Tapestry (NYSE:TPR) Price Target Raised to $100.00 at Barclays

Tapestry (NYSE:TPR) had its target price increased by investment analysts at Barclays from $87.00 to $100.00 in a research report issued on Friday,Benzinga reports. The firm presently has an “overweight” rating on the luxury accessories retailer’s stock. Barclays‘s price target suggests a potential upside of 24.57% from the company’s current price.

Several other research firms have also weighed in on TPR. TD Cowen lowered shares of Tapestry from a “buy” rating to a “hold” rating and set a $52.00 price target for the company. in a research report on Tuesday, October 29th. Robert W. Baird increased their target price on shares of Tapestry from $58.00 to $64.00 and gave the stock an “outperform” rating in a research report on Friday, November 15th. The Goldman Sachs Group increased their target price on shares of Tapestry from $72.00 to $98.00 and gave the stock a “buy” rating in a research report on Friday. Wells Fargo & Company increased their target price on shares of Tapestry from $75.00 to $90.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, JPMorgan Chase & Co. increased their target price on shares of Tapestry from $66.00 to $75.00 and gave the stock an “overweight” rating in a research report on Monday, December 16th. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $73.17.

Tapestry Stock Down 2.3 %

Shares of TPR stock traded down $1.92 on Friday, hitting $80.28. The stock had a trading volume of 7,820,463 shares, compared to its average volume of 5,063,234. The stock has a market cap of $18.71 billion, a price-to-earnings ratio of 23.20, a price-to-earnings-growth ratio of 2.07 and a beta of 1.58. The business has a 50 day moving average of $67.72 and a 200 day moving average of $53.01. The company has a debt-to-equity ratio of 2.35, a current ratio of 4.93 and a quick ratio of 4.38. Tapestry has a 12-month low of $35.23 and a 12-month high of $87.87.

Tapestry (NYSE:TPR) last posted its quarterly earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.30. Tapestry had a net margin of 12.12% and a return on equity of 36.26%. During the same quarter last year, the company earned $1.63 earnings per share. As a group, analysts expect that Tapestry will post 4.63 EPS for the current year.

Insiders Place Their Bets

In related news, VP Manesh Dadlani sold 8,872 shares of Tapestry stock in a transaction on Friday, November 15th. The shares were sold at an average price of $57.96, for a total value of $514,221.12. Following the sale, the vice president now owns 35,003 shares in the company, valued at $2,028,773.88. The trade was a 20.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.18% of the company’s stock.

Institutional Investors Weigh In On Tapestry

Several hedge funds have recently added to or reduced their stakes in TPR. Waldron Private Wealth LLC bought a new position in shares of Tapestry during the third quarter valued at $25,000. Venturi Wealth Management LLC increased its position in Tapestry by 78.0% in the fourth quarter. Venturi Wealth Management LLC now owns 575 shares of the luxury accessories retailer’s stock worth $38,000 after buying an additional 252 shares in the last quarter. Brooklyn Investment Group purchased a new stake in Tapestry in the third quarter worth about $47,000. UMB Bank n.a. increased its position in 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 buying an additional 496 shares in the last quarter. Finally, Deseret Mutual Benefit Administrators boosted its stake in shares of Tapestry by 68.2% in the third quarter. Deseret Mutual Benefit Administrators now owns 1,492 shares of the luxury accessories retailer’s stock worth $70,000 after acquiring an additional 605 shares during the period. 90.77% of the stock is owned by institutional investors.

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.