Tapestry (TPR) Price Target Raised to $53.00 at Royal Bank of Canada
Tapestry (NYSE:TPR) had its target price hoisted by stock analysts at Royal Bank of Canada to $53.00 in a research note issued on Wednesday, The Fly reports. The firm currently has an “outperform” rating on the luxury accessories retailer’s stock. Royal Bank of Canada’s price target would suggest a potential upside of 8.50% from the company’s previous close.
Several other brokerages also recently commented on TPR. KeyCorp set a $53.00 target price on shares of Tapestry and gave the stock a “buy” rating in a report on Wednesday, October 11th. Needham & Company LLC started coverage on shares of Tapestry in a research report on Monday, December 18th. They issued a “hold” rating on the stock. UBS Group decreased their price target on shares of Tapestry from $50.00 to $48.00 and set a “buy” rating on the stock in a research report on Wednesday, November 8th. Canaccord Genuity set a $58.00 price target on shares of Tapestry and gave the stock a “buy” rating in a research report on Monday. Finally, Piper Jaffray Companies upgraded shares of Tapestry from a “neutral” rating to an “overweight” rating and set a $54.00 price target on the stock in a research report on Tuesday. One analyst has rated the stock with a sell rating, eight have issued a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $50.23.
Tapestry (TPR) opened at $48.85 on Wednesday. The company has a market cap of $13,890.00, a price-to-earnings ratio of 43.62, a P/E/G ratio of 1.75 and a beta of 0.59. Tapestry has a twelve month low of $36.69 and a twelve month high of $50.71. The company has a quick ratio of 1.25, a current ratio of 1.90 and a debt-to-equity ratio of 0.64.
Several institutional investors have recently modified their holdings of TPR. Hexavest Inc. acquired a new stake in shares of Tapestry during the 4th quarter valued at about $106,000. First Dallas Securities Inc. acquired a new stake in shares of Tapestry during the 4th quarter valued at about $108,000. Dupont Capital Management Corp acquired a new stake in shares of Tapestry during the 4th quarter valued at about $110,000. Cerebellum GP LLC acquired a new stake in shares of Tapestry during the 4th quarter valued at about $118,000. Finally, American Research & Management Co. acquired a new stake in shares of Tapestry during the 4th quarter valued at about $129,000. Institutional investors and hedge funds own 88.00% of the company’s stock.
Tapestry, Inc, formerly Coach, Inc, is a design house of luxury accessories and lifestyle collections. The Company’s product offering uses a range of leathers, fabrics and materials. The Company’s brands include Coach, Kate Spade, and Stuart Weitzman. Its segments include North America, International and Stuart Weitzman.
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