Tapestry (NYSE:TPR) Upgraded at StockNews.com

Tapestry (NYSE:TPR) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Thursday.

Several other research analysts also recently commented on the company. Evercore ISI raised Tapestry from an “in-line” rating to an “outperform” rating and raised their price objective for the stock from $30.00 to $50.00 in a research note on Monday, February 5th. Jefferies Financial Group downgraded Tapestry from a “buy” rating to a “hold” rating and set a $50.00 target price on the stock. in a research note on Thursday, February 29th. OTR Global reissued a “mixed” rating on shares of Tapestry in a research note on Wednesday. Wells Fargo & Company lifted their target price on Tapestry from $50.00 to $60.00 and gave the company an “overweight” rating in a research note on Friday, February 2nd. Finally, The Goldman Sachs Group lifted their target price on Tapestry from $41.00 to $47.00 and gave the company a “buy” rating in a research note on Friday, February 9th. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $47.81.

Tapestry Stock Down 0.9 %

TPR stock opened at $40.49 on Thursday. Tapestry has a fifty-two week low of $25.99 and a fifty-two week high of $48.80. The business’s 50-day moving average is $45.57 and its two-hundred day moving average is $37.41. The company has a debt-to-equity ratio of 2.90, a quick ratio of 5.68 and a current ratio of 6.25. The company has a market cap of $9.29 billion, a price-to-earnings ratio of 10.22, a P/E/G ratio of 0.84 and a beta of 1.57.

Tapestry (NYSE:TPR) last posted its quarterly earnings data on Thursday, February 8th. The luxury accessories retailer reported $1.63 EPS for the quarter, topping the consensus estimate of $1.46 by $0.17. Tapestry had a return on equity of 41.75% and a net margin of 13.80%. The firm had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.05 billion. During the same quarter last year, the company earned $1.36 earnings per share. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. As a group, analysts forecast that Tapestry will post 4.25 earnings per share for the current year.

Hedge Funds Weigh In On Tapestry

A number of institutional investors and hedge funds have recently modified their holdings of TPR. Brown Brothers Harriman & Co. lifted its stake in shares of Tapestry by 340.7% during the 1st quarter. Brown Brothers Harriman & Co. now owns 661 shares of the luxury accessories retailer’s stock worth $25,000 after acquiring an additional 511 shares during the last quarter. Alpha Paradigm Partners LLC bought a new stake in shares of Tapestry during the 3rd quarter worth approximately $26,000. Bell Investment Advisors Inc lifted its stake in shares of Tapestry by 718.1% during the 3rd quarter. Bell Investment Advisors Inc now owns 949 shares of the luxury accessories retailer’s stock worth $27,000 after acquiring an additional 833 shares during the last quarter. Canada Pension Plan Investment Board lifted its stake in shares of Tapestry by 955.8% during the 1st quarter. Canada Pension Plan Investment Board now owns 1,098 shares of the luxury accessories retailer’s stock worth $41,000 after acquiring an additional 994 shares during the last quarter. Finally, Quarry LP lifted its stake in shares of Tapestry by 100.8% during the 2nd quarter. Quarry LP now owns 968 shares of the luxury accessories retailer’s stock worth $41,000 after acquiring an additional 127,311 shares during the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

About Tapestry

Tapestry, Inc provides luxury accessories and branded lifestyle products in the United States, Japan, Greater China, and internationally. The company operates in three segments: Coach, Kate Spade, and Stuart Weitzman. It offers women's handbags; and women's accessories, such as small leather goods which includes mini and micro handbags, money pieces, wristlets, pouches, and cosmetic cases, as well as novelty accessories including address books, time management and travel accessories, sketchbooks, and portfolios; and belts, key rings, and charms.