Tapestry (NYSE:TPR) Stock Price Expected to Rise, Guggenheim Analyst Says

Tapestry (NYSE:TPR) had its price target upped by investment analysts at Guggenheim from $60.00 to $70.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the luxury accessories retailer’s stock. Guggenheim’s price target suggests a potential upside of 22.31% from the stock’s current price.

TPR has been the topic of a number of other reports. Raymond James reissued an “outperform” rating and set a $57.00 target price (up from $55.00) on shares of Tapestry in a report on Friday, November 8th. Bank of America raised their price target on Tapestry from $52.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. UBS Group reduced their target price on Tapestry from $42.00 to $40.00 and set a “neutral” rating on the stock in a report on Friday, August 16th. StockNews.com cut Tapestry from a “buy” rating to a “hold” rating in a research note on Monday, October 28th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Tapestry from $51.00 to $66.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $57.69.

Tapestry Stock Performance

TPR opened at $57.23 on Friday. The company has a market capitalization of $13.34 billion, a price-to-earnings ratio of 16.54, a P/E/G ratio of 1.78 and a beta of 1.53. The business’s 50-day moving average price is $46.55 and its two-hundred day moving average price is $42.97. Tapestry has a 1 year low of $29.83 and a 1 year high of $58.49. 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 announced its earnings results on Thursday, August 15th. The luxury accessories retailer reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.04. Tapestry had a return on equity of 36.26% and a net margin of 12.12%. The business had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same quarter last year, the firm earned $0.95 EPS. Tapestry’s revenue for the quarter was down 1.8% compared to the same quarter last year. Equities analysts expect that Tapestry will post 4.54 EPS for the current fiscal year.

Institutional Trading of Tapestry

Several institutional investors have recently bought and sold shares of TPR. Waldron Private Wealth LLC bought a new position in Tapestry during the 3rd quarter valued at about $25,000. Massmutual Trust Co. FSB ADV increased its position in 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. Brooklyn Investment Group bought a new stake in Tapestry during the 3rd quarter worth approximately $47,000. Blue Trust Inc. lifted its stake in shares of Tapestry by 111.9% during the 2nd quarter. Blue Trust Inc. now owns 1,053 shares of the luxury accessories retailer’s stock valued at $50,000 after buying an additional 556 shares in the last quarter. Finally, MUFG Securities EMEA plc lifted its position in shares of Tapestry by 34.9% in the second quarter. MUFG Securities EMEA plc now owns 1,226 shares of the luxury accessories retailer’s stock valued at $52,000 after acquiring an additional 317 shares in the last quarter. 90.77% of the stock is 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.