StockNews.com Upgrades Tapestry (NYSE:TPR) to Buy

Tapestry (NYSE:TPR - Get Free Report) was upgraded by research analysts at StockNews.com from a "hold" rating to a "buy" rating in a report issued on Monday.

Several other brokerages have also issued reports on TPR. Evercore ISI lifted their price target on Tapestry from $68.00 to $74.00 and gave the stock an "outperform" rating in a research note on Monday, January 27th. Barclays upped their target price on Tapestry from $87.00 to $100.00 and gave the stock an "overweight" rating in a research note on Friday, February 7th. Robert W. Baird lifted their price target on shares of Tapestry from $93.00 to $100.00 and gave the stock an "outperform" rating in a research note on Thursday, February 20th. JPMorgan Chase & Co. boosted their price objective on shares of Tapestry from $88.00 to $104.00 and gave the stock an "overweight" rating in a report on Wednesday, February 12th. Finally, UBS Group increased their target price on shares of Tapestry from $70.00 to $80.00 and gave the company a "neutral" rating in a report on Friday, February 7th. Five research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $78.53.

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Tapestry Price Performance

Shares of TPR stock traded down $1.46 on Monday, reaching $63.63. The company's stock had a trading volume of 6,776,008 shares, compared to its average volume of 4,047,511. The company has a market capitalization of $13.17 billion, a P/E ratio of 18.44, a PEG ratio of 2.01 and a beta of 1.57. Tapestry has a 12-month low of $35.23 and a 12-month high of $90.85. The stock's 50 day simple moving average is $77.46 and its 200-day simple moving average is $63.60. The company has a quick ratio of 1.05, a current ratio of 1.58 and a debt-to-equity ratio of 1.78.

Tapestry (NYSE:TPR - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 EPS for the quarter, topping analysts' consensus estimates of $1.70 by $0.30. Tapestry had a net margin of 11.74% and a return on equity of 44.00%. During the same period last year, the business posted $1.63 EPS. As a group, equities analysts predict that Tapestry will post 4.91 earnings per share for the current fiscal year.

Insider Activity

In other news, General Counsel David E. Howard sold 11,917 shares of the stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $88.00, for a total value of $1,048,696.00. Following the sale, the general counsel now owns 38,609 shares in the company, valued at $3,397,592. This represents a 23.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Todd Kahn sold 7,786 shares of the stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $87.59, for a total value of $681,975.74. Following the sale, the chief executive officer now directly owns 201,531 shares in the company, valued at $17,652,100.29. This represents a 3.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 66,537 shares of company stock worth $5,730,589. Insiders own 1.18% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TPR. Apollon Wealth Management LLC acquired a new stake in shares of Tapestry in the fourth quarter valued at about $328,000. Charles Schwab Investment Management Inc. lifted its stake in Tapestry by 5.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,997,414 shares of the luxury accessories retailer's stock valued at $522,471,000 after buying an additional 382,856 shares in the last quarter. Decker Retirement Planning Inc. acquired a new stake in Tapestry in the 4th quarter worth about $3,437,000. Principal Financial Group Inc. increased its stake in Tapestry by 14.6% during the 4th quarter. Principal Financial Group Inc. now owns 309,119 shares of the luxury accessories retailer's stock worth $20,195,000 after buying an additional 39,298 shares in the last quarter. Finally, Pzena Investment Management LLC acquired a new position in shares of Tapestry during the fourth quarter valued at approximately $18,737,000. Hedge funds and other 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.