Tapestry (NYSE:TPR) had its price target increased by stock analysts at Bank of America from $47.00 to $50.00 in a report released on Wednesday. The brokerage currently has a “neutral” rating on the luxury accessories retailer’s stock. Bank of America’s price objective indicates a potential downside of 0.71% from the stock’s previous close.
TPR has been the subject of a number of other research reports. Canaccord Genuity set a $58.00 price objective on Tapestry and gave the stock a “buy” rating in a report on Sunday, January 7th. Citigroup assumed coverage on Tapestry in a report on Thursday, November 2nd. They issued a “positive” rating and a $50.00 price objective for the company. Cowen reiterated a “buy” rating and issued a $54.00 price objective on shares of Tapestry in a report on Wednesday, January 31st. Susquehanna Bancshares assumed coverage on Tapestry in a report on Thursday, November 2nd. They issued a “positive” rating and a $50.00 price objective for the company. Finally, Goldman Sachs Group upgraded Tapestry from a “buy” rating to a “conviction-buy” rating in a report on Tuesday, December 5th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $49.67.
Shares of Tapestry (TPR) traded up $1.34 during trading on Wednesday, hitting $50.36. The company had a trading volume of 1,936,176 shares, compared to its average volume of 2,514,893. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.25 and a current ratio of 1.74. The company has a market capitalization of $12,788.35, a P/E ratio of 31.18, a PEG ratio of 1.67 and a beta of 0.59. Tapestry has a one year low of $36.69 and a one year high of $50.60.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Hexavest Inc. purchased a new stake in shares of Tapestry in the fourth quarter worth $106,000. Dupont Capital Management Corp purchased a new stake in shares of Tapestry in the fourth quarter worth $110,000. Cerebellum GP LLC purchased a new stake in shares of Tapestry in the fourth quarter worth $118,000. M&R Capital Management Inc. purchased a new stake in shares of Tapestry in the third quarter worth $153,000. Finally, SeaCrest Wealth Management LLC purchased a new stake in shares of Tapestry during the fourth quarter valued at $163,000. 88.00% of the stock is currently owned by hedge funds and other institutional investors.
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.
