Tapestry (NYSE:TPR) Raised to “Buy” at StockNews.com

Tapestry (NYSE:TPR) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Monday.

A number of other brokerages have also issued reports on TPR. Redburn Atlantic raised shares of Tapestry from a “neutral” rating to a “buy” rating and set a $110.00 price target on the stock in a report on Tuesday, February 18th. Guggenheim increased their target price on shares of Tapestry from $70.00 to $90.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Evercore ISI boosted their price target on Tapestry from $68.00 to $74.00 and gave the company an “outperform” rating in a report on Monday, January 27th. The Goldman Sachs Group increased their price objective on Tapestry from $72.00 to $98.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Finally, UBS Group boosted their target price on Tapestry from $70.00 to $80.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. Five research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, Tapestry currently has an average rating of “Moderate Buy” and an average price target of $78.53.

Tapestry Trading Up 0.3 %

Shares of NYSE:TPR traded up $0.19 on Monday, reaching $70.44. 4,234,660 shares of the company traded hands, compared to its average volume of 3,994,497. Tapestry has a 52 week low of $35.23 and a 52 week high of $90.85. The company has a current ratio of 1.58, a quick ratio of 1.05 and a debt-to-equity ratio of 1.78. The business’s 50-day simple moving average is $77.63 and its 200 day simple moving average is $63.29. The stock has a market capitalization of $14.58 billion, a P/E ratio of 20.42, a price-to-earnings-growth ratio of 2.01 and a beta of 1.57.

Tapestry (NYSE:TPR) last posted its quarterly earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share (EPS) for the quarter, topping 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 last year, the business posted $1.63 EPS. As a group, equities analysts anticipate that Tapestry will post 4.91 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Scott A. Roe sold 25,727 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $86.56, for a total transaction of $2,226,929.12. Following the completion of the sale, the chief financial officer now owns 146,587 shares of the company’s stock, valued at $12,688,570.72. This trade represents a 14.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Todd Kahn sold 21,107 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $84.00, for a total transaction of $1,772,988.00. Following the completion of the transaction, the chief executive officer now owns 176,985 shares of the company’s stock, valued at approximately $14,866,740. The trade was a 10.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 66,537 shares of company stock valued at $5,730,589. 1.18% of the stock is currently owned by corporate insiders.

Institutional Trading of Tapestry

Institutional investors and hedge funds have recently modified their holdings of the business. Greenline Partners LLC purchased a new stake in shares of Tapestry during the fourth quarter valued at $29,000. Coppell Advisory Solutions LLC lifted its stake in Tapestry by 40.7% during the 4th quarter. Coppell Advisory Solutions LLC now owns 519 shares of the luxury accessories retailer’s stock valued at $34,000 after acquiring an additional 150 shares during the period. Venturi Wealth Management LLC boosted its holdings in shares of Tapestry by 78.0% during the 4th quarter. Venturi Wealth Management LLC now owns 575 shares of the luxury accessories retailer’s stock valued at $38,000 after acquiring an additional 252 shares during the last quarter. Canada Post Corp Registered Pension Plan bought a new stake in shares of Tapestry in the fourth quarter worth approximately $48,000. Finally, UMB Bank n.a. grew its stake in shares of Tapestry by 72.9% in the fourth quarter. UMB Bank n.a. now owns 1,176 shares of the luxury accessories retailer’s stock worth $77,000 after acquiring an additional 496 shares during the period. 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.