Tapestry (NYSE:TPR) Earns Outperform Rating from Telsey Advisory Group

Tapestry (NYSE:TPR)‘s stock had its “outperform” rating restated by analysts at Telsey Advisory Group in a research report issued to clients and investors on Thursday,Benzinga reports. They presently have a $54.00 price target on the luxury accessories retailer’s stock. Telsey Advisory Group’s price target would indicate a potential upside of 3.41% from the stock’s previous close.

Several other research firms have also issued reports on TPR. TD Cowen lowered Tapestry from a “buy” rating to a “hold” rating and set a $52.00 price objective for the company. in a research note on Tuesday, October 29th. Citigroup lifted their price objective on shares of Tapestry from $49.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. The Goldman Sachs Group increased their target price on shares of Tapestry from $47.00 to $52.00 and gave the company a “buy” rating in a research note on Monday, October 21st. StockNews.com cut shares of Tapestry from a “buy” rating to a “hold” rating in a research note on Monday, October 28th. Finally, UBS Group cut their price target on shares of Tapestry from $42.00 to $40.00 and set a “neutral” rating on the stock in a report on Friday, August 16th. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $53.06.

Tapestry Stock Up 1.3 %

Shares of TPR opened at $52.22 on Thursday. The business’s 50 day simple moving average is $45.28 and its 200-day simple moving average is $42.47. Tapestry has a 1 year low of $27.55 and a 1 year high of $52.50. The company has a debt-to-equity ratio of 2.39, a current ratio of 5.14 and a quick ratio of 4.66. The stock has a market capitalization of $12.16 billion, a price-to-earnings ratio of 15.09, a price-to-earnings-growth ratio of 1.81 and a beta of 1.53.

Tapestry (NYSE:TPR) last issued its quarterly earnings data on Thursday, August 15th. The luxury accessories retailer reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.04. The business had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.58 billion. Tapestry had a net margin of 12.23% and a return on equity of 37.22%. The business’s revenue was down 1.8% on a year-over-year basis. During the same period last year, the company posted $0.95 EPS. As a group, equities analysts expect that Tapestry will post 4.46 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tapestry

Institutional investors have recently made changes to their positions in the company. Waldron Private Wealth LLC purchased a new position in Tapestry during the 3rd quarter valued at about $25,000. Massmutual Trust Co. FSB ADV raised its stake in Tapestry by 54.0% in the second 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 in the last quarter. Blue Trust Inc. lifted its holdings 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 buying an additional 556 shares during the period. MUFG Securities EMEA plc boosted its position in Tapestry by 34.9% during the 2nd quarter. MUFG Securities EMEA plc now owns 1,226 shares of the luxury accessories retailer’s stock valued at $52,000 after acquiring an additional 317 shares in the last quarter. Finally, Chilton Capital Management LLC purchased a new position in shares of Tapestry in the 2nd quarter valued at $53,000. Hedge funds and other 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.