Tapestry (NYSE:TPR) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Tapestry (NYSE:TPR) had its price objective upped by JPMorgan Chase & Co. from $88.00 to $104.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the luxury accessories retailer’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 24.45% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on the stock. Jefferies Financial Group raised their price target on shares of Tapestry from $80.00 to $83.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. Evercore ISI boosted their target price on shares of Tapestry from $68.00 to $74.00 and gave the stock an “outperform” rating in a research note on Monday, January 27th. BMO Capital Markets increased their price target on Tapestry from $55.00 to $60.00 and gave the company a “market perform” rating in a research note on Monday, November 18th. Guggenheim boosted their price objective on Tapestry from $70.00 to $90.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Finally, Barclays increased their target price on Tapestry from $87.00 to $100.00 and gave the company an “overweight” rating in a research report on Friday, February 7th. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $74.78.

Tapestry Stock Up 2.7 %

TPR stock opened at $83.57 on Wednesday. Tapestry has a 52 week low of $35.23 and a 52 week high of $87.87. The business has a 50-day simple moving average of $68.71 and a 200 day simple moving average of $54.02. The company has a quick ratio of 4.38, a current ratio of 1.58 and a debt-to-equity ratio of 1.78. The company has a market cap of $19.47 billion, a PE ratio of 24.29, a price-to-earnings-growth ratio of 2.30 and a beta of 1.58.

Tapestry (NYSE:TPR) last released its earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share 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 in the previous year, the firm earned $1.63 earnings per share. Sell-side analysts anticipate that Tapestry will post 4.7 EPS for the current fiscal year.

Insider Buying and Selling

In related news, VP Manesh Dadlani sold 8,872 shares of the stock in a transaction 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 completion of the sale, the vice president now directly owns 35,003 shares of the company’s stock, valued at approximately $2,028,773.88. This represents a 20.22 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.18% of the stock is owned by company insiders.

Institutional Trading of Tapestry

Several institutional investors have recently made changes to their positions in TPR. Charles Schwab Investment Management Inc. grew its position in Tapestry by 5.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,997,414 shares of the luxury accessories retailer’s stock worth $522,471,000 after purchasing an additional 382,856 shares in the last quarter. Pacer Advisors Inc. boosted its stake in shares of Tapestry by 1.0% in the 3rd quarter. Pacer Advisors Inc. now owns 6,078,760 shares of the luxury accessories retailer’s stock worth $285,580,000 after buying an additional 58,135 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Tapestry by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 5,588,879 shares of the luxury accessories retailer’s stock worth $262,156,000 after purchasing an additional 80,681 shares during the period. Allianz Asset Management GmbH boosted its holdings in shares of Tapestry by 16.4% in the 4th quarter. Allianz Asset Management GmbH now owns 2,121,469 shares of the luxury accessories retailer’s stock worth $138,596,000 after buying an additional 298,409 shares during the last quarter. Finally, Norges Bank bought a new position in Tapestry during the fourth quarter valued at about $114,199,000. 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.