Tapestry (NYSE:TPR) Rating Increased to Buy at Redburn Atlantic

Tapestry (NYSE:TPR - Get Free Report) was upgraded by investment analysts at Redburn Atlantic from a "neutral" rating to a "buy" rating in a report issued on Tuesday, Marketbeat Ratings reports. The brokerage presently has a $110.00 price objective on the luxury accessories retailer's stock. Redburn Atlantic's price objective suggests a potential upside of 30.03% from the stock's current price.

A number of other analysts have also recently weighed in on TPR. JPMorgan Chase & Co. raised their price objective on Tapestry from $88.00 to $104.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 12th. BMO Capital Markets raised their target price on Tapestry from $55.00 to $60.00 and gave the stock a "market perform" rating in a research note on Monday, November 18th. Raymond James restated an "outperform" rating and issued a $88.00 target price (up previously from $79.00) on shares of Tapestry in a research note on Friday, February 7th. Robert W. Baird raised their target price on Tapestry from $58.00 to $64.00 and gave the stock an "outperform" rating in a research note on Friday, November 15th. Finally, Barclays raised 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. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $78.53.

Tapestry Stock Down 2.2 %

Shares of Tapestry stock traded down $1.92 during trading on Tuesday, reaching $84.60. The company's stock had a trading volume of 3,583,160 shares, compared to its average volume of 5,112,137. The company has a quick ratio of 1.05, a current ratio of 1.58 and a debt-to-equity ratio of 1.78. The company has a market cap of $17.51 billion, a price-to-earnings ratio of 24.52, a P/E/G ratio of 2.07 and a beta of 1.58. Tapestry has a 1-year low of $35.23 and a 1-year high of $90.85. The company has a 50-day simple moving average of $72.63 and a two-hundred day simple moving average of $56.48.

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

Institutional Investors Weigh In On Tapestry

Institutional investors have recently modified their holdings of the business. Greenline Partners LLC acquired a new stake in shares of Tapestry during the 4th quarter valued at about $29,000. Coppell Advisory Solutions LLC grew its position in shares of Tapestry by 40.7% during the 4th quarter. Coppell Advisory Solutions LLC now owns 519 shares of the luxury accessories retailer's stock valued at $34,000 after acquiring an additional 150 shares during the period. Waldron Private Wealth LLC acquired a new stake in shares of Tapestry during the 3rd quarter valued at about $25,000. Venturi Wealth Management LLC grew its position in shares of Tapestry by 78.0% during the 4th quarter. Venturi Wealth Management LLC now owns 575 shares of the luxury accessories retailer's stock valued at $38,000 after acquiring an additional 252 shares during the period. Finally, Canada Post Corp Registered Pension Plan acquired a new stake in Tapestry in the 4th quarter worth about $48,000. 90.77% of the stock is currently owned by institutional investors and hedge funds.

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.