Tapestry (NYSE:TPR) had its price objective upped by investment analysts at Buckingham Research from $55.00 to $56.00 in a research report issued on Wednesday. The firm presently has a “buy” rating on the luxury accessories retailer’s stock. Buckingham Research’s target price points to a potential upside of 14.15% from the company’s current price.
Several other research analysts have also weighed in 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 reissued an “outperform” rating and set a $55.00 price objective (up previously from $50.00) on shares of Tapestry in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $50.23.
Shares of Tapestry (NYSE:TPR) traded up $0.21 during mid-day trading on Wednesday, reaching $49.06. The company’s stock had a trading volume of 5,823,159 shares, compared to its average volume of 2,980,000. 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 has a 12 month low of $37.53 and a 12 month high of $50.71. The firm has a market cap of $13,950.00, a price-to-earnings ratio of 43.80, a P/E/G ratio of 1.70 and a beta of 0.59.
In other Tapestry news, insider Sarah Dunn sold 6,229 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $48.23, for a total value of $300,424.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.98% of the stock is currently owned by company insiders.
Institutional investors have recently bought and sold shares of the stock. Oak Point Wealth Management bought a new position in shares of Tapestry during the 4th quarter worth approximately $469,000. Point View Wealth Management Inc. bought a new position in Tapestry in the 3rd quarter valued at $552,000. Sheets Smith Wealth Management bought a new position in Tapestry in the 4th quarter valued at $760,000. CWM LLC bought a new position in Tapestry in the 4th quarter valued at $5,978,000. Finally, Public Employees Retirement System of Ohio bought a new position in Tapestry in the 3rd quarter valued at $4,916,000. Institutional investors and hedge funds own 88.00% of the company’s stock.
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.
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