Jefferies Financial Group Forecasts Strong Price Appreciation for Tapestry (NYSE:TPR) Stock

Tapestry (NYSE:TPR) had its price objective boosted by investment analysts at Jefferies Financial Group from $125.00 to $135.00 in a note issued to investors on Thursday, MarketBeat.com reports. The firm presently has a “buy” rating on the luxury accessories retailer’s stock. Jefferies Financial Group’s price target suggests a potential upside of 17.69% from the company’s previous close.

A number of other analysts have also issued reports on the company. Evercore ISI lowered their price target on Tapestry from $130.00 to $125.00 and set an “outperform” rating for the company in a report on Friday, August 15th. Raymond James Financial boosted their price target on Tapestry from $115.00 to $130.00 and gave the company an “outperform” rating in a report on Tuesday. Wells Fargo & Company boosted their price target on Tapestry from $100.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, August 14th. Cowen reiterated a “buy” rating on shares of Tapestry in a report on Thursday, August 7th. Finally, Sanford C. Bernstein reiterated an “outperform” rating and issued a $112.00 price target on shares of Tapestry in a report on Friday, August 15th. Eighteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $113.35.

Tapestry Trading Down 0.2%

TPR opened at $114.71 on Thursday. The stock has a market cap of $23.75 billion, a price-to-earnings ratio of 182.08, a P/E/G ratio of 2.76 and a beta of 1.57. The stock’s 50 day moving average price is $109.19 and its 200-day moving average price is $93.86. Tapestry has a one year low of $46.77 and a one year high of $118.56. The company has a debt-to-equity ratio of 2.77, a quick ratio of 1.31 and a current ratio of 1.87.

Tapestry (NYSE:TPR) last released its earnings results on Thursday, August 14th. The luxury accessories retailer reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $1.02 by $0.02. The firm had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.67 billion. Tapestry had a return on equity of 68.02% and a net margin of 2.61%.The company’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.92 earnings per share. Tapestry has set its FY 2026 guidance at 5.300-5.450 EPS. On average, equities analysts forecast that Tapestry will post 4.91 EPS for the current year.

Insider Buying and Selling at Tapestry

In other news, Director Alan Ka Ming Lau sold 11,320 shares of the stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $106.19, for a total transaction of $1,202,070.80. Following the completion of the sale, the director owned 8,153 shares in the company, valued at approximately $865,767.07. This represents a 58.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Manesh Dadlani sold 7,882 shares of the stock in a transaction on Monday, August 25th. The shares were sold at an average price of $99.05, for a total value of $780,712.10. Following the sale, the vice president owned 21,098 shares of the company’s stock, valued at approximately $2,089,756.90. This represents a 27.20% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.32% of the company’s stock.

Hedge Funds Weigh In On Tapestry

Hedge funds have recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. acquired a new position in shares of Tapestry in the 1st quarter valued at $1,708,000. Nisa Investment Advisors LLC increased its position in shares of Tapestry by 16.7% in the 1st quarter. Nisa Investment Advisors LLC now owns 63,342 shares of the luxury accessories retailer’s stock valued at $4,460,000 after acquiring an additional 9,049 shares during the period. Jump Financial LLC grew its position in Tapestry by 1,025.9% during the 1st quarter. Jump Financial LLC now owns 79,702 shares of the luxury accessories retailer’s stock worth $5,612,000 after purchasing an additional 72,623 shares during the period. Allworth Financial LP grew its position in Tapestry by 689.0% during the 1st quarter. Allworth Financial LP now owns 13,374 shares of the luxury accessories retailer’s stock worth $913,000 after purchasing an additional 11,679 shares during the period. Finally, Neo Ivy Capital Management acquired a new stake in Tapestry during the 1st quarter worth about $1,476,000. 90.77% of the stock is owned by institutional investors and hedge funds.

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.