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.

Tapestry (NYSE:TPR) last announced its earnings results on Tuesday, February 6th. The luxury accessories retailer reported $1.07 EPS for the quarter, topping the consensus estimate of $0.86 by $0.21. The firm had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.77 billion. Tapestry had a net margin of 6.14% and a return on equity of 23.68%. The business’s quarterly revenue was up 35.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.75 EPS. analysts expect that Tapestry will post 2.5 earnings per share for the current fiscal year.

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.

COPYRIGHT VIOLATION NOTICE: “Tapestry (TPR) Price Target Raised to $53.00 at Royal Bank of Canada” was originally reported by Daily Political and is owned by of Daily Political. If you are accessing this report on another website, it was copied illegally and reposted in violation of U.S. and international copyright & trademark legislation. The legal version of this report can be accessed at https://www.dailypolitical.com/2018/02/09/tapestry-tpr-price-target-raised-to-53-00-at-royal-bank-of-canada.html.

About Tapestry

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.

The Fly

Analyst Recommendations for Tapestry (NYSE:TPR)

Receive News & Ratings for Tapestry Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tapestry and related companies with MarketBeat.com's FREE daily email newsletter.