Tapestry (NYSE:TPR) Rating Reiterated by Telsey Advisory Group

Tapestry (NYSE:TPR - Get Free Report)'s stock had its "outperform" rating reiterated by equities researchers at Telsey Advisory Group in a report issued on Thursday, Benzinga reports. They currently have a $54.00 target price on the luxury accessories retailer's stock. Telsey Advisory Group's target price suggests a potential upside of 33.76% from the stock's current price.

A number of other brokerages have also recently commented on TPR. Wells Fargo & Company lifted their price target on Tapestry from $50.00 to $60.00 and gave the stock an "overweight" rating in a research note on Friday, February 2nd. Jefferies Financial Group lowered shares of Tapestry from a "buy" rating to a "hold" rating and set a $50.00 price target on the stock. in a report on Thursday, February 29th. Bernstein Bank upped their price objective on shares of Tapestry from $46.00 to $48.00 in a research note on Thursday. The Goldman Sachs Group raised their target price on Tapestry from $41.00 to $47.00 and gave the stock a "buy" rating in a research note on Friday, February 9th. Finally, Raymond James boosted their target price on Tapestry from $40.00 to $44.00 and gave the company an "outperform" rating in a research note on Tuesday, January 30th. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat.com, Tapestry presently has an average rating of "Moderate Buy" and an average price target of $47.82.

Tapestry Price Performance

Shares of TPR stock traded up $1.39 during trading hours on Thursday, hitting $40.37. 5,358,528 shares of the company's stock were exchanged, compared to its average volume of 3,852,467. Tapestry has a 12-month low of $25.99 and a 12-month high of $48.80. The company has a market capitalization of $9.26 billion, a PE ratio of 9.83, a PEG ratio of 0.81 and a beta of 1.61. The business's 50 day simple moving average is $43.78 and its 200-day simple moving average is $38.63. The company has a current ratio of 6.25, a quick ratio of 5.68 and a debt-to-equity ratio of 2.90.

Tapestry (NYSE:TPR - Get Free Report) last issued its earnings results on Thursday, May 9th. The luxury accessories retailer reported $0.81 EPS for the quarter, topping analysts' consensus estimates of $0.67 by $0.14. Tapestry had a net margin of 13.80% and a return on equity of 41.75%. The company had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.50 billion. During the same quarter last year, the company earned $0.78 EPS. The firm's revenue was down 2.0% compared to the same quarter last year. On average, equities research analysts anticipate that Tapestry will post 4.23 earnings per share for the current year.

Institutional Investors Weigh In On Tapestry

Institutional investors have recently made changes to their positions in the company. CWM LLC grew its stake in shares of Tapestry by 0.9% in the first quarter. CWM LLC now owns 26,859 shares of the luxury accessories retailer's stock worth $1,275,000 after acquiring an additional 237 shares during the period. Empirical Finance LLC raised 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 valued at $415,000 after buying an additional 276 shares during the last quarter. Raleigh Capital Management Inc. lifted its holdings in shares of Tapestry by 5.7% during the 3rd quarter. Raleigh Capital Management Inc. now owns 5,463 shares of the luxury accessories retailer's stock valued at $157,000 after buying an additional 297 shares during the period. Treasurer of the State of North Carolina lifted its holdings in shares of Tapestry by 0.3% during the 3rd quarter. Treasurer of the State of North Carolina now owns 109,837 shares of the luxury accessories retailer's stock valued at $3,158,000 after buying an additional 353 shares during the period. Finally, Sowell Financial Services LLC boosted its stake in shares of Tapestry by 2.1% in the 3rd quarter. Sowell Financial Services LLC now owns 18,348 shares of the luxury accessories retailer's stock worth $527,000 after buying an additional 381 shares during the last quarter. Hedge funds and other institutional investors own 90.77% of the company's stock.

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.