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

Tapestry (NYSE:TPR) had its price objective boosted by stock analysts at Telsey Advisory Group from $58.00 to $67.00 in a research report issued to clients and investors on Friday,Briefing.com Automated Import reports. The firm presently has an “outperform” rating on the luxury accessories retailer’s stock. Telsey Advisory Group’s price objective would indicate a potential upside of 15.88% from the company’s current price.

Other equities analysts have also issued research reports about the company. StockNews.com lowered Tapestry from a “buy” rating to a “hold” rating in a research note on Monday, October 28th. The Goldman Sachs Group increased their target price on Tapestry from $47.00 to $52.00 and gave the stock a “buy” rating in a report on Monday, October 21st. TD Cowen downgraded shares of Tapestry from a “buy” rating to a “hold” rating and set a $52.00 price objective on the stock. in a report on Tuesday, October 29th. Robert W. Baird lifted their target price on Tapestry from $53.00 to $58.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Finally, Citigroup boosted their target price on shares of Tapestry from $49.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.87.

Tapestry Stock Up 12.8 %

Shares of NYSE TPR opened at $57.82 on Friday. The company has a quick ratio of 4.38, a current ratio of 4.93 and a debt-to-equity ratio of 2.35. The company has a market cap of $13.47 billion, a price-to-earnings ratio of 16.71, a price-to-earnings-growth ratio of 1.78 and a beta of 1.53. Tapestry has a 12-month low of $29.83 and a 12-month high of $58.49. The firm’s 50-day simple moving average is $46.21 and its 200 day simple moving average is $42.83.

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

Institutional Trading of Tapestry

Large investors have recently modified their holdings of the stock. Waldron Private Wealth LLC bought a new stake in shares of Tapestry during the 3rd quarter worth $25,000. Massmutual Trust Co. FSB ADV raised its holdings in Tapestry by 54.0% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 935 shares of the luxury accessories retailer’s stock valued at $40,000 after buying an additional 328 shares during the last quarter. Brooklyn Investment Group bought a new position in shares of Tapestry during the third quarter valued at $47,000. Blue Trust Inc. lifted its stake in shares of Tapestry by 111.9% in 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 during the period. Finally, MUFG Securities EMEA plc lifted its holdings in Tapestry by 34.9% in the second quarter. MUFG Securities EMEA plc now owns 1,226 shares of the luxury accessories retailer’s stock valued at $52,000 after buying an additional 317 shares during the period. 90.77% of the stock is 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.