Tapestry (NYSE:TPR) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Tapestry (NYSE:TPR) had its price objective raised by equities researchers at Wells Fargo & Company from $65.00 to $75.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the luxury accessories retailer’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 31.05% from the company’s previous close.

Several other equities research analysts also recently weighed in on TPR. Evercore ISI lifted their price target on shares of Tapestry from $47.00 to $63.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Citigroup upped their price target on Tapestry from $49.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. UBS Group cut their price target on Tapestry from $42.00 to $40.00 and set a “neutral” rating on the stock in a report on Friday, August 16th. Telsey Advisory Group boosted their price objective on Tapestry from $58.00 to $67.00 and gave the company an “outperform” rating in a report on Friday. Finally, Robert W. Baird increased their target price on Tapestry from $58.00 to $64.00 and gave the stock an “outperform” rating in a report on Friday. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $57.69.

Tapestry Trading Down 1.0 %

Shares of TPR stock opened at $57.23 on Friday. The company has a market cap of $13.34 billion, a P/E ratio of 16.54, a PEG ratio of 1.78 and a beta of 1.53. Tapestry has a fifty-two week low of $29.83 and a fifty-two week high of $58.49. The stock has a 50 day simple moving average of $46.55 and a two-hundred day simple moving average of $42.97. The company has a debt-to-equity ratio of 2.35, a quick ratio of 4.38 and a current ratio of 4.93.

Tapestry (NYSE:TPR) last released its quarterly earnings data on Thursday, August 15th. The luxury accessories retailer reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.04. The company had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.58 billion. Tapestry had a net margin of 12.12% and a return on equity of 36.26%. Tapestry’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.95 EPS. Research analysts forecast that Tapestry will post 4.54 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Redwood Investment Management LLC lifted its position in shares of Tapestry by 0.4% during the 3rd quarter. Redwood Investment Management LLC now owns 47,407 shares of the luxury accessories retailer’s stock worth $2,269,000 after buying an additional 204 shares in the last quarter. Lebenthal Global Advisors LLC increased its position in shares of Tapestry by 2.8% during the third quarter. Lebenthal Global Advisors LLC now owns 7,813 shares of the luxury accessories retailer’s stock valued at $367,000 after acquiring an additional 215 shares during the last quarter. OneDigital Investment Advisors LLC lifted its holdings in Tapestry by 3.0% during the third quarter. OneDigital Investment Advisors LLC now owns 7,520 shares of the luxury accessories retailer’s stock worth $353,000 after acquiring an additional 218 shares during the period. Mather Group LLC. boosted its position in Tapestry by 12.9% in the second quarter. Mather Group LLC. now owns 2,181 shares of the luxury accessories retailer’s stock worth $104,000 after purchasing an additional 249 shares during the last quarter. Finally, Summit Trail Advisors LLC grew its stake in Tapestry by 1.6% in the 3rd quarter. Summit Trail Advisors LLC now owns 16,273 shares of the luxury accessories retailer’s stock valued at $765,000 after purchasing an additional 251 shares during the period. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

About Tapestry

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.