Tapestry (NYSE:TPR) Rating Increased to Strong-Buy at Wall Street Zen

Key Points

• Tapestry (NYSE:TPR) has been upgraded from a "buy" to a "strong-buy" rating by Wall Street Zen, indicating increased confidence in the stock's future performance.
• Goldman Sachs raised their price target on Tapestry from $84 to $93, while JPMorgan Chase set their target at $145, reflecting a positive outlook among several brokerages.
• The company's quarterly earnings report showed EPS of $1.04, surpassing expectations, and revenue growth of 8.3% year-over-year, highlighting Tapestry's strong financial performance.

Tapestry (NYSE:TPR - Get Free Report) was upgraded by Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research report issued to clients and investors on Friday.

A number of other brokerages have also weighed in on TPR. The Goldman Sachs Group lifted their price objective on Tapestry from $84.00 to $93.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. JPMorgan Chase & Co. raised their target price on Tapestry from $104.00 to $145.00 and gave the stock an "overweight" rating in a research report on Monday, July 28th. Evercore ISI reduced their price target on Tapestry from $130.00 to $125.00 and set an "outperform" rating for the company in a research report on Friday, August 15th. Morgan Stanley boosted their price objective on Tapestry from $90.00 to $115.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Finally, Bank of America cut shares of Tapestry from a "buy" rating to a "neutral" rating and upped their target price for the company from $95.00 to $115.00 in a research report on Tuesday, July 29th. Seventeen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $105.47.

Tapestry Stock Up 1.2%

Shares of NYSE TPR opened at $99.5640 on Friday. Tapestry has a one year low of $39.40 and a one year high of $114.05. The company has a debt-to-equity ratio of 2.77, a current ratio of 1.87 and a quick ratio of 1.31. The firm's 50 day simple moving average is $98.72 and its two-hundred day simple moving average is $83.53. The stock has a market capitalization of $20.72 billion, a P/E ratio of 158.04, a PEG ratio of 2.48 and a beta of 1.51.

Tapestry (NYSE:TPR - Get Free Report) last issued its quarterly earnings results on Thursday, August 14th. The luxury accessories retailer reported $1.04 EPS for the quarter, beating analysts' consensus estimates of $1.02 by $0.02. Tapestry had a net margin of 2.61% and a return on equity of 68.02%. The business had revenue of $1.72 billion for the quarter, compared to analysts' expectations of $1.67 billion. During the same period last year, the business earned $0.92 earnings per share. The business's quarterly revenue was up 8.3% on a year-over-year basis. Tapestry has set its FY 2026 guidance at 5.300-5.450 EPS. As a group, analysts expect that Tapestry will post 4.91 EPS for the current fiscal year.

Institutional Investors Weigh In On Tapestry

Hedge funds have recently modified their holdings of the business. Schroder Investment Management Group increased its position in shares of Tapestry by 1,661.6% during the 2nd quarter. Schroder Investment Management Group now owns 4,002,818 shares of the luxury accessories retailer's stock worth $351,487,000 after purchasing an additional 3,775,593 shares during the last quarter. Norges Bank acquired a new position in Tapestry during the 2nd quarter worth $227,248,000. Southpoint Capital Advisors LP acquired a new position in Tapestry during the 4th quarter worth $130,660,000. Price T Rowe Associates Inc. MD grew its stake in Tapestry by 593.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,191,904 shares of the luxury accessories retailer's stock worth $143,198,000 after purchasing an additional 1,875,753 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in Tapestry during the 4th quarter worth $101,433,000. 90.77% of the stock is currently owned by institutional investors and hedge funds.

About Tapestry

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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