Jefferies Financial Group Forecasts Strong Price Appreciation for Tapestry (NYSE:TPR) Stock

Tapestry (NYSE:TPR) had its price objective raised by Jefferies Financial Group from $80.00 to $83.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the luxury accessories retailer’s stock. Jefferies Financial Group’s price objective indicates a potential upside of 12.48% from the stock’s current price.

A number of other research analysts have also weighed in on the stock. Robert W. Baird raised their price objective on shares of Tapestry from $58.00 to $64.00 and gave the company an “outperform” rating in a research note on Friday, November 15th. TD Cowen downgraded Tapestry from a “buy” rating to a “hold” rating and set a $52.00 price target for the company. in a research note on Tuesday, October 29th. JPMorgan Chase & Co. increased their price objective on Tapestry from $66.00 to $75.00 and gave the stock an “overweight” rating in a research note on Monday, December 16th. Raymond James reaffirmed an “outperform” rating and set a $57.00 target price (up previously from $55.00) on shares of Tapestry in a research report on Friday, November 8th. Finally, Guggenheim increased their price target on Tapestry from $60.00 to $70.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Tapestry currently has a consensus rating of “Moderate Buy” and a consensus price target of $65.56.

Tapestry Stock Up 1.8 %

Shares of NYSE:TPR traded up $1.28 during trading on Tuesday, reaching $73.79. 3,408,722 shares of the stock were exchanged, compared to its average volume of 4,187,971. Tapestry has a 1-year low of $35.23 and a 1-year high of $75.78. The stock has a fifty day moving average of $65.14 and a two-hundred day moving average of $51.33. The company has a debt-to-equity ratio of 2.35, a current ratio of 4.93 and a quick ratio of 4.38. The firm has a market cap of $17.20 billion, a price-to-earnings ratio of 21.33, a price-to-earnings-growth ratio of 2.07 and a beta of 1.58.

Insiders Place Their Bets

In other news, VP Manesh Dadlani sold 8,872 shares of the stock in a transaction 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 completion of the transaction, the vice president now owns 35,003 shares in the company, valued at approximately $2,028,773.88. This represents a 20.22 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.18% of the company’s stock.

Hedge Funds Weigh In On Tapestry

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Robeco Institutional Asset Management B.V. lifted its stake in shares of Tapestry by 0.9% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 19,303 shares of the luxury accessories retailer’s stock valued at $1,261,000 after buying an additional 170 shares in the last quarter. Valley National Advisers Inc. raised its holdings in Tapestry by 0.5% during the 4th quarter. Valley National Advisers Inc. now owns 43,355 shares of the luxury accessories retailer’s stock valued at $2,831,000 after acquiring an additional 202 shares during the period. Redwood Investment Management LLC lifted its position in shares of Tapestry by 0.4% during the third quarter. Redwood Investment Management LLC now owns 47,407 shares of the luxury accessories retailer’s stock worth $2,269,000 after acquiring an additional 204 shares in the last quarter. IRON Financial LLC boosted its holdings in shares of Tapestry by 4.5% in the fourth quarter. IRON Financial LLC now owns 4,882 shares of the luxury accessories retailer’s stock worth $319,000 after acquiring an additional 208 shares during the period. Finally, Lebenthal Global Advisors LLC grew its position in shares of Tapestry by 2.8% in the third quarter. Lebenthal Global Advisors LLC now owns 7,813 shares of the luxury accessories retailer’s stock valued at $367,000 after purchasing an additional 215 shares in the last quarter. 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.