Barclays Boosts Tapestry (NYSE:TPR) Price Target to $105.00

Tapestry (NYSE:TPR - Get Free Report) had its price objective hoisted by investment analysts at Barclays from $98.00 to $105.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has an "overweight" rating on the luxury accessories retailer's stock. Barclays's price target would indicate a potential upside of 7.52% from the company's current price.

TPR has been the subject of a number of other reports. UBS Group increased their price target on Tapestry from $68.00 to $73.00 and gave the company a "neutral" rating in a research note on Friday, May 9th. The Goldman Sachs Group increased their price target on Tapestry from $84.00 to $93.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Raymond James Financial reiterated an "outperform" rating and issued a $85.00 price target (up from $74.00) on shares of Tapestry in a research note on Friday, May 9th. Wall Street Zen upgraded Tapestry from a "hold" rating to a "buy" rating in a research note on Tuesday, May 13th. Finally, Argus increased their price target on Tapestry from $78.00 to $92.00 and gave the company a "buy" rating in a research note on Tuesday, June 17th. Three research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $89.17.

Tapestry Price Performance

Shares of TPR stock traded up $0.02 during trading hours on Friday, reaching $97.66. The company's stock had a trading volume of 820,512 shares, compared to its average volume of 5,019,437. The firm's 50 day simple moving average is $82.57 and its 200-day simple moving average is $75.90. The company has a market capitalization of $20.28 billion, a price-to-earnings ratio of 25.68, a PEG ratio of 1.97 and a beta of 1.47. Tapestry has a fifty-two week low of $35.23 and a fifty-two week high of $98.50. The company has a quick ratio of 1.22, a current ratio of 1.76 and a debt-to-equity ratio of 1.59.

Tapestry (NYSE:TPR - Get Free Report) last issued its earnings results on Thursday, May 8th. The luxury accessories retailer reported $1.03 earnings per share for the quarter, beating analysts' consensus estimates of $0.89 by $0.14. The firm had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.53 billion. Tapestry had a return on equity of 51.84% and a net margin of 12.50%. The company's revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.81 EPS. Sell-side analysts forecast that Tapestry will post 4.91 earnings per share for the current year.

Insider Transactions at Tapestry

In other Tapestry news, CEO Todd Kahn sold 40,000 shares of the stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $81.40, for a total transaction of $3,256,000.00. Following the completion of the sale, the chief executive officer directly owned 116,062 shares in the company, valued at approximately $9,447,446.80. This trade represents a 25.63% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Manesh Dadlani sold 1,399 shares of the stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $81.88, for a total value of $114,550.12. Following the sale, the vice president owned 40,922 shares of the company's stock, valued at approximately $3,350,693.36. The trade was a 3.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.18% of the company's stock.

Institutional Trading of Tapestry

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Coppell Advisory Solutions LLC raised its holdings in Tapestry by 40.7% during the 4th quarter. Coppell Advisory Solutions LLC now owns 519 shares of the luxury accessories retailer's stock valued at $34,000 after acquiring an additional 150 shares during the period. Private Trust Co. NA raised its holdings in Tapestry by 27.2% during the 1st quarter. Private Trust Co. NA now owns 715 shares of the luxury accessories retailer's stock valued at $50,000 after acquiring an additional 153 shares during the period. Mather Group LLC. raised its holdings in Tapestry by 2.8% during the 1st quarter. Mather Group LLC. now owns 6,018 shares of the luxury accessories retailer's stock valued at $424,000 after acquiring an additional 165 shares during the period. MassMutual Private Wealth & Trust FSB raised its holdings in Tapestry by 25.2% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 963 shares of the luxury accessories retailer's stock valued at $68,000 after acquiring an additional 194 shares during the period. Finally, Harbour Investments Inc. raised its holdings in Tapestry by 120.1% during the 1st quarter. Harbour Investments Inc. now owns 361 shares of the luxury accessories retailer's stock valued at $25,000 after acquiring an additional 197 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.

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