Tapestry, Inc. (NYSE:TPR) Given Average Recommendation of “Moderate Buy” by Brokerages

Tapestry, Inc. (NYSE:TPRGet Free Report) has been assigned an average recommendation of “Moderate Buy” from the twenty ratings firms that are covering the firm, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold recommendation, fifteen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $173.8750.

A number of research analysts have recently commented on the stock. JPMorgan Chase & Co. upped their price objective on shares of Tapestry from $205.00 to $211.00 and gave the company an “overweight” rating in a research report on Tuesday. Zacks Research downgraded Tapestry from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 22nd. Barclays boosted their price target on Tapestry from $179.00 to $182.00 and gave the company an “overweight” rating in a research note on Thursday, July 16th. Citigroup upped their price target on Tapestry from $165.00 to $170.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Finally, Raymond James Financial reissued an “outperform” rating and set a $165.00 price objective on shares of Tapestry in a report on Thursday, April 23rd.

Get Our Latest Analysis on TPR

Insider Buying and Selling at Tapestry

In other Tapestry news, CEO Todd Kahn sold 19,557 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $140.02, for a total value of $2,738,371.14. Following the sale, the chief executive officer owned 123,258 shares of the company’s stock, valued at $17,258,585.16. The trade was a 13.69% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Joanne C. Crevoiserat sold 27,776 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $132.89, for a total transaction of $3,691,152.64. Following the transaction, the chief executive officer directly owned 652,434 shares of the company’s stock, valued at $86,701,954.26. The trade was a 4.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.32% of the stock is owned by company insiders.

Institutional Trading of Tapestry

Hedge funds have recently modified their holdings of the company. Woodline Partners LP raised its holdings in Tapestry by 25.0% during the 1st quarter. Woodline Partners LP now owns 17,490 shares of the luxury accessories retailer’s stock worth $1,231,000 after purchasing an additional 3,495 shares during the last quarter. Acadian Asset Management LLC bought a new position in shares of Tapestry during the 1st quarter worth approximately $493,000. Sivia Capital Partners LLC acquired a new position in shares of Tapestry during the 2nd quarter worth approximately $602,000. Arrowstreet Capital Limited Partnership acquired a new position in shares of Tapestry during the 2nd quarter worth approximately $6,307,000. Finally, Brown Advisory Inc. raised its stake in Tapestry by 13.8% in the 2nd quarter. Brown Advisory Inc. now owns 3,630 shares of the luxury accessories retailer’s stock valued at $319,000 after acquiring an additional 439 shares during the period. Institutional investors and hedge funds own 90.77% of the company’s stock.

Tapestry Stock Performance

TPR opened at $159.24 on Thursday. The company has a quick ratio of 1.27, a current ratio of 1.84 and a debt-to-equity ratio of 3.48. The stock’s 50 day moving average price is $145.04 and its two-hundred day moving average price is $143.70. The firm has a market capitalization of $32.17 billion, a P/E ratio of 51.04, a price-to-earnings-growth ratio of 1.42 and a beta of 1.43. Tapestry has a 12-month low of $92.62 and a 12-month high of $161.97.

Tapestry (NYSE:TPRGet Free Report) last issued its quarterly earnings results on Thursday, May 7th. The luxury accessories retailer reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates of $1.30 by $0.36. The firm had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.79 billion. Tapestry had a net margin of 8.44% and a return on equity of 229.70%. The business’s revenue was up 21.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.03 EPS. On average, equities analysts forecast that Tapestry will post 6.97 earnings per share for the current year.

About Tapestry

(Get Free Report)

Tapestry, Inc is a New York City–based house of fashion brands that designs, produces and distributes a range of accessible luxury and lifestyle products. The company manages a portfolio led by Coach, along with Kate Spade New York and Stuart Weitzman, each offering distinct product lines that include handbags and leather goods, footwear, ready-to-wear apparel, accessories, small leather goods, jewelry and lifestyle items. Tapestry’s operations encompass product design, marketing, wholesale partnerships, retail store operations and digital commerce.

Historically, the Coach brand traces its roots to a leather workshop in New York dating to the mid-20th century.

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Analyst Recommendations for Tapestry (NYSE:TPR)

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