Tapestry’s (TPR) Outperform Rating Reaffirmed at Telsey Advisory Group

Tapestry (NYSE:TPR)‘s stock had its “outperform” rating restated by research analysts at Telsey Advisory Group in a research note issued on Thursday, Benzinga reports. They presently have a $54.00 price objective on the luxury accessories retailer’s stock. Telsey Advisory Group’s price objective would suggest a potential upside of 38.78% from the stock’s previous close.

A number of other research analysts also recently commented on the company. StockNews.com raised Tapestry from a “hold” rating to a “buy” rating in a research note on Thursday, April 18th. Bernstein Bank boosted their price target on Tapestry from $46.00 to $48.00 in a research note on Thursday. The Goldman Sachs Group boosted their price target on Tapestry from $41.00 to $47.00 and gave the company a “buy” rating in a research note on Friday, February 9th. Evercore ISI raised Tapestry from an “in-line” rating to an “outperform” rating and boosted their target price for the stock from $30.00 to $50.00 in a research note on Monday, February 5th. Finally, Raymond James boosted their target price on Tapestry from $40.00 to $44.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 30th. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $47.82.

Tapestry Stock Performance

Shares of Tapestry stock traded down $0.07 during trading on Thursday, reaching $38.91. The company’s stock had a trading volume of 687,172 shares, compared to its average volume of 3,798,218. The business’s 50-day moving average price is $43.78 and its 200-day moving average price is $38.63. The firm has a market cap of $8.92 billion, a PE ratio of 9.83, a P/E/G ratio of 0.81 and a beta of 1.61. Tapestry has a 52 week low of $25.99 and a 52 week high of $48.80. The company has a quick ratio of 5.68, a current ratio of 6.25 and a debt-to-equity ratio of 2.90.

Tapestry (NYSE:TPR) last posted its quarterly earnings results on Thursday, May 9th. The luxury accessories retailer reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.14. The business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.50 billion. Tapestry had a return on equity of 41.75% and a net margin of 13.80%. Tapestry’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.78 earnings per share. Equities analysts forecast that Tapestry will post 4.23 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Tapestry by 0.6% in the third quarter. Vanguard Group Inc. now owns 31,554,418 shares of the luxury accessories retailer’s stock valued at $907,190,000 after acquiring an additional 173,111 shares during the last quarter. FMR LLC boosted its holdings in Tapestry by 2.0% in the third quarter. FMR LLC now owns 14,018,492 shares of the luxury accessories retailer’s stock valued at $403,032,000 after acquiring an additional 280,959 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in Tapestry by 4.7% in the third quarter. Victory Capital Management Inc. now owns 6,823,763 shares of the luxury accessories retailer’s stock valued at $196,183,000 after acquiring an additional 305,658 shares during the last quarter. Franklin Resources Inc. boosted its holdings in Tapestry by 0.9% in the fourth quarter. Franklin Resources Inc. now owns 5,954,829 shares of the luxury accessories retailer’s stock valued at $219,197,000 after acquiring an additional 54,647 shares during the last quarter. Finally, Capital Research Global Investors boosted its holdings in Tapestry by 77.2% in the fourth quarter. Capital Research Global Investors now owns 5,748,737 shares of the luxury accessories retailer’s stock valued at $211,611,000 after acquiring an additional 2,504,135 shares during the last quarter. Institutional investors and hedge funds 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.