Tapestry (NYSE:TPR) Stock Rating Upgraded by Daiwa Securities Group

Tapestry (NYSE:TPR) was upgraded by Daiwa Securities Group from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

A number of other equities analysts have also recently commented on the company. Morgan Stanley lowered their price target on Tapestry from $164.00 to $159.00 and set an “overweight” rating for the company in a report on Friday. JPMorgan Chase & Co. raised their price objective on Tapestry from $205.00 to $211.00 and gave the company an “overweight” rating in a research note on Tuesday, August 4th. Citigroup lifted their target price on Tapestry from $165.00 to $170.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Barclays increased their target price on shares of Tapestry from $182.00 to $185.00 and gave the stock an “overweight” rating in a report on Friday. Finally, Telsey Advisory Group raised their price target on shares of Tapestry from $160.00 to $175.00 and gave the company an “outperform” rating in a research note on Thursday, August 6th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Tapestry has a consensus rating of “Moderate Buy” and an average target price of $175.12.

Tapestry Stock Performance

NYSE TPR opened at $132.23 on Monday. The firm’s 50 day simple moving average is $145.97 and its 200 day simple moving average is $144.81. The firm has a market capitalization of $26.37 billion, a price-to-earnings ratio of 18.14, a P/E/G ratio of 1.15 and a beta of 1.43. The company has a current ratio of 1.75, a quick ratio of 1.25 and a debt-to-equity ratio of 3.44. Tapestry has a 1 year low of $93.00 and a 1 year high of $164.80.

Tapestry (NYSE:TPR) last announced its quarterly earnings data on Thursday, August 13th. The luxury accessories retailer reported $1.32 EPS for the quarter, beating the consensus estimate of $1.28 by $0.04. Tapestry had a net margin of 19.09% and a return on equity of 254.95%. The business had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same period in the previous year, the business earned $1.04 earnings per share. The company’s revenue was up 8.9% on a year-over-year basis. Tapestry has set its FY 2027 guidance at 7.800-7.900 EPS. As a group, research analysts expect that Tapestry will post 7.96 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Tapestry news, CEO Todd Kahn sold 19,557 shares of the company’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $140.02, for a total value of $2,738,371.14. Following the completion of the transaction, the chief executive officer owned 123,258 shares of the company’s stock, valued at $17,258,585.16. This represents a 13.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.32% of the stock is owned by corporate insiders.

Institutional Trading of Tapestry

A number of hedge funds have recently made changes to their positions in the company. Eurizon Capital SGR S.p.A. bought a new stake in Tapestry in the fourth quarter valued at approximately $8,109,000. Norges Bank acquired a new stake in Tapestry during the 4th quarter valued at approximately $345,349,000. Keystone Investors PTE Ltd. raised its holdings in Tapestry by 17.4% during the 4th quarter. Keystone Investors PTE Ltd. now owns 62,622 shares of the luxury accessories retailer’s stock worth $8,001,000 after purchasing an additional 9,303 shares during the last quarter. SEB Asset Management AB acquired a new position in shares of Tapestry in the 1st quarter worth approximately $59,525,000. Finally, North Dakota State Investment Board acquired a new position in shares of Tapestry in the 4th quarter worth approximately $2,417,000. 90.77% of the stock is owned by institutional investors and hedge funds.

Tapestry Company Profile

Tapestry, Inc is a New York City–based house of fashion brands that designs, produces and distributes a range of accessible luxury and lifestyle products. The company manages a portfolio led by Coach, along with Kate Spade New York and Stuart Weitzman, each offering distinct product lines that include handbags and leather goods, footwear, ready-to-wear apparel, accessories, small leather goods, jewelry and lifestyle items. Tapestry’s operations encompass product design, marketing, wholesale partnerships, retail store operations and digital commerce.

Historically, the Coach brand traces its roots to a leather workshop in New York dating to the mid-20th century.