Brokerages Set Tapestry Inc (NYSE:TPR) Target Price at $20.47

Shares of Tapestry Inc (NYSE:TPR) have received a consensus recommendation of “Hold” from the twenty-seven brokerages that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, fifteen have issued a hold recommendation and ten have given a buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $20.47.

TPR has been the subject of several recent research reports. Goldman Sachs Group raised Tapestry from a “neutral” rating to a “buy” rating and boosted their price target for the company from $16.00 to $18.00 in a research note on Monday, July 27th. Robert W. Baird reduced their price objective on shares of Tapestry from $33.00 to $25.00 and set an “outperform” rating for the company in a research note on Wednesday, April 22nd. Morgan Stanley decreased their price objective on shares of Tapestry from $13.00 to $12.00 and set an “equal weight” rating for the company in a report on Monday, May 4th. ValuEngine raised Tapestry from a “sell” rating to a “hold” rating in a research report on Monday, June 1st. Finally, Cfra lowered their price objective on Tapestry from $30.00 to $16.00 and set a “buy” rating on the stock in a report on Thursday, April 30th.

Shares of NYSE:TPR opened at $13.36 on Tuesday. Tapestry has a 12-month low of $10.18 and a 12-month high of $31.05. The company has a quick ratio of 1.12, a current ratio of 1.87 and a debt-to-equity ratio of 1.36. The firm has a market capitalization of $3.69 billion, a P/E ratio of -16.91, a price-to-earnings-growth ratio of 0.92 and a beta of 1.33. The firm has a fifty day moving average of $13.42 and a two-hundred day moving average of $17.70.

Tapestry (NYSE:TPR) last released its quarterly earnings data on Thursday, April 30th. The luxury accessories retailer reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.11). Tapestry had a negative net margin of 3.64% and a positive return on equity of 16.58%. The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same period in the previous year, the business posted $0.42 EPS. Tapestry’s revenue for the quarter was down 19.4% on a year-over-year basis. Equities research analysts expect that Tapestry will post 0.72 earnings per share for the current fiscal year.

In other news, Director John P. Bilbrey bought 7,100 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The shares were acquired at an average cost of $14.48 per share, with a total value of $102,808.00. 1.10% of the stock is currently owned by company insiders.

A number of hedge funds have recently modified their holdings of TPR. CENTRAL TRUST Co increased its holdings in Tapestry by 4,302.3% in the 2nd quarter. CENTRAL TRUST Co now owns 1,893 shares of the luxury accessories retailer’s stock valued at $25,000 after buying an additional 1,850 shares during the period. Sowell Financial Services LLC raised its position in Tapestry by 256.9% in the first quarter. Sowell Financial Services LLC now owns 3,130 shares of the luxury accessories retailer’s stock worth $41,000 after purchasing an additional 2,253 shares in the last quarter. Ellevest Inc. bought a new position in Tapestry during the first quarter worth about $93,000. Cerebellum GP LLC acquired a new stake in Tapestry during the second quarter valued at approximately $118,000. Finally, Dupont Capital Management Corp bought a new stake in shares of Tapestry in the 1st quarter valued at approximately $120,000. 88.44% of the stock is owned by hedge funds and other institutional investors.

Tapestry Company Profile

Tapestry, Inc provides luxury accessories and lifestyle brands in the United States, Japan, China, Hong Kong, Macau, East Asia, Europe, Canada, Taiwan, South Korea, Malaysia, and Singapore. It operates through three segments: Coach, Kate Spade, and Stuart Weitzman. The company offers handbags, wallets, money pieces, wristlets and cosmetic cases, key rings, and charms, as well as address books, time management accessories, travel accessories, sketchbooks, and portfolios for women; and business cases, computer bags, messenger-style bags, backpacks, totes, wallets, card cases, travel organizers, belts, footwear, watches, sunglasses, novelty accessories, and ready-to-wear for men.

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Analyst Recommendations for Tapestry (NYSE:TPR)

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