Tapestry (TPR) Stock Rating Upgraded by Piper Jaffray Companies

Tapestry (NYSE:TPR) was upgraded by investment analysts at Piper Jaffray Companies from a “neutral” rating to an “overweight” rating in a research report issued to clients and investors on Tuesday, The Fly reports.

Several other research analysts have also commented on TPR. Consumer Edge lowered Tapestry from an “outperform” rating to a “neutral” rating in a research report on Wednesday, October 11th. KeyCorp set a $53.00 price target on Tapestry and gave the stock a “buy” rating in a research report on Wednesday, October 11th. Robert W. Baird set a $49.00 price target on Tapestry and gave the stock a “buy” rating in a research report on Tuesday, October 17th. Zacks Investment Research lowered Tapestry from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 17th. Finally, William Blair reiterated a “buy” rating on shares of Tapestry in a report on Saturday, October 21st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $48.81.

Tapestry (TPR) traded up $4.05 on Tuesday, hitting $49.02. The stock had a trading volume of 9,374,127 shares, compared to its average volume of 2,594,142. Tapestry has a 1-year low of $36.69 and a 1-year high of $49.38. The stock has a market capitalization of $13,069.88, a price-to-earnings ratio of 30.42, a P/E/G ratio of 1.71 and a beta of 0.59. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.25 and a current ratio of 1.74.

Tapestry (NYSE:TPR) last released its quarterly earnings results on Tuesday, February 6th. The luxury accessories retailer reported $1.07 EPS for the quarter, topping the consensus estimate of $0.88 by $0.19. Tapestry had a return on equity of 20.71% and a net margin of 9.62%. The business had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same period last year, the business posted $0.75 earnings per share. The company’s quarterly revenue was up 35.1% on a year-over-year basis. research analysts expect that Tapestry will post 2.39 earnings per share for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. acquired a new stake in shares of Tapestry during the fourth quarter worth about $1,957,000. Bank of The West acquired a new stake in shares of Tapestry during the fourth quarter worth about $441,000. Benedict Financial Advisors Inc. acquired a new stake in shares of Tapestry during the fourth quarter worth about $361,000. Cadence Capital Management LLC acquired a new stake in shares of Tapestry during the fourth quarter worth about $2,451,000. Finally, Crossmark Global Holdings Inc. acquired a new stake in shares of Tapestry during the fourth quarter worth about $924,000. 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.