Robert W. Baird Analysts Give Tapestry Inc (TPR) a $49.00 Price Target

Tapestry Inc (AMEX:TPR) has been assigned a $49.00 price objective by investment analysts at Robert W. Baird in a note issued to investors on Tuesday, October 17th. The firm currently has a “buy” rating on the stock. Robert W. Baird’s price target would indicate a potential upside of 18.64% from the company’s previous close.

Other analysts have also recently issued reports about the stock. Jefferies Group LLC set a $53.00 price target on shares of Tapestry and gave the company a “buy” rating in a research note on Tuesday, July 4th. Oppenheimer Holdings, Inc. reissued a “buy” rating on shares of Tapestry in a research note on Tuesday, July 4th. Goldman Sachs Group, Inc. (The) raised shares of Tapestry to a “buy” rating in a research note on Saturday, July 1st. Deutsche Bank AG raised shares of Tapestry to a “buy” rating in a research note on Saturday, July 1st. Finally, Canaccord Genuity started coverage on shares of Tapestry in a report on Friday, June 30th. They issued a “buy” rating and a $59.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty-two have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $47.61.

Tapestry (TPR) traded up $0.15 on Tuesday, hitting $41.30. 4,120,000 shares of the stock traded hands, compared to its average volume of 2,970,000. Tapestry has a twelve month low of $34.16 and a twelve month high of $48.85.

Tapestry (AMEX:TPR) last released its quarterly earnings results on Tuesday, August 15th. The company reported $0.50 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.01. Tapestry had a net margin of 13.38% and a return on equity of 20.65%. The business had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same period in the prior year, the firm earned $0.45 earnings per share. Tapestry’s revenue was down 1.8% compared to the same quarter last year.

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In other news, CAO Todd Kahn sold 4,586 shares of Tapestry stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $40.85, for a total value of $187,338.10. Following the completion of the transaction, the chief accounting officer now owns 72,412 shares of the company’s stock, valued at approximately $2,958,030.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Melinda Brown sold 8,250 shares of Tapestry stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $41.28, for a total transaction of $340,560.00. Following the completion of the transaction, the senior vice president now directly owns 42,884 shares of the company’s stock, valued at approximately $1,770,251.52. The disclosure for this sale can be found here.

Tapestry Company Profile

Tapestry, Inc, formerly Coach, Inc, is a design house of luxury accessories and lifestyle collections. The Company’s product offering uses a range of leathers, fabrics and materials. The Company’s brands include Coach, Kate Spade, and Stuart Weitzman. Its segments include North America, International and Stuart Weitzman.

Analyst Recommendations for Tapestry (AMEX:TPR)

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