Tapestry (NYSE:TPR) Downgraded to "Hold" at StockNews.com

Tapestry (NYSE:TPR - Get Free Report) was downgraded by investment analysts at StockNews.com from a "buy" rating to a "hold" rating in a research note issued to investors on Wednesday.

A number of other brokerages have also issued reports on TPR. Raymond James lifted their target price on Tapestry from $40.00 to $44.00 and gave the company an "outperform" rating in a research report on Tuesday, January 30th. TheStreet upgraded Tapestry from a "c+" rating to a "b-" rating in a research note on Tuesday, December 26th. Wells Fargo & Company upped their target price on Tapestry from $50.00 to $60.00 and gave the company an "overweight" rating in a research report on Friday, February 2nd. Evercore ISI upgraded Tapestry from an "in-line" rating to an "outperform" rating and upped their target price for the company from $30.00 to $50.00 in a research report on Monday, February 5th. Finally, Telsey Advisory Group reissued an "outperform" rating and set a $54.00 price target on shares of Tapestry in a report on Wednesday, March 27th. Seven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat, Tapestry has an average rating of "Moderate Buy" and a consensus target price of $47.81.

Tapestry Stock Down 2.9 %

Shares of NYSE TPR traded down $1.25 during mid-day trading on Wednesday, reaching $41.44. 4,974,136 shares of the company's stock were exchanged, compared to its average volume of 3,742,564. The firm has a market capitalization of $9.51 billion, a price-to-earnings ratio of 10.46, a PEG ratio of 0.88 and a beta of 1.57. The company has a current ratio of 6.25, a quick ratio of 5.68 and a debt-to-equity ratio of 2.90. The business has a fifty day simple moving average of $45.50 and a 200 day simple moving average of $36.96. Tapestry has a twelve month low of $25.99 and a twelve month high of $48.80.

Tapestry (NYSE:TPR - Get Free Report) last released its quarterly earnings results on Thursday, February 8th. The luxury accessories retailer reported $1.63 EPS for the quarter, topping analysts' consensus estimates of $1.46 by $0.17. The company had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.05 billion. Tapestry had a return on equity of 41.75% and a net margin of 13.80%. Tapestry's revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.36 earnings per share. As a group, equities analysts expect that Tapestry will post 4.25 EPS for the current fiscal year.

Hedge Funds Weigh In On Tapestry

Large investors have recently made changes to their positions in the stock. Brown Brothers Harriman & Co. boosted its stake in Tapestry by 340.7% during the first quarter. Brown Brothers Harriman & Co. now owns 661 shares of the luxury accessories retailer's stock valued at $25,000 after buying an additional 511 shares during the period. Alpha Paradigm Partners LLC bought a new stake in Tapestry during the third quarter valued at $26,000. Bell Investment Advisors Inc boosted its stake in Tapestry by 718.1% during the third quarter. Bell Investment Advisors Inc now owns 949 shares of the luxury accessories retailer's stock valued at $27,000 after buying an additional 833 shares during the period. Canada Pension Plan Investment Board boosted its stake in Tapestry by 955.8% during the first quarter. Canada Pension Plan Investment Board now owns 1,098 shares of the luxury accessories retailer's stock valued at $41,000 after buying an additional 994 shares during the period. Finally, Quarry LP boosted its stake in Tapestry by 100.8% during the second quarter. Quarry LP now owns 968 shares of the luxury accessories retailer's stock valued at $41,000 after buying an additional 127,311 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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