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

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

A number of other brokerages have also recently commented on TPR. Evercore ISI upgraded Tapestry from an “in-line” rating to an “outperform” rating and upped their price target for the stock from $30.00 to $50.00 in a research report on Monday, February 5th. The Goldman Sachs Group upped their price objective on Tapestry from $41.00 to $47.00 and gave the stock a “buy” rating in a research note on Friday, February 9th. Raymond James upped their price objective on Tapestry from $40.00 to $44.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 30th. OTR Global reaffirmed a “mixed” rating on shares of Tapestry in a research note on Wednesday, April 17th. Finally, Bernstein Bank upped their price objective on Tapestry from $46.00 to $48.00 in a research note on Thursday. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $47.82.

Tapestry Stock Performance

Tapestry stock traded down $0.07 during mid-day trading on Thursday, reaching $38.91. 687,172 shares of the stock traded hands, compared to its average volume of 3,798,218. The stock has a market capitalization of $8.92 billion, a PE ratio of 9.83, a price-to-earnings-growth ratio of 0.81 and a beta of 1.61. The company has a debt-to-equity ratio of 2.90, a current ratio of 6.25 and a quick ratio of 5.68. Tapestry has a 12-month low of $25.99 and a 12-month high of $48.80. The business’s 50-day moving average is $43.78 and its 200-day moving average is $38.63.

Tapestry (NYSE:TPR) last issued its quarterly earnings results on Thursday, May 9th. The luxury accessories retailer reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.14. The business had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Tapestry had a return on equity of 41.75% and a net margin of 13.80%. The business’s quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.78 earnings per share. As a group, sell-side analysts predict that Tapestry will post 4.23 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bell Investment Advisors Inc grew its stake in Tapestry by 718.1% during the 3rd quarter. Bell Investment Advisors Inc now owns 949 shares of the luxury accessories retailer’s stock worth $27,000 after buying an additional 833 shares during the last quarter. Fidelis Capital Partners LLC purchased a new position in shares of Tapestry in the first quarter worth about $35,000. BNP Paribas acquired a new stake in shares of Tapestry during the first quarter worth about $38,000. EverSource Wealth Advisors LLC increased its holdings in Tapestry by 3,778.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,241 shares of the luxury accessories retailer’s stock worth $46,000 after buying an additional 1,209 shares during the period. Finally, AllSquare Wealth Management LLC raised its position in Tapestry by 35.1% during the 3rd quarter. AllSquare Wealth Management LLC now owns 1,627 shares of the luxury accessories retailer’s stock worth $47,000 after buying an additional 423 shares during the last quarter. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

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.