Investment analysts at Credit Suisse Group started coverage on shares of Tapestry (NYSE:TPR) in a report released on Monday. The brokerage set an “outperform” rating and a $60.00 price target on the luxury accessories retailer’s stock. Credit Suisse Group’s price target indicates a potential upside of 14.37% from the company’s previous close.
Several other equities research analysts also recently issued reports on TPR. Goldman Sachs Group raised Tapestry from a “buy” rating to a “conviction-buy” rating in a report on Tuesday, December 5th. Needham & Company LLC initiated coverage on Tapestry in a report on Monday, December 18th. They set a “hold” rating for the company. Robert W. Baird set a $50.00 price target on Tapestry and gave the company a “buy” rating in a report on Friday, December 22nd. Zacks Investment Research raised Tapestry from a “hold” rating to a “buy” rating and set a $51.00 price target for the company in a report on Monday, January 8th. Finally, Canaccord Genuity set a $58.00 price target on Tapestry and gave the company a “buy” rating in a report on Sunday, January 7th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $50.75.
Shares of Tapestry (NYSE TPR) traded down $0.03 during trading on Monday, reaching $52.46. The company’s stock had a trading volume of 1,743,462 shares, compared to its average volume of 2,870,774. Tapestry has a fifty-two week low of $37.92 and a fifty-two week high of $52.85. The firm has a market cap of $14,953.48, a P/E ratio of 46.84, a price-to-earnings-growth ratio of 1.81 and a beta of 0.48. The company has a quick ratio of 1.51, a current ratio of 1.90 and a debt-to-equity ratio of 0.64.
In other Tapestry news, Director Susan J. Kropf sold 6,185 shares of Tapestry stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $50.80, for a total value of $314,198.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Sarah Dunn sold 6,229 shares of Tapestry stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $48.23, for a total value of $300,424.67. The disclosure for this sale can be found here. Insiders sold 140,551 shares of company stock worth $7,020,158 in the last 90 days. 0.98% of the stock is owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in TPR. Point View Wealth Management Inc. acquired a new stake in shares of Tapestry during the third quarter valued at about $552,000. LMR Partners LLP acquired a new stake in shares of Tapestry during the third quarter valued at about $229,000. M&R Capital Management Inc. acquired a new stake in shares of Tapestry during the third quarter valued at about $153,000. Capital International Investors acquired a new stake in shares of Tapestry during the third quarter valued at about $25,376,000. Finally, Afam Capital Inc. acquired a new stake in shares of Tapestry during the third quarter valued at about $6,945,000. Hedge funds and other institutional investors own 89.28% 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.
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