Tapestry (NYSE:TPR) Stock Price Expected to Rise, Telsey Advisory Group Analyst Says

Tapestry (NYSE:TPR) had its target price lifted by research analysts at Telsey Advisory Group from $58.00 to $67.00 in a research note issued to investors on Friday, Marketbeat.com reports. The brokerage currently has an “outperform” rating on the luxury accessories retailer’s stock. Telsey Advisory Group’s price target suggests a potential upside of 17.07% from the company’s current price.

Other equities analysts also recently issued research reports about the stock. StockNews.com downgraded shares of Tapestry from a “buy” rating to a “hold” rating in a research note on Monday, October 28th. The Goldman Sachs Group upped their price objective on Tapestry from $47.00 to $52.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Citigroup lifted their target price on Tapestry from $49.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Bank of America increased their price target on shares of Tapestry from $52.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Finally, Evercore ISI raised their price target on shares of Tapestry from $47.00 to $63.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Tapestry currently has an average rating of “Moderate Buy” and a consensus target price of $57.69.

Tapestry Stock Performance

TPR stock opened at $57.23 on Friday. Tapestry has a 1-year low of $29.83 and a 1-year high of $58.49. The business has a 50-day moving average price of $46.55 and a 200 day moving average price of $42.97. The company has a market capitalization of $13.34 billion, a P/E ratio of 16.54, a PEG ratio of 1.99 and a beta of 1.53. The company has a debt-to-equity ratio of 2.35, a current ratio of 4.93 and a quick ratio of 4.38.

Tapestry (NYSE:TPR) last posted its quarterly earnings results on Thursday, August 15th. The luxury accessories retailer reported $0.92 EPS for the quarter, beating the consensus estimate of $0.88 by $0.04. Tapestry had a net margin of 12.12% and a return on equity of 36.26%. The business had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.58 billion. During the same quarter in the previous year, the business posted $0.95 EPS. The company’s quarterly revenue was down 1.8% compared to the same quarter last year. As a group, equities research analysts forecast that Tapestry will post 4.56 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Pacer Advisors Inc. raised its position in Tapestry by 53.1% during the 2nd quarter. Pacer Advisors Inc. now owns 6,020,625 shares of the luxury accessories retailer’s stock worth $257,623,000 after buying an additional 2,087,586 shares during the last quarter. Erste Asset Management GmbH acquired a new stake in Tapestry during the third quarter worth about $64,016,000. Clearbridge Investments LLC acquired a new stake in shares of Tapestry during the 1st quarter worth approximately $54,055,000. AQR Capital Management LLC grew its position in Tapestry by 235.9% during the second quarter. AQR Capital Management LLC now owns 1,497,514 shares of the luxury accessories retailer’s stock valued at $61,578,000 after buying an additional 1,051,743 shares during the period. Finally, Coronation Fund Managers Ltd. increased its holdings in Tapestry by 265.1% in the second quarter. Coronation Fund Managers Ltd. now owns 1,044,641 shares of the luxury accessories retailer’s stock valued at $44,700,000 after buying an additional 758,539 shares in the last quarter. 90.77% of the stock is currently owned by hedge funds and other 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.