Robert W. Baird Issues Positive Forecast for Tapestry (NYSE:TPR) Stock Price

Tapestry (NYSE:TPR) had its price objective upped by equities researchers at Robert W. Baird from $93.00 to $100.00 in a report released on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the luxury accessories retailer’s stock. Robert W. Baird’s price objective would suggest a potential upside of 12.15% from the stock’s current price.

TPR has been the topic of a number of other reports. Evercore ISI boosted their price target on shares of Tapestry from $68.00 to $74.00 and gave the stock an “outperform” rating in a research report on Monday, January 27th. Redburn Atlantic upgraded Tapestry from a “neutral” rating to a “buy” rating and set a $110.00 target price for the company in a research report on Tuesday. Citigroup lifted their price target on Tapestry from $49.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Raymond James restated an “outperform” rating and issued a $88.00 price objective (up previously from $79.00) on shares of Tapestry in a report on Friday, February 7th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $65.00 target price on shares of Tapestry in a report on Tuesday, January 21st. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $78.53.

Tapestry Price Performance

NYSE TPR opened at $89.16 on Thursday. The company has a 50-day moving average price of $71.70 and a two-hundred day moving average price of $55.93. Tapestry has a 52 week low of $35.23 and a 52 week high of $90.85. The stock has a market cap of $18.46 billion, a price-to-earnings ratio of 25.84, a price-to-earnings-growth ratio of 2.03 and a beta of 1.58. The company has a current ratio of 1.58, a quick ratio of 1.05 and a debt-to-equity ratio of 1.78.

Tapestry (NYSE:TPR) last announced its earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.30. Tapestry had a return on equity of 44.00% and a net margin of 11.74%. During the same quarter in the prior year, the company posted $1.63 EPS. Analysts forecast that Tapestry will post 4.91 EPS for the current year.

Institutional Trading of Tapestry

A number of hedge funds have recently modified their holdings of the business. Victory Capital Management Inc. lifted its stake in Tapestry by 7.5% in the 3rd quarter. Victory Capital Management Inc. now owns 433,825 shares of the luxury accessories retailer’s stock worth $20,381,000 after acquiring an additional 30,121 shares in the last quarter. Apollon Wealth Management LLC acquired a new position in shares of Tapestry in the 4th quarter valued at about $328,000. Assenagon Asset Management S.A. purchased a new stake in shares of Tapestry in the third quarter worth approximately $5,446,000. Valley Wealth Managers Inc. boosted its holdings in shares of Tapestry by 2.1% during the third quarter. Valley Wealth Managers Inc. now owns 425,105 shares of the luxury accessories retailer’s stock worth $19,971,000 after purchasing an additional 8,833 shares during the period. Finally, Decker Retirement Planning Inc. purchased a new position in Tapestry during the fourth quarter valued at approximately $3,437,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

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.