Tapestry (NYSE:TPR) Price Target Raised to $126.00 at Morgan Stanley

Tapestry (NYSE:TPR) had its price target raised by stock analysts at Morgan Stanley from $124.00 to $126.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the luxury accessories retailer’s stock. Morgan Stanley’s price target indicates a potential upside of 27.43% from the company’s previous close.

A number of other brokerages have also issued reports on TPR. Barclays boosted their target price on Tapestry from $111.00 to $127.00 and gave the stock an “overweight” rating in a research report on Thursday, September 11th. The Goldman Sachs Group increased their target price on Tapestry from $116.00 to $130.00 and gave the company a “buy” rating in a report on Monday, October 6th. Raymond James Financial raised their price objective on Tapestry from $115.00 to $130.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 21st. Weiss Ratings reiterated a “hold (c)” rating on shares of Tapestry in a report on Wednesday, October 8th. Finally, Telsey Advisory Group reissued an “outperform” rating and issued a $125.00 price target on shares of Tapestry in a research report on Friday, October 31st. 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 company has an average rating of “Moderate Buy” and an average target price of $116.35.

Tapestry Price Performance

NYSE TPR opened at $98.88 on Friday. The firm has a market capitalization of $20.47 billion, a PE ratio of 156.95, a P/E/G ratio of 2.72 and a beta of 1.71. The company has a debt-to-equity ratio of 2.77, a current ratio of 1.87 and a quick ratio of 1.31. Tapestry has a 12 month low of $49.84 and a 12 month high of $118.56. The company’s 50 day simple moving average is $110.91 and its 200 day simple moving average is $96.89.

Tapestry (NYSE:TPR) last issued its quarterly earnings results on Thursday, November 6th. The luxury accessories retailer reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.13. Tapestry had a return on equity of 68.02% and a net margin of 2.61%.The company had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.63 billion. During the same period last year, the firm earned $0.84 EPS. The firm’s revenue for the quarter was up 13.1% on a year-over-year basis. Tapestry has set its FY 2026 guidance at 5.450-5.600 EPS. As a group, equities research analysts forecast that Tapestry will post 4.91 EPS for the current fiscal year.

Tapestry declared that its Board of Directors has authorized a stock buyback plan on Thursday, November 6th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the luxury accessories retailer to repurchase up to 4.9% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In related news, VP Manesh Dadlani sold 7,882 shares of the business’s stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $99.05, for a total transaction of $780,712.10. Following the completion of the transaction, the vice president owned 21,098 shares of the company’s stock, valued at approximately $2,089,756.90. The trade was a 27.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Alan Ka Ming Lau sold 11,320 shares of the company’s 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 transaction, the director directly owned 8,153 shares in the company, valued at approximately $865,767.07. The trade was a 58.13% decrease in their position. The SEC filing for this sale provides additional information. 1.32% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Cloud Capital Management LLC purchased a new position in Tapestry in the 3rd quarter worth $26,000. First PREMIER Bank bought a new position in Tapestry during the 2nd quarter worth approximately $25,000. Vestor Capital LLC purchased a new position in Tapestry in the 2nd quarter worth approximately $27,000. Flaharty Asset Management LLC purchased a new position in Tapestry in the 1st quarter worth approximately $25,000. Finally, Harbour Investments Inc. lifted its position in Tapestry by 120.1% in the first quarter. Harbour Investments Inc. now owns 361 shares of the luxury accessories retailer’s stock valued at $25,000 after purchasing an additional 197 shares during the last quarter. 90.77% of the stock is currently owned by 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.