Bernstein Bank Raises Tapestry (NYSE:TPR) Price Target to $48.00

Tapestry (NYSE:TPR) had its price objective lifted by analysts at Bernstein Bank from $46.00 to $48.00 in a note issued to investors on Thursday. Bernstein Bank’s price target would suggest a potential upside of 23.36% from the company’s current price.

Other research analysts have also recently issued reports about the company. Telsey Advisory Group reissued an “outperform” rating and issued a $54.00 target price on shares of Tapestry in a research report on Wednesday, March 27th. StockNews.com raised Tapestry from a “hold” rating to a “buy” rating in a research report on Thursday, April 18th. Evercore ISI raised Tapestry from an “in-line” rating to an “outperform” rating and raised their target price for the stock from $30.00 to $50.00 in a research report on Monday, February 5th. OTR Global reissued a “mixed” rating on shares of Tapestry in a research report on Wednesday, April 17th. Finally, The Goldman Sachs Group raised their price objective on Tapestry from $41.00 to $47.00 and gave the stock a “buy” rating in a research note on Friday, February 9th. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.82.

Tapestry Stock Performance

Shares of Tapestry stock traded down $0.07 during trading on Thursday, hitting $38.91. 687,172 shares of the company’s stock traded hands, compared to its average volume of 3,798,218. The company has a debt-to-equity ratio of 2.90, a current ratio of 6.25 and a quick ratio of 5.68. Tapestry has a 1 year low of $25.99 and a 1 year high of $48.80. The stock has a market capitalization of $8.92 billion, a P/E ratio of 9.83, a PEG ratio of 0.81 and a beta of 1.61. The business has a 50-day simple moving average of $43.78 and a 200-day simple moving average of $38.63.

Tapestry (NYSE:TPR) last released its quarterly earnings data on Thursday, May 9th. The luxury accessories retailer reported $0.81 EPS for the quarter, beating the consensus estimate of $0.67 by $0.14. Tapestry had a return on equity of 41.75% and a net margin of 13.80%. The company had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.50 billion. During the same period last year, the firm posted $0.78 earnings per share. Tapestry’s revenue was down 2.0% compared to the same quarter last year. As a group, analysts forecast that Tapestry will post 4.23 EPS for the current year.

Institutional Trading of Tapestry

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Fidelis Capital Partners LLC purchased a new position in Tapestry during the 1st quarter valued at approximately $35,000. BNP Paribas purchased a new stake in shares of Tapestry during the 1st quarter worth $38,000. Bell Investment Advisors Inc raised its stake in Tapestry by 718.1% in the third quarter. Bell Investment Advisors Inc now owns 949 shares of the luxury accessories retailer’s stock valued at $27,000 after buying an additional 833 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in Tapestry by 3,778.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,241 shares of the luxury accessories retailer’s stock valued at $46,000 after buying an additional 1,209 shares during the last quarter. Finally, Atlas Capital Advisors LLC purchased a new stake in Tapestry in the first quarter valued at about $69,000. 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.