Telsey Advisory Group Reiterates "Outperform" Rating for Tapestry (NYSE:TPR)

Key Points

• Telsey Advisory Group has reiterated its "outperform" rating for Tapestry (NYSE:TPR) with a price target of $125.00, indicating an 18.7% upside potential from current stock prices.
• Other analysts' ratings have varied, with Bank of America downgrading Tapestry to "neutral" and increasing its price target to $115.00, while Wells Fargo raised its target to $120.00 with an "overweight" rating.
• Tapestry reported a quarterly earnings per share (EPS) of $1.04, surpassing estimates of $1.02, and achieved revenue of $1.72 billion, an 8.3% increase year-over-year.

Tapestry (NYSE:TPR - Get Free Report)'s stock had its "outperform" rating reiterated by equities research analysts at Telsey Advisory Group in a research note issued on Thursday,Benzinga reports. They presently have a $125.00 price objective on the luxury accessories retailer's stock. Telsey Advisory Group's target price would suggest a potential upside of 18.70% from the stock's current price.

Other analysts have also issued reports about the company. Bank of America lowered Tapestry from a "buy" rating to a "neutral" rating and lifted their price target for the company from $95.00 to $115.00 in a research note on Tuesday, July 29th. Wells Fargo & Company lifted their price target on Tapestry from $100.00 to $120.00 and gave the company an "overweight" rating in a research note on Thursday, August 14th. Morgan Stanley raised their price objective on Tapestry from $90.00 to $115.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Evercore ISI lowered their price objective on Tapestry from $130.00 to $125.00 and set an "outperform" rating for the company in a research report on Friday, August 15th. Finally, UBS Group lowered their price objective on Tapestry from $112.00 to $105.00 and set a "neutral" rating for the company in a research report on Friday, August 15th. Seventeen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $105.47.

Tapestry Stock Performance

Shares of TPR stock opened at $105.31 on Thursday. The business's 50-day moving average price is $103.22 and its 200-day moving average price is $85.23. Tapestry has a 12 month low of $40.41 and a 12 month high of $114.05. The firm has a market capitalization of $21.92 billion, a price-to-earnings ratio of 167.15, a PEG ratio of 2.65 and a beta of 1.52. The company has a current ratio of 1.87, a quick ratio of 1.31 and a debt-to-equity ratio of 2.77.

Tapestry (NYSE:TPR - Get Free Report) last announced 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 return on equity of 68.02% and a net margin of 2.61%.The firm had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same period last year, the firm posted $0.92 earnings per share. The business's revenue for the quarter was up 8.3% on a year-over-year basis. Tapestry has set its FY 2026 guidance at 5.300-5.450 EPS. Equities research analysts forecast that Tapestry will post 4.91 EPS for the current year.

Insider Buying and Selling

In related news, VP Manesh Dadlani sold 7,882 shares of the firm's stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $99.05, for a total transaction of $780,712.10. Following the completion of the sale, the vice president owned 21,098 shares of the company's stock, valued at $2,089,756.90. This trade represents a 27.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.18% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Tapestry

Hedge funds and other institutional investors have recently modified their holdings of the company. First PREMIER Bank bought a new stake in shares of Tapestry during the second quarter valued at approximately $25,000. Vestor Capital LLC bought a new stake in shares of Tapestry during the second quarter valued at approximately $27,000. Flaharty Asset Management LLC bought a new stake in shares of Tapestry during the first quarter valued at approximately $25,000. Harbour Investments Inc. increased its holdings in shares of Tapestry by 120.1% during the first 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 in the last quarter. Finally, CVA Family Office LLC increased its holdings in shares of Tapestry by 224.8% during the second quarter. CVA Family Office LLC now owns 380 shares of the luxury accessories retailer's stock valued at $33,000 after acquiring an additional 263 shares in 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.

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