Barclays Issues Pessimistic Forecast for Tapestry (NYSE:TPR) Stock Price

Tapestry (NYSE:TPR) had its price objective decreased by research analysts at Barclays from $100.00 to $83.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the luxury accessories retailer’s stock. Barclays‘s target price would suggest a potential upside of 30.97% from the stock’s current price.

TPR has been the subject of several other reports. Wells Fargo & Company raised their target price on shares of Tapestry from $75.00 to $90.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Telsey Advisory Group lifted their price target on Tapestry from $74.00 to $83.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. The Goldman Sachs Group increased their target price on Tapestry from $72.00 to $98.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Jefferies Financial Group lifted their price target on shares of Tapestry from $80.00 to $83.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. Finally, StockNews.com downgraded Tapestry from a “buy” rating to a “hold” rating in a research report on Tuesday. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $77.63.

Tapestry Stock Performance

TPR stock traded down $3.91 during trading on Thursday, hitting $63.37. The company had a trading volume of 1,332,085 shares, compared to its average volume of 5,916,946. The firm has a 50-day moving average price of $76.20 and a 200-day moving average price of $64.44. The company has a quick ratio of 1.05, a current ratio of 1.58 and a debt-to-equity ratio of 1.78. The firm has a market cap of $13.12 billion, a PE ratio of 18.39, a price-to-earnings-growth ratio of 2.01 and a beta of 1.37. Tapestry has a 1-year low of $35.23 and a 1-year high of $90.85.

Tapestry (NYSE:TPR) last announced its quarterly earnings data on Thursday, February 6th. The luxury accessories retailer reported $2.00 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.30. Tapestry had a net margin of 11.74% and a return on equity of 44.00%. During the same quarter in the prior year, the company posted $1.63 earnings per share. On average, analysts expect that Tapestry will post 4.91 earnings per share for the current year.

Insider Transactions at Tapestry

In other news, CFO Scott A. Roe sold 25,727 shares of Tapestry stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $86.56, for a total value of $2,226,929.12. Following the transaction, the chief financial officer now directly owns 146,587 shares in the company, valued at approximately $12,688,570.72. The trade was a 14.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Todd Kahn sold 21,107 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $84.00, for a total value of $1,772,988.00. Following the transaction, the chief executive officer now owns 176,985 shares of the company’s stock, valued at approximately $14,866,740. This trade represents a 10.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 66,537 shares of company stock valued at $5,730,589. 1.18% of the stock is owned by insiders.

Institutional Trading of Tapestry

A number of hedge funds have recently modified their holdings of TPR. Greenline Partners LLC acquired a new position in Tapestry in the fourth quarter worth about $29,000. Coppell Advisory Solutions LLC raised its holdings in shares of Tapestry by 40.7% in the 4th quarter. Coppell Advisory Solutions LLC now owns 519 shares of the luxury accessories retailer’s stock worth $34,000 after buying an additional 150 shares in the last quarter. Venturi Wealth Management LLC lifted its position in shares of Tapestry by 78.0% during the 4th quarter. Venturi Wealth Management LLC now owns 575 shares of the luxury accessories retailer’s stock worth $38,000 after buying an additional 252 shares during the period. Canada Post Corp Registered Pension Plan acquired a new stake in Tapestry in the 4th quarter valued at $48,000. Finally, MassMutual Private Wealth & Trust FSB boosted its stake in shares of Tapestry by 25.2% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 963 shares of the luxury accessories retailer’s stock valued at $68,000 after purchasing an additional 194 shares in the last quarter. 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.