Tapestry (NYSE:TPR) had its target price boosted by research analysts at KeyCorp from $53.00 to $59.00 in a research note issued on Wednesday. The firm presently has an “overweight” rating on the luxury accessories retailer’s stock. KeyCorp’s price target points to a potential upside of 17.16% from the stock’s previous close.
Several other brokerages have also recently issued reports on TPR. BMO Capital Markets reissued a “hold” rating on shares of Tapestry in a research report on Tuesday. William Blair reaffirmed an “outperform” rating on shares of Tapestry in a research note on Tuesday. ValuEngine raised Tapestry from a “hold” rating to a “buy” rating in a research note on Wednesday. Robert W. Baird reaffirmed a “buy” rating and issued a $55.00 price objective on shares of Tapestry in a research note on Wednesday. Finally, Royal Bank of Canada raised their price objective on Tapestry to $53.00 and gave the stock an “outperform” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $49.67.
Shares of Tapestry (TPR) traded up $1.34 during trading hours on Wednesday, reaching $50.36. The company’s stock had a trading volume of 1,936,176 shares, compared to its average volume of 2,514,893. The stock has a market capitalization of $12,788.35, a PE ratio of 31.18, a price-to-earnings-growth ratio of 1.67 and a beta of 0.59. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.74 and a quick ratio of 1.25. Tapestry has a fifty-two week low of $36.69 and a fifty-two week high of $50.60.
Institutional investors and hedge funds have recently modified their holdings of the stock. Oak Point Wealth Management bought a new stake in Tapestry during the 4th quarter valued at approximately $469,000. Point View Wealth Management Inc. bought a new stake in Tapestry during the 3rd quarter valued at approximately $552,000. Sheets Smith Wealth Management bought a new stake in Tapestry during the 4th quarter valued at approximately $760,000. Public Employees Retirement System of Ohio bought a new stake in Tapestry during the 3rd quarter valued at approximately $4,916,000. Finally, CWM LLC bought a new stake in Tapestry during the 4th quarter valued at approximately $5,978,000. 88.00% of the stock is currently owned by institutional investors.
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About Tapestry
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.
