Tapestry (NYSE:TPR) Upgraded by StockNews.com to Buy Rating

Tapestry (NYSE:TPR) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Friday.

TPR has been the topic of several other research reports. Wells Fargo & Company lifted their target price on shares of Tapestry from $75.00 to $90.00 and gave the company an “overweight” rating in a report on Monday. Telsey Advisory Group upped their target price on Tapestry from $74.00 to $83.00 and gave the stock an “outperform” rating in a research report on Monday. Citigroup raised their target price on Tapestry from $49.00 to $55.00 and gave the company a “buy” rating in a report on Friday, October 25th. Robert W. Baird upped their price target on Tapestry from $58.00 to $64.00 and gave the stock an “outperform” rating in a report on Friday, November 15th. Finally, Daiwa America upgraded shares of Tapestry to a “hold” rating in a research note on Monday, November 18th. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, Tapestry has a consensus rating of “Moderate Buy” and a consensus target price of $73.17.

Tapestry Trading Down 2.3 %

TPR stock traded down $1.92 during trading on Friday, reaching $80.28. 7,820,487 shares of the stock traded hands, compared to its average volume of 5,063,234. The business’s 50 day moving average price is $68.08 and its 200-day moving average price is $53.27. The firm has a market capitalization of $18.71 billion, a PE ratio of 23.20, a P/E/G ratio of 2.07 and a beta of 1.58. 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 has a 52-week low of $35.23 and a 52-week high of $87.87.

Tapestry (NYSE:TPR) last posted its earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.70 by $0.30. Tapestry had a net margin of 12.12% and a return on equity of 36.26%. During the same quarter in the prior year, the firm posted $1.63 earnings per share. As a group, sell-side analysts forecast that Tapestry will post 4.63 earnings per share for the current year.

Insider Activity at Tapestry

In other news, VP Manesh Dadlani sold 8,872 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $57.96, for a total transaction of $514,221.12. Following the sale, the vice president now directly owns 35,003 shares in the company, valued at approximately $2,028,773.88. This represents a 20.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.18% of the company’s stock.

Institutional Investors Weigh In On Tapestry

Several large investors have recently added to or reduced their stakes in the stock. Waldron Private Wealth LLC acquired a new stake in Tapestry in the third quarter worth approximately $25,000. Venturi Wealth Management LLC lifted its holdings in shares of Tapestry by 78.0% in the fourth quarter. Venturi Wealth Management LLC now owns 575 shares of the luxury accessories retailer’s stock valued at $38,000 after buying an additional 252 shares during the period. Brooklyn Investment Group bought a new position in Tapestry during the third quarter valued at about $47,000. Deseret Mutual Benefit Administrators grew its holdings in Tapestry by 68.2% during the third quarter. Deseret Mutual Benefit Administrators now owns 1,492 shares of the luxury accessories retailer’s stock worth $70,000 after acquiring an additional 605 shares during the period. Finally, Transamerica Financial Advisors Inc. raised its position in Tapestry by 159,100.0% in the third quarter. Transamerica Financial Advisors Inc. now owns 1,592 shares of the luxury accessories retailer’s stock worth $75,000 after acquiring an additional 1,591 shares in 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.