Telsey Advisory Group Boosts Tapestry (NYSE:TPR) Price Target to $67.00

Tapestry (NYSE:TPR) had its price objective raised by equities research analysts at Telsey Advisory Group from $58.00 to $67.00 in a report issued on Friday,Briefing.com Automated Import reports. The brokerage presently has an “outperform” rating on the luxury accessories retailer’s stock. Telsey Advisory Group’s price target indicates a potential upside of 15.88% from the company’s previous close.

TPR has been the topic of several other reports. The Goldman Sachs Group raised their target price on Tapestry from $47.00 to $52.00 and gave the company a “buy” rating in a research report on Monday, October 21st. TD Cowen cut Tapestry from a “buy” rating to a “hold” rating and set a $52.00 target price for the company. in a research note on Tuesday, October 29th. Wells Fargo & Company lifted their target price on Tapestry from $50.00 to $65.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Raymond James reissued an “outperform” rating and issued a $57.00 target price (up from $55.00) on shares of Tapestry in a research report on Friday, November 8th. Finally, UBS Group dropped their price target on Tapestry from $42.00 to $40.00 and set a “neutral” rating on the stock in a research report on Friday, August 16th. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, Tapestry has a consensus rating of “Moderate Buy” and a consensus price target of $54.87.

Tapestry Stock Up 12.8 %

TPR stock opened at $57.82 on Friday. The company has a market capitalization of $13.47 billion, a P/E ratio of 16.71, a PEG ratio of 1.78 and a beta of 1.53. The firm has a 50 day simple moving average of $46.21 and a 200-day simple moving average of $42.83. The company has a current ratio of 4.93, a quick ratio of 4.38 and a debt-to-equity ratio of 2.35. Tapestry has a twelve month low of $29.83 and a twelve month high of $58.49.

Tapestry (NYSE:TPR) last announced its quarterly earnings data on Thursday, August 15th. The luxury accessories retailer reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.04. The firm had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.58 billion. Tapestry had a return on equity of 36.26% and a net margin of 12.12%. The firm’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same period last year, the business posted $0.95 earnings per share. On average, equities research analysts predict that Tapestry will post 4.54 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tapestry

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Waldron Private Wealth LLC acquired a new position in Tapestry in the third quarter worth about $25,000. Massmutual Trust Co. FSB ADV lifted its position in shares of Tapestry by 54.0% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 935 shares of the luxury accessories retailer’s stock worth $40,000 after buying an additional 328 shares during the period. Brooklyn Investment Group bought a new stake in Tapestry in the third quarter valued at $47,000. Blue Trust Inc. raised its stake in Tapestry by 111.9% during the second quarter. Blue Trust Inc. now owns 1,053 shares of the luxury accessories retailer’s stock worth $50,000 after acquiring an additional 556 shares in the last quarter. Finally, MUFG Securities EMEA plc grew its holdings in shares of Tapestry by 34.9% in the 2nd quarter. MUFG Securities EMEA plc now owns 1,226 shares of the luxury accessories retailer’s stock worth $52,000 after purchasing an additional 317 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors.

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.