Tapestry (NYSE:TPR) Given New $70.00 Price Target at UBS Group

Tapestry (NYSE:TPR - Get Free Report) had its price objective upped by equities research analysts at UBS Group from $57.00 to $70.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a "neutral" rating on the luxury accessories retailer's stock. UBS Group's target price would suggest a potential upside of 4.09% from the stock's current price.

Other equities analysts also recently issued research reports about the company. BMO Capital Markets upped their target price on Tapestry from $55.00 to $60.00 and gave the company a "market perform" rating in a report on Monday, November 18th. TD Cowen downgraded Tapestry from a "buy" rating to a "hold" rating and set a $52.00 target price for the company. in a report on Tuesday, October 29th. StockNews.com downgraded Tapestry from a "buy" rating to a "hold" rating in a report on Monday, October 28th. Evercore ISI upped their target price on Tapestry from $47.00 to $63.00 and gave the company an "outperform" rating in a report on Friday, October 25th. Finally, Citigroup upped their target price on Tapestry from $49.00 to $55.00 and gave the company a "buy" rating in a report on Friday, October 25th. Five investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $64.76.

Tapestry Trading Down 1.9 %

TPR stock traded down $1.28 during midday trading on Friday, hitting $67.25. The company had a trading volume of 4,858,567 shares, compared to its average volume of 4,034,161. The company has a current ratio of 4.93, a quick ratio of 4.38 and a debt-to-equity ratio of 2.35. Tapestry has a 52 week low of $35.23 and a 52 week high of $69.09. The stock's 50 day moving average price is $60.62 and its 200 day moving average price is $48.76. The stock has a market cap of $15.67 billion, a price-to-earnings ratio of 19.44, a PEG ratio of 1.80 and a beta of 1.58.

Insider Transactions at Tapestry

In other news, VP Manesh Dadlani sold 8,872 shares of the company'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 transaction, the vice president now directly owns 35,003 shares of the company's stock, valued at $2,028,773.88. This represents a 20.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 1.18% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Pacer Advisors Inc. raised its stake in shares of Tapestry by 53.1% in the second quarter. Pacer Advisors Inc. now owns 6,020,625 shares of the luxury accessories retailer's stock worth $257,623,000 after buying an additional 2,087,586 shares during the period. Erste Asset Management GmbH bought a new position in shares of Tapestry in the third quarter worth about $64,016,000. AQR Capital Management LLC raised its stake in shares of Tapestry by 235.9% in the second quarter. AQR Capital Management LLC now owns 1,497,514 shares of the luxury accessories retailer's stock worth $61,578,000 after buying an additional 1,051,743 shares during the period. Bank of Montreal Can raised its stake in shares of Tapestry by 76.6% in the third quarter. Bank of Montreal Can now owns 1,244,070 shares of the luxury accessories retailer's stock worth $59,641,000 after buying an additional 539,793 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Tapestry by 3.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 7,614,558 shares of the luxury accessories retailer's stock worth $357,732,000 after buying an additional 272,007 shares during the period. Institutional investors own 90.77% of the company's stock.

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.