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

Tapestry (NYSE:TPR)‘s stock had its “outperform” rating reissued by investment analysts at Telsey Advisory Group in a research report issued to clients and investors on Thursday, Benzinga reports. They currently have a $54.00 price target on the luxury accessories retailer’s stock. Telsey Advisory Group’s price target would suggest a potential upside of 3.85% from the company’s previous close.

A number of other analysts have also weighed in on the company. The Goldman Sachs Group increased their target price on Tapestry from $47.00 to $52.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Bank of America lifted their price objective on shares of Tapestry from $52.00 to $60.00 and gave the company a “buy” rating in a report on Friday, October 25th. TD Cowen downgraded shares of Tapestry from a “buy” rating to a “hold” rating and set a $52.00 target price on the stock. in a research note on Tuesday, October 29th. UBS Group reduced their target price on shares of Tapestry from $42.00 to $40.00 and set a “neutral” rating on the stock in a research report on Friday, August 16th. Finally, StockNews.com lowered Tapestry from a “buy” rating to a “hold” rating in a report on Monday, October 28th. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.75.

Tapestry Price Performance

Tapestry stock opened at $52.00 on Thursday. Tapestry has a 12-month low of $27.20 and a 12-month high of $52.00. The company has a current ratio of 5.14, a quick ratio of 4.66 and a debt-to-equity ratio of 2.39. The firm has a 50-day moving average price of $44.83 and a 200-day moving average price of $42.32. The firm has a market capitalization of $12.10 billion, a PE ratio of 14.81, a price-to-earnings-growth ratio of 1.75 and a beta of 1.53.

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

Institutional Trading of Tapestry

Several hedge funds have recently modified their holdings of TPR. Lebenthal Global Advisors LLC grew its position in shares of Tapestry by 2.8% in the 3rd quarter. Lebenthal Global Advisors LLC now owns 7,813 shares of the luxury accessories retailer’s stock worth $367,000 after buying an additional 215 shares during the last quarter. OneDigital Investment Advisors LLC increased its position in shares of Tapestry by 3.0% during the third quarter. OneDigital Investment Advisors LLC now owns 7,520 shares of the luxury accessories retailer’s stock worth $353,000 after purchasing an additional 218 shares in the last quarter. Mather Group LLC. lifted its holdings in shares of Tapestry by 12.9% during the 2nd quarter. Mather Group LLC. now owns 2,181 shares of the luxury accessories retailer’s stock valued at $104,000 after purchasing an additional 249 shares during the last quarter. Legend Financial Advisors Inc. boosted its position in shares of Tapestry by 1.9% in the 2nd quarter. Legend Financial Advisors Inc. now owns 13,570 shares of the luxury accessories retailer’s stock worth $581,000 after purchasing an additional 257 shares in the last quarter. Finally, Empirical Finance LLC grew its stake in Tapestry by 3.3% during the 1st quarter. Empirical Finance LLC now owns 8,742 shares of the luxury accessories retailer’s stock worth $415,000 after buying an additional 276 shares during the last quarter. 90.77% of the stock is 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.