Tapestry (NYSE:TPR) Upgraded to Buy by StockNews.com

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

A number of other analysts have also commented on TPR. TheStreet upgraded Tapestry from a "c+" rating to a "b-" rating in a report on Tuesday, December 26th. 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 report on Friday, February 9th. Telsey Advisory Group reissued an "outperform" rating and issued a $54.00 target price on shares of Tapestry in a research report on Wednesday, March 27th. Raymond James raised their target price on Tapestry from $40.00 to $44.00 and gave the stock an "outperform" rating in a research report on Tuesday, January 30th. Finally, Wells Fargo & Company raised their target price on Tapestry from $50.00 to $60.00 and gave the stock an "overweight" rating in a research report on Friday, February 2nd. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat.com, Tapestry currently has a consensus rating of "Moderate Buy" and an average target price of $47.81.

Tapestry Stock Up 0.0 %

Shares of TPR stock traded up $0.01 during trading hours on Thursday, reaching $40.50. The company had a trading volume of 3,813,735 shares, compared to its average volume of 3,761,391. Tapestry has a 12 month low of $25.99 and a 12 month high of $48.80. The company has a debt-to-equity ratio of 2.90, a current ratio of 6.25 and a quick ratio of 5.68. The business has a fifty day simple moving average of $45.57 and a 200-day simple moving average of $37.41. The company has a market cap of $9.29 billion, a price-to-earnings ratio of 10.23, a price-to-earnings-growth ratio of 0.84 and a beta of 1.57.

Tapestry (NYSE:TPR - Get Free Report) last posted its earnings results on Thursday, February 8th. The luxury accessories retailer reported $1.63 earnings per share for the quarter, beating 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%. The company's revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter last year, the company earned $1.36 earnings per share. On average, research analysts expect that Tapestry will post 4.25 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Tapestry

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Tapestry by 2.4% during the first quarter. Vanguard Group Inc. now owns 32,654,335 shares of the luxury accessories retailer's stock worth $1,213,109,000 after purchasing an additional 751,210 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Tapestry by 3.2% in the 1st quarter. BlackRock Inc. now owns 16,155,279 shares of the luxury accessories retailer's stock valued at $696,454,000 after acquiring an additional 505,189 shares during the last quarter. FMR LLC lifted its stake in shares of Tapestry by 2.0% in the 3rd quarter. FMR LLC now owns 14,018,492 shares of the luxury accessories retailer's stock valued at $403,032,000 after acquiring an additional 280,959 shares during the last quarter. State Street Corp lifted its stake in shares of Tapestry by 1.7% in the 2nd quarter. State Street Corp now owns 9,588,682 shares of the luxury accessories retailer's stock valued at $410,396,000 after acquiring an additional 160,015 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its stake in shares of Tapestry by 4.7% in the 3rd quarter. Victory Capital Management Inc. now owns 6,823,763 shares of the luxury accessories retailer's stock valued at $196,183,000 after acquiring an additional 305,658 shares during the last quarter. 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.