Tapestry (NYSE:TPR) Upgraded at Jefferies Financial Group

Tapestry (NYSE:TPR) was upgraded by equities research analysts at Jefferies Financial Group from a “hold” rating to a “buy” rating in a research note issued on Thursday,Benzinga reports. The firm presently has a $80.00 target price on the luxury accessories retailer’s stock, up from their previous target price of $50.00. Jefferies Financial Group’s price target points to a potential upside of 28.87% from the stock’s current price.

Other equities research analysts have also issued reports about the stock. Telsey Advisory Group lifted their price target on shares of Tapestry from $58.00 to $67.00 and gave the stock an “outperform” rating in a research note on Friday, November 15th. Daiwa America upgraded shares of Tapestry to a “hold” rating in a research report on Monday, November 18th. Wells Fargo & Company boosted their target price on Tapestry from $65.00 to $75.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. BMO Capital Markets upped their price target on shares of Tapestry from $55.00 to $60.00 and gave the stock a “market perform” rating in a research note on Monday, November 18th. Finally, TD Cowen downgraded Tapestry from a “buy” rating to a “hold” rating and set a $52.00 price objective for the company. in a research note on Tuesday, October 29th. 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, Tapestry has an average rating of “Moderate Buy” and an average target price of $61.24.

Tapestry Stock Down 2.7 %

Shares of NYSE TPR opened at $62.08 on Thursday. The business has a 50-day moving average of $54.28 and a two-hundred day moving average of $46.19. The company has a market capitalization of $14.47 billion, a price-to-earnings ratio of 17.94, a price-to-earnings-growth ratio of 1.80 and a beta of 1.60. Tapestry has a 1 year low of $35.23 and a 1 year high of $65.30. The company has a debt-to-equity ratio of 2.35, a current ratio of 4.93 and a quick ratio of 4.38.

Insiders Place Their Bets

In other Tapestry news, VP Manesh Dadlani sold 8,872 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $57.96, for a total transaction of $514,221.12. Following the completion of the transaction, the vice president now directly owns 35,003 shares of the company’s stock, valued at $2,028,773.88. This trade represents a 20.22 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.18% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Waldron Private Wealth LLC acquired a new position in shares of Tapestry during the third quarter worth approximately $25,000. Brooklyn Investment Group bought a new position in shares of Tapestry in the third quarter valued at approximately $47,000. Blue Trust Inc. lifted its position in Tapestry by 111.9% in the second quarter. Blue Trust Inc. now owns 1,053 shares of the luxury accessories retailer’s stock worth $50,000 after purchasing an additional 556 shares during the period. MUFG Securities EMEA plc boosted its stake in Tapestry by 34.9% during the 2nd quarter. MUFG Securities EMEA plc now owns 1,226 shares of the luxury accessories retailer’s stock valued at $52,000 after purchasing an additional 317 shares in the last quarter. Finally, Chilton Capital Management LLC acquired a new position in shares of Tapestry during the 2nd quarter valued at $53,000. 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.