Tapestry (NYSE:TPR – Get Free Report) had its price target boosted by equities researchers at Citigroup from $49.00 to $55.00 in a research report issued on Friday, Benzinga reports. The firm currently has a “buy” rating on the luxury accessories retailer’s stock. Citigroup’s target price would indicate a potential upside of 9.89% from the company’s current price.
Other analysts also recently issued research reports about the stock. Wells Fargo & Company increased their target price on shares of Tapestry from $50.00 to $65.00 and gave the company an “overweight” rating in a report on Friday. UBS Group reduced their target price on Tapestry from $42.00 to $40.00 and set a “neutral” rating for the company in a report on Friday, August 16th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $54.00 price target on shares of Tapestry in a research report on Thursday, August 15th. StockNews.com raised Tapestry from a “hold” rating to a “buy” rating in a research report on Wednesday, September 25th. Finally, Evercore ISI raised their target price on Tapestry from $47.00 to $63.00 and gave the company an “outperform” rating in a research report on Friday. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $51.73.
Read Our Latest Stock Report on TPR
Tapestry Stock Up 12.5 %
Tapestry (NYSE:TPR – Get Free Report) last announced its quarterly earnings results on Thursday, August 15th. The luxury accessories retailer reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.04. The business had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.58 billion. Tapestry had a net margin of 12.23% and a return on equity of 37.22%. The firm’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.95 EPS. On average, equities analysts expect that Tapestry will post 4.47 earnings per share for the current year.
Institutional Investors Weigh In On Tapestry
Institutional investors have recently made changes to their positions in the stock. abrdn plc lifted its holdings in Tapestry by 4.7% during the 3rd quarter. abrdn plc now owns 39,127 shares of the luxury accessories retailer’s stock worth $1,840,000 after purchasing an additional 1,756 shares in the last quarter. Pallas Capital Advisors LLC boosted its position in shares of Tapestry by 196.7% in the third quarter. Pallas Capital Advisors LLC now owns 17,195 shares of the luxury accessories retailer’s stock valued at $765,000 after acquiring an additional 11,399 shares during the period. Nisa Investment Advisors LLC grew its stake in Tapestry by 23.2% during the third quarter. Nisa Investment Advisors LLC now owns 67,622 shares of the luxury accessories retailer’s stock valued at $3,177,000 after acquiring an additional 12,752 shares in the last quarter. OMNI 360 Wealth Inc. increased its holdings in Tapestry by 12.6% during the 3rd quarter. OMNI 360 Wealth Inc. now owns 12,242 shares of the luxury accessories retailer’s stock worth $575,000 after acquiring an additional 1,372 shares during the period. Finally, State of Alaska Department of Revenue grew its position in shares of Tapestry by 7.3% during the 3rd quarter. State of Alaska Department of Revenue now owns 26,701 shares of the luxury accessories retailer’s stock valued at $1,254,000 after purchasing an additional 1,815 shares in the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.
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.
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