Tapestry (NYSE:TPR) Price Target Raised to $73.00 at UBS Group

Tapestry (NYSE:TPR) had its target price lifted by investment analysts at UBS Group from $68.00 to $73.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the luxury accessories retailer’s stock. UBS Group’s price target indicates a potential downside of 6.41% from the company’s previous close.

A number of other equities analysts also recently weighed in on TPR. Evercore ISI upped their target price on Tapestry from $68.00 to $74.00 and gave the company an “outperform” rating in a report on Monday, January 27th. Raymond James reiterated an “outperform” rating and issued a $85.00 target price (up previously from $74.00) on shares of Tapestry in a research report on Friday. Morgan Stanley upgraded shares of Tapestry from an “equal weight” rating to an “overweight” rating and set a $90.00 price target on the stock in a report on Thursday. The Goldman Sachs Group increased their price objective on Tapestry from $84.00 to $93.00 and gave the stock a “buy” rating in a report on Friday. Finally, Barclays lowered their target price on Tapestry from $100.00 to $83.00 and set an “overweight” rating on the stock in a research note on Thursday, April 10th. Five equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $82.22.

Tapestry Price Performance

TPR stock opened at $78.00 on Friday. The firm has a 50-day moving average of $69.75 and a two-hundred day moving average of $67.95. The firm has a market capitalization of $16.15 billion, a PE ratio of 22.61, a P/E/G ratio of 2.01 and a beta of 1.41. The company has a current ratio of 1.58, a quick ratio of 1.05 and a debt-to-equity ratio of 1.78. Tapestry has a one year low of $35.23 and a one year high of $90.85.

Tapestry (NYSE:TPR) last released its earnings results on Thursday, May 8th. The luxury accessories retailer reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.14. Tapestry had a return on equity of 44.00% and a net margin of 11.74%. The company had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same quarter in the prior year, the company earned $0.81 earnings per share. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. On average, analysts forecast that Tapestry will post 4.91 earnings per share for the current year.

Insider Activity

In other news, CFO Scott A. Roe sold 25,727 shares of the business’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $86.56, for a total transaction of $2,226,929.12. Following the transaction, the chief financial officer now owns 146,587 shares in the company, valued at approximately $12,688,570.72. The trade was a 14.93 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Todd Kahn sold 7,786 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $87.59, for a total value of $681,975.74. Following the completion of the sale, the chief executive officer now owns 201,531 shares of the company’s stock, valued at $17,652,100.29. This represents a 3.72 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 66,537 shares of company stock valued at $5,730,589. 1.18% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of TPR. Harbour Investments Inc. raised its position in shares of Tapestry by 120.1% during the first quarter. Harbour Investments Inc. now owns 361 shares of the luxury accessories retailer’s stock worth $25,000 after acquiring an additional 197 shares during the last quarter. Greenline Partners LLC bought a new stake in Tapestry during the 4th quarter worth about $29,000. Coppell Advisory Solutions LLC lifted its position in Tapestry by 40.7% during the 4th quarter. Coppell Advisory Solutions LLC now owns 519 shares of the luxury accessories retailer’s stock valued at $34,000 after purchasing an additional 150 shares during the period. Opal Wealth Advisors LLC bought a new position in shares of Tapestry in the 1st quarter valued at about $35,000. Finally, MorganRosel Wealth Management LLC acquired a new stake in shares of Tapestry during the 1st quarter worth approximately $35,000. Institutional investors own 90.77% of the company’s stock.

Tapestry Company Profile

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.