Tapestry’s (TPR) Equal Weight Rating Reaffirmed at Barclays

Tapestry (NYSE:TPR)‘s stock had its “equal weight” rating restated by research analysts at Barclays in a research report issued to clients and investors on Wednesday, Marketbeat reports. They presently have a $57.00 price objective on the luxury accessories retailer’s stock. Barclays‘s price target would suggest a potential upside of 1.25% from the company’s previous close.

Other analysts have also issued reports about the company. Telsey Advisory Group raised their price objective on Tapestry from $58.00 to $67.00 and gave the company an “outperform” rating in a report on Friday, November 15th. Evercore ISI increased their price objective on shares of Tapestry from $47.00 to $63.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Citigroup boosted their target price on shares of Tapestry from $49.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. JPMorgan Chase & Co. raised their price target on shares of Tapestry from $51.00 to $66.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Finally, TD Cowen cut Tapestry from a “buy” rating to a “hold” rating and set a $52.00 price objective on the stock. in a report on Tuesday, October 29th. Eight analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $57.78.

Tapestry Trading Up 1.8 %

TPR stock opened at $56.30 on Wednesday. Tapestry has a 52-week low of $30.20 and a 52-week high of $58.49. The company has a quick ratio of 4.38, a current ratio of 4.93 and a debt-to-equity ratio of 2.35. The firm has a market cap of $13.12 billion, a P/E ratio of 16.27, a PEG ratio of 1.92 and a beta of 1.53. The company’s 50-day simple moving average is $47.70 and its 200-day simple moving average is $43.41.

Insider Activity at Tapestry

In other Tapestry news, VP Manesh Dadlani sold 8,872 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $57.96, for a total transaction of $514,221.12. Following the completion of the sale, the vice president now owns 35,003 shares of the company’s stock, valued at $2,028,773.88. This trade represents a 20.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.18% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Tapestry

A number of hedge funds have recently modified their holdings of TPR. TCW Group Inc. lifted its position in Tapestry by 17.5% in the third quarter. TCW Group Inc. now owns 554,104 shares of the luxury accessories retailer’s stock valued at $26,032,000 after buying an additional 82,649 shares during the last quarter. Soltis Investment Advisors LLC acquired a new stake in shares of Tapestry during the third quarter valued at about $1,971,000. Fortem Financial Group LLC raised its stake in shares of Tapestry by 11.8% in the 3rd quarter. Fortem Financial Group LLC now owns 12,124 shares of the luxury accessories retailer’s stock valued at $570,000 after acquiring an additional 1,277 shares during the period. Coldstream Capital Management Inc. lifted its holdings in shares of Tapestry by 12.8% in the 3rd quarter. Coldstream Capital Management Inc. now owns 8,573 shares of the luxury accessories retailer’s stock worth $406,000 after acquiring an additional 970 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Tapestry by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 5,588,879 shares of the luxury accessories retailer’s stock worth $262,156,000 after purchasing an additional 80,681 shares during the period. 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.