Tapestry (NYSE:TPR) Stock Price Target Lowered at UBS Group

Key Points

• UBS Group lowered Tapestry’s price target from $232 to $200 while maintaining a “buy” rating, implying roughly 70% upside from the stock’s $117.62 opening price.
• Analyst sentiment remains broadly positive: Tapestry has a consensus “Moderate Buy” rating and an average price target of $171.56.
• Tapestry recently exceeded quarterly expectations, reporting $1.32 in earnings per share and $1.88 billion in revenue, with revenue up 8.9% year over year.

Tapestry (NYSE:TPR - Get Free Report) had its target price dropped by stock analysts at UBS Group from $232.00 to $200.00 in a research report issued on Tuesday, Benzinga reports. The brokerage presently has a "buy" rating on the luxury accessories retailer's stock. UBS Group's target price would indicate a potential upside of 70.04% from the stock's current price.

Several other equities research analysts also recently weighed in on the stock. Wells Fargo & Company cut their target price on shares of Tapestry from $165.00 to $160.00 and set an "overweight" rating on the stock in a research note on Thursday, August 13th. Sanford C. Bernstein restated a "market perform" rating and set a $185.00 target price (up from $180.00) on shares of Tapestry in a research note on Friday, August 14th. Weiss Ratings upgraded shares of Tapestry from a "buy (b-)" rating to a "buy (b)" rating in a research note on Friday. JPMorgan Chase & Co. raised their target price on shares of Tapestry from $205.00 to $211.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 4th. Finally, Daiwa Securities Group raised Tapestry from a "hold" rating to a "strong-buy" rating in a report on Monday, August 17th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $171.56.

Tapestry Stock Performance

Shares of Tapestry stock opened at $117.62 on Tuesday. The business's fifty day simple moving average is $121.48 and its 200-day simple moving average is $136.36. Tapestry has a 52 week low of $93.00 and a 52 week high of $164.80. The company has a quick ratio of 1.25, a current ratio of 1.75 and a debt-to-equity ratio of 3.44. The firm has a market cap of $23.45 billion, a PE ratio of 16.13, a price-to-earnings-growth ratio of 1.52 and a beta of 1.42.

Tapestry (NYSE:TPR - Get Free Report) last announced its earnings results on Thursday, August 13th. The luxury accessories retailer reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.04. Tapestry had a net margin of 19.09% and a return on equity of 254.95%. The company had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.87 billion. During the same quarter last year, the firm posted $1.04 earnings per share. Tapestry's revenue was up 8.9% compared to the same quarter last year. Tapestry has set its FY 2027 guidance at 7.800-7.900 EPS. Equities analysts forecast that Tapestry will post 7.94 earnings per share for the current year.

Insider Activity at Tapestry

In related news, insider Denise Kulikowsky sold 5,810 shares of the business's stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $115.38, for a total value of $670,357.80. Following the sale, the insider directly owned 21,136 shares in the company, valued at $2,438,671.68. The trade was a 21.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Joanne C. Crevoiserat sold 27,761 shares of the stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $132.47, for a total transaction of $3,677,499.67. Following the completion of the sale, the chief executive officer directly owned 666,149 shares in the company, valued at approximately $88,244,758.03. The trade was a 4.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.28% of the company's stock.

Hedge Funds Weigh In On Tapestry

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new stake in shares of Tapestry in the second quarter worth $2,610,995,000. Bank of America Corp DE purchased a new position in shares of Tapestry in the 2nd quarter valued at $771,309,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Tapestry by 53.8% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,169,602 shares of the luxury accessories retailer's stock valued at $317,586,000 after acquiring an additional 758,915 shares during the period. Amundi lifted its holdings in shares of Tapestry by 96.0% during the 1st quarter. Amundi now owns 1,769,905 shares of the luxury accessories retailer's stock valued at $249,751,000 after acquiring an additional 866,969 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in shares of Tapestry during the 2nd quarter valued at $175,291,000. Institutional investors and hedge funds own 90.77% of the company's stock.

Tapestry Company Profile

Tapestry, Inc is a global house of modern luxury accessories and lifestyle brands. The company's portfolio includes Coach, known for handbags, leather goods, footwear, apparel and accessories; Kate Spade New York, which offers handbags, accessories, apparel, footwear, home products and related lifestyle merchandise; and Stuart Weitzman, a designer and manufacturer of women's footwear.

Tapestry sells its products through company-operated stores, outlet locations, e-commerce websites, wholesale partners and select distributors.

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