Tapestry (NYSE:TPR) Stock Price Expected to Rise, UBS Group Analyst Says

Tapestry (NYSE:TPR) had its price objective boosted by equities research analysts at UBS Group from $70.00 to $80.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the luxury accessories retailer’s stock. UBS Group’s target price would indicate a potential downside of 1.34% from the stock’s previous close.

A number of other equities research analysts have also recently weighed in on TPR. Daiwa America raised Tapestry to a “hold” rating in a report on Monday, November 18th. StockNews.com cut Tapestry from a “buy” rating to a “hold” rating in a report on Monday, October 28th. Telsey Advisory Group raised their price objective on shares of Tapestry from $74.00 to $83.00 and gave the company an “outperform” rating in a research report on Monday. JPMorgan Chase & Co. increased their price target on shares of Tapestry from $66.00 to $75.00 and gave the company an “overweight” rating in a research note on Monday, December 16th. Finally, Robert W. Baird upped their price objective on Tapestry from $58.00 to $64.00 and gave the stock an “outperform” rating in a report on Friday, November 15th. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $67.83.

Tapestry Price Performance

TPR stock traded down $1.12 during trading on Friday, hitting $81.08. The company had a trading volume of 2,008,349 shares, compared to its average volume of 4,816,996. 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 company has a fifty day moving average price of $67.72 and a two-hundred day moving average price of $53.01. Tapestry has a fifty-two week low of $35.23 and a fifty-two week high of $87.87. The company has a market cap of $18.90 billion, a P/E ratio of 23.39, a P/E/G ratio of 2.07 and a beta of 1.58.

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, topping analysts’ consensus estimates of $1.70 by $0.30. Tapestry had a net margin of 12.12% and a return on equity of 36.26%. During the same quarter in the previous year, the company posted $1.63 earnings per share. Equities research analysts expect that Tapestry will post 4.63 earnings per share for the current fiscal year.

Insider Activity

In other Tapestry news, VP Manesh Dadlani sold 8,872 shares of the firm’s stock in a transaction that occurred 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 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.18% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in TPR. Waldron Private Wealth LLC purchased a new position in shares of Tapestry in the 3rd quarter worth about $25,000. Venturi Wealth Management LLC lifted its holdings in Tapestry by 78.0% during the 4th quarter. Venturi Wealth Management LLC now owns 575 shares of the luxury accessories retailer’s stock worth $38,000 after purchasing an additional 252 shares in the last quarter. Brooklyn Investment Group bought a new position in shares of Tapestry in the third quarter valued at approximately $47,000. Deseret Mutual Benefit Administrators grew 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 worth $70,000 after buying an additional 605 shares in the last quarter. Finally, Transamerica Financial Advisors Inc. raised its stake in Tapestry by 159,100.0% in the third quarter. Transamerica Financial Advisors Inc. now owns 1,592 shares of the luxury accessories retailer’s stock valued at $75,000 after purchasing an additional 1,591 shares in the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

About Tapestry

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.