Tapestry (NYSE:TPR – Get Free Report) had its price objective lifted by equities research analysts at Bernstein Bank from $46.00 to $48.00 in a research report issued on Thursday. Bernstein Bank’s price target would indicate a potential upside of 23.36% from the company’s previous close.
A number of other research firms also recently weighed in on TPR. The Goldman Sachs Group increased their target price on shares of Tapestry from $41.00 to $47.00 and gave the company a “buy” rating in a research report on Friday, February 9th. Jefferies Financial Group downgraded shares of Tapestry from a “buy” rating to a “hold” rating and set a $50.00 target price for the company. in a research report on Thursday, February 29th. Evercore ISI raised shares of Tapestry from an “in-line” rating to an “outperform” rating and raised their price objective for the stock from $30.00 to $50.00 in a research report on Monday, February 5th. Wells Fargo & Company raised their price objective on shares of Tapestry from $50.00 to $60.00 and gave the stock an “overweight” rating in a research report on Friday, February 2nd. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and set a $54.00 price objective on shares of Tapestry in a research report on Wednesday, March 27th. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $47.82.
View Our Latest Analysis on TPR
Tapestry Trading Down 0.2 %
Tapestry (NYSE:TPR – Get Free Report) last released its earnings results on Thursday, May 9th. The luxury accessories retailer reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.14. The business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.50 billion. Tapestry had a net margin of 13.80% and a return on equity of 41.75%. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.78 EPS. Sell-side analysts expect that Tapestry will post 4.23 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Tapestry
Several large investors have recently added to or reduced their stakes in TPR. Balyasny Asset Management L.P. purchased a new stake in Tapestry in the 4th quarter worth about $102,531,000. Capital Research Global Investors boosted its position in shares of Tapestry by 77.2% during the 4th quarter. Capital Research Global Investors now owns 5,748,737 shares of the luxury accessories retailer’s stock valued at $211,611,000 after acquiring an additional 2,504,135 shares during the last quarter. Norges Bank bought a new stake in shares of Tapestry during the 4th quarter valued at about $79,352,000. Fiera Capital Corp bought a new stake in shares of Tapestry during the 4th quarter valued at about $52,121,000. Finally, Invesco Ltd. boosted its position in shares of Tapestry by 37.8% during the 3rd quarter. Invesco Ltd. now owns 4,394,913 shares of the luxury accessories retailer’s stock valued at $126,354,000 after acquiring an additional 1,205,207 shares during the last quarter. 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.
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