Barclays Raises Tapestry (TPR) Price Target to $51.00

Tapestry (NYSE:TPR) had its price objective lifted by equities researchers at Barclays from $47.00 to $51.00 in a note issued to investors on Wednesday. The firm currently has an “equal weight” rating on the luxury accessories retailer’s stock. Barclays’ target price suggests a potential upside of 3.95% from the company’s previous close.

A number of other equities analysts have also issued reports on TPR. William Blair reaffirmed an “outperform” rating on shares of Tapestry in a research report on Tuesday, February 6th. Piper Jaffray Companies raised Tapestry from a “neutral” rating to an “overweight” rating and set a $54.00 target price on the stock in a research report on Tuesday, February 6th. BMO Capital Markets reaffirmed a “hold” rating on shares of Tapestry in a research report on Tuesday, February 6th. ValuEngine raised Tapestry from a “hold” rating to a “buy” rating in a research report on Wednesday. Finally, Robert W. Baird reaffirmed an “outperform” rating and issued a $55.00 target price (up from $50.00) on shares of Tapestry in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $50.23.

Shares of Tapestry (NYSE TPR) traded up $0.21 on Wednesday, hitting $49.06. The company’s stock had a trading volume of 5,823,159 shares, compared to its average volume of 2,980,000. Tapestry has a one year low of $37.53 and a one year high of $50.71. The firm has a market cap of $13,950.00, a price-to-earnings ratio of 43.80, a price-to-earnings-growth ratio of 1.70 and a beta of 0.59. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.25 and a current ratio of 1.90.

Tapestry (NYSE:TPR) last announced its earnings results on Tuesday, February 6th. The luxury accessories retailer reported $1.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.21. Tapestry had a return on equity of 23.68% and a net margin of 6.14%. The company had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same period in the prior year, the company posted $0.75 EPS. Tapestry’s quarterly revenue was up 35.1% on a year-over-year basis. analysts anticipate that Tapestry will post 2.56 earnings per share for the current year.

In other news, insider Sarah Dunn sold 6,229 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $48.23, for a total value of $300,424.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.98% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. New Mexico Educational Retirement Board grew its stake in shares of Tapestry by 4.2% in the fourth quarter. New Mexico Educational Retirement Board now owns 27,198 shares of the luxury accessories retailer’s stock worth $1,203,000 after purchasing an additional 1,100 shares in the last quarter. Hexavest Inc. bought a new position in Tapestry during the fourth quarter valued at about $106,000. First Dallas Securities Inc. bought a new position in Tapestry during the fourth quarter valued at about $108,000. Dupont Capital Management Corp bought a new position in Tapestry during the fourth quarter valued at about $110,000. Finally, Cerebellum GP LLC bought a new position in Tapestry during the fourth quarter valued at about $118,000. 88.00% of the stock is owned by institutional investors.

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Tapestry Company Profile

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.

Analyst Recommendations for Tapestry (NYSE:TPR)

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