Stock analysts at Needham & Company LLC assumed coverage on shares of Tapestry (NYSE:TPR) in a research report issued on Monday, The Fly reports. The firm set a “hold” rating on the luxury accessories retailer’s stock.
A number of other analysts have also recently weighed in on the company. Goldman Sachs Group raised Tapestry from a “buy” rating to a “conviction-buy” rating in a research report on Tuesday, December 5th. TheStreet cut Tapestry from a “b” rating to a “c+” rating in a research report on Tuesday, November 7th. UBS decreased their price objective on Tapestry from $50.00 to $48.00 and set a “buy” rating for the company in a research report on Wednesday, November 8th. Buckingham Research increased their price objective on Tapestry from $48.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, November 8th. Finally, Susquehanna Bancshares assumed coverage on Tapestry in a research report on Thursday, November 2nd. They set a “positive” rating and a $50.00 price objective for the company. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the stock. Tapestry currently has a consensus rating of “Buy” and a consensus target price of $47.70.
Tapestry (NYSE TPR) traded up $0.66 during trading on Monday, reaching $43.49. The company’s stock had a trading volume of 4,921,977 shares, compared to its average volume of 3,378,879. Tapestry has a 52 week low of $34.16 and a 52 week high of $48.85. The company has a quick ratio of 1.25, a current ratio of 1.74 and a debt-to-equity ratio of 0.64. The firm has a market cap of $12,179.78, a PE ratio of 20.11, a price-to-earnings-growth ratio of 1.61 and a beta of 0.46.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Point View Wealth Management Inc. purchased a new position in Tapestry in the 3rd quarter valued at approximately $552,000. New Mexico Educational Retirement Board purchased a new position in Tapestry in the 3rd quarter valued at approximately $1,051,000. Capital International Investors purchased a new position in Tapestry in the 3rd quarter valued at approximately $25,376,000. Afam Capital Inc. purchased a new position in Tapestry in the 3rd quarter valued at approximately $6,945,000. Finally, LMR Partners LLP purchased a new position in Tapestry in the 3rd quarter valued at approximately $229,000. 88.10% of the stock is owned by hedge funds and other institutional investors.
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About Tapestry
Tapestry, Inc, formerly Coach, Inc, is a design house of luxury accessories and lifestyle collections. The Company’s product offering uses a range of leathers, fabrics and materials. The Company’s brands include Coach, Kate Spade, and Stuart Weitzman. Its segments include North America, International and Stuart Weitzman.
