR) Upgraded at Zacks Research

Tapestry (NYSE:TPR) was upgraded by investment analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Monday,Zacks.com reports.

Several other equities analysts have also commented on the company. Telsey Advisory Group increased their price objective on Tapestry to $150.00 and gave the company an “outperform” rating in a research report on Thursday, February 5th. Evercore boosted their price objective on shares of Tapestry from $129.00 to $150.00 and gave the stock an “outperform” rating in a report on Tuesday, February 3rd. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $170.00 price objective on shares of Tapestry in a research note on Friday. TD Cowen reiterated a “buy” rating on shares of Tapestry in a research report on Tuesday. Finally, BTIG Research boosted their price target on shares of Tapestry from $140.00 to $175.00 and gave the stock a “buy” rating in a research note on Friday, February 6th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $143.33.

Tapestry Stock Performance

Tapestry stock opened at $152.88 on Monday. The firm’s fifty day moving average price is $129.14 and its 200-day moving average price is $115.64. The company has a debt-to-equity ratio of 4.32, a quick ratio of 1.10 and a current ratio of 1.63. The stock has a market cap of $30.95 billion, a P/E ratio of 63.17, a price-to-earnings-growth ratio of 2.39 and a beta of 1.63. Tapestry has a fifty-two week low of $58.39 and a fifty-two week high of $157.00.

Tapestry (NYSE:TPR) last announced its earnings results on Thursday, February 5th. The luxury accessories retailer reported $2.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.20 by $0.49. The company had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.29 billion. Tapestry had a net margin of 6.95% and a return on equity of 157.98%. The firm’s quarterly revenue was up 14.0% compared to the same quarter last year. During the same period in the previous year, the business earned $2.00 earnings per share. Tapestry has set its FY 2026 guidance at 6.400-6.450 EPS. On average, equities research analysts expect that Tapestry will post 4.91 earnings per share for the current fiscal year.

Tapestry announced that its board has approved a stock repurchase program on Thursday, November 6th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the luxury accessories retailer to buy up to 4.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity

In related news, insider David E. Howard sold 25,029 shares of the firm’s stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $102.50, for a total transaction of $2,565,472.50. Following the completion of the transaction, the insider owned 55,354 shares of the company’s stock, valued at $5,673,785. This trade represents a 31.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Denise Kulikowsky sold 583 shares of Tapestry stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $115.17, for a total value of $67,144.11. Following the transaction, the insider owned 19,285 shares of the company’s stock, valued at $2,221,053.45. The trade was a 2.93% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 115,485 shares of company stock valued at $12,034,058. 1.32% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Tapestry

Several large investors have recently bought and sold shares of TPR. Northwest Wealth Management LLC grew its position in Tapestry by 3.4% in the 4th quarter. Northwest Wealth Management LLC now owns 2,462 shares of the luxury accessories retailer’s stock worth $315,000 after purchasing an additional 82 shares during the period. Fulton Bank N.A. increased its holdings in Tapestry by 2.8% in the 4th quarter. Fulton Bank N.A. now owns 3,166 shares of the luxury accessories retailer’s stock worth $405,000 after acquiring an additional 87 shares in the last quarter. CVA Family Office LLC raised its stake in Tapestry by 23.4% during the 4th quarter. CVA Family Office LLC now owns 469 shares of the luxury accessories retailer’s stock worth $60,000 after acquiring an additional 89 shares during the period. Convergence Financial LLC lifted its holdings in Tapestry by 3.0% during the second quarter. Convergence Financial LLC now owns 3,386 shares of the luxury accessories retailer’s stock valued at $297,000 after purchasing an additional 98 shares in the last quarter. Finally, Clark Financial Services Group Inc. BD lifted its holdings in Tapestry by 1.8% during the fourth quarter. Clark Financial Services Group Inc. BD now owns 5,701 shares of the luxury accessories retailer’s stock valued at $733,000 after purchasing an additional 103 shares in the last quarter. 90.77% of the stock is currently owned by institutional investors.

About Tapestry

Tapestry, Inc is a New York City–based house of fashion brands that designs, produces and distributes a range of accessible luxury and lifestyle products. The company manages a portfolio led by Coach, along with Kate Spade New York and Stuart Weitzman, each offering distinct product lines that include handbags and leather goods, footwear, ready-to-wear apparel, accessories, small leather goods, jewelry and lifestyle items. Tapestry’s operations encompass product design, marketing, wholesale partnerships, retail store operations and digital commerce.

Historically, the Coach brand traces its roots to a leather workshop in New York dating to the mid-20th century.