Tapestry, Inc. (NYSE:TPR) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Tapestry, Inc. (NYSE:TPR) have been assigned a consensus recommendation of “Moderate Buy” from the eighteen ratings firms that are currently covering the firm, MarketBeat.com reports. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $67.28.

TPR has been the subject of a number of recent analyst reports. Morgan Stanley reaffirmed an “equal weight” rating and issued a $65.00 price objective on shares of Tapestry in a research note on Tuesday, January 21st. Evercore ISI increased their price target on Tapestry from $68.00 to $74.00 and gave the company an “outperform” rating in a research note on Monday, January 27th. Wells Fargo & Company increased their price target on Tapestry from $75.00 to $90.00 and gave the company an “overweight” rating in a research note on Monday. TD Cowen lowered Tapestry from a “buy” rating to a “hold” rating and set a $52.00 price target for the company. in a research note on Tuesday, October 29th. Finally, The Goldman Sachs Group increased their price target on Tapestry from $58.00 to $66.00 and gave the company a “buy” rating in a research note on Friday, November 15th.

Tapestry Stock Performance

NYSE TPR opened at $82.07 on Friday. The firm has a market cap of $19.13 billion, a price-to-earnings ratio of 23.72, a price-to-earnings-growth ratio of 2.07 and a beta of 1.58. 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 business has a 50-day moving average price of $67.72 and a 200-day moving average price of $53.01. Tapestry has a twelve month low of $35.23 and a twelve month high of $87.87.

Tapestry (NYSE:TPR) last released its quarterly earnings data on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share for the quarter, topping analysts’ consensus estimates of $1.70 by $0.30. Tapestry had a return on equity of 36.26% and a net margin of 12.12%. During the same period last year, the business earned $1.63 earnings per share. As a group, equities research analysts predict that Tapestry will post 4.63 EPS for the current fiscal year.

Insider Transactions at Tapestry

In other news, VP Manesh Dadlani sold 8,872 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $57.96, for a total value of $514,221.12. Following the sale, the vice president now directly owns 35,003 shares in the company, valued at approximately $2,028,773.88. This represents a 20.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.18% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of TPR. Waldron Private Wealth LLC purchased a new position in Tapestry during the 3rd quarter worth $25,000. Venturi Wealth Management LLC increased 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 during the period. Brooklyn Investment Group purchased a new position in Tapestry during the 3rd quarter worth $47,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Tapestry during the 2nd quarter worth $68,000. Finally, Deseret Mutual Benefit Administrators increased its holdings in Tapestry by 68.2% during the 3rd quarter. Deseret Mutual Benefit Administrators now owns 1,492 shares of the luxury accessories retailer’s stock worth $70,000 after purchasing an additional 605 shares during the period. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

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.