Tapestry (NYSE:TPR) Price Target Raised to $65.00 at Wells Fargo & Company

Tapestry (NYSE:TPR) had its target price boosted by equities research analysts at Wells Fargo & Company from $50.00 to $65.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the luxury accessories retailer’s stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 46.17% from the company’s current price.

TPR has been the topic of a number of other research reports. UBS Group dropped their price target on Tapestry from $42.00 to $40.00 and set a “neutral” rating on the stock in a research report on Friday, August 16th. Citigroup dropped their price target on Tapestry from $50.00 to $49.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Evercore ISI dropped their price target on Tapestry from $53.00 to $47.00 and set an “outperform” rating on the stock in a research report on Friday, August 9th. JPMorgan Chase & Co. dropped their price target on Tapestry from $54.00 to $51.00 and set an “overweight” rating on the stock in a research report on Friday, August 16th. Finally, The Goldman Sachs Group increased their price target on Tapestry from $47.00 to $52.00 and gave the stock a “buy” rating in a research report on Monday. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Tapestry presently has an average rating of “Moderate Buy” and an average target price of $48.50.

Tapestry Stock Performance

Shares of Tapestry stock opened at $44.47 on Friday. The stock’s fifty day moving average is $43.34 and its two-hundred day moving average is $41.84. The company has a market capitalization of $10.22 billion, a PE ratio of 11.76, a price-to-earnings-growth ratio of 1.67 and a beta of 1.53. The company has a quick ratio of 4.66, a current ratio of 5.14 and a debt-to-equity ratio of 2.39. Tapestry has a 52 week low of $25.99 and a 52 week high of $48.80.

Tapestry (NYSE:TPR) last announced its quarterly earnings data 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. The company had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.58 billion. Tapestry had a return on equity of 37.22% and a net margin of 12.23%. Tapestry’s quarterly revenue was down 1.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.95 EPS. As a group, analysts expect that Tapestry will post 4.47 earnings per share for the current year.

Institutional Trading of Tapestry

Several institutional investors have recently bought and sold shares of the business. Waldron Private Wealth LLC purchased a new stake in shares of Tapestry during the third quarter worth approximately $25,000. Fidelis Capital Partners LLC purchased a new stake in shares of Tapestry during the first quarter worth $35,000. BNP Paribas acquired a new stake in shares of Tapestry in the first quarter valued at about $38,000. Massmutual Trust Co. FSB ADV lifted its stake in shares of Tapestry by 54.0% in the second quarter. Massmutual Trust Co. FSB ADV now owns 935 shares of the luxury accessories retailer’s stock worth $40,000 after buying an additional 328 shares in the last quarter. Finally, Blue Trust Inc. boosted its position in Tapestry by 111.9% during the second quarter. Blue Trust Inc. now owns 1,053 shares of the luxury accessories retailer’s stock worth $50,000 after acquiring an additional 556 shares during the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

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.