Tapestry (TPR) PT Raised to $56.00 at Buckingham Research

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.

Tapestry (NYSE:TPR) last issued its earnings results on Tuesday, February 6th. The luxury accessories retailer reported $1.07 earnings per share for the quarter, topping the 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 firm posted $0.75 EPS. The business’s revenue was up 35.1% compared to the same quarter last year. sell-side analysts forecast that Tapestry will post 2.56 earnings per share for the current fiscal year.

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.

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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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