Tapestry (NYSE:TPR) Given “Outperform” Rating at Telsey Advisory Group

Tapestry (NYSE:TPR)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Telsey Advisory Group in a research note issued on Monday, MarketBeat Ratings reports. They presently have a $125.00 price target on the luxury accessories retailer’s stock, up from their prior price target of $92.00. Telsey Advisory Group’s price target points to a potential upside of 15.22% from the stock’s previous close.

Other research analysts have also recently issued reports about the stock. Barclays restated an “overweight” rating and issued a $105.00 price objective (up from $98.00) on shares of Tapestry in a research report on Friday, July 11th. The Goldman Sachs Group upped their price objective on shares of Tapestry from $84.00 to $93.00 and gave the stock a “buy” rating in a research report on Friday, May 9th. Wall Street Zen cut shares of Tapestry from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 18th. UBS Group restated a “neutral” rating and issued a $112.00 price objective (up from $73.00) on shares of Tapestry in a research report on Monday, August 4th. Finally, Argus upped their target price on Tapestry from $78.00 to $92.00 and gave the stock a “buy” rating in a research note on Tuesday, June 17th. Four investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Tapestry presently has a consensus rating of “Moderate Buy” and an average target price of $101.56.

Tapestry Price Performance

Shares of TPR traded down $0.60 during midday trading on Monday, hitting $108.49. 1,842,450 shares of the company traded hands, compared to its average volume of 4,884,230. The stock has a 50-day moving average of $94.16 and a 200-day moving average of $81.67. Tapestry has a one year low of $37.13 and a one year high of $113.08. The firm has a market cap of $22.53 billion, a P/E ratio of 28.60, a PEG ratio of 2.20 and a beta of 1.51. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.76 and a quick ratio of 1.22.

Tapestry (NYSE:TPR) last announced its quarterly earnings results on Thursday, May 8th. The luxury accessories retailer reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.14. Tapestry had a return on equity of 51.84% and a net margin of 12.50%. The firm had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.53 billion. During the same period in the prior year, the business posted $0.81 earnings per share. The company’s revenue was up 6.9% on a year-over-year basis. As a group, sell-side analysts predict that Tapestry will post 4.91 EPS for the current fiscal year.

Hedge Funds Weigh In On Tapestry

A number of institutional investors have recently added to or reduced their stakes in TPR. Harbour Investments Inc. boosted its holdings in shares of Tapestry by 120.1% during the 1st quarter. Harbour Investments Inc. now owns 361 shares of the luxury accessories retailer’s stock valued at $25,000 after acquiring an additional 197 shares during the last quarter. Flaharty Asset Management LLC bought a new position in shares of Tapestry during the 1st quarter worth $25,000. First PREMIER Bank acquired a new stake in shares of Tapestry in the second quarter worth approximately $25,000. Greenline Partners LLC acquired a new position in Tapestry during the fourth quarter worth $29,000. Finally, Caitong International Asset Management Co. Ltd acquired a new position in Tapestry during the 1st quarter worth $29,000. 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.