Tapestry (NYSE:TPR) Earns Buy Rating from BTIG Research

Tapestry (NYSE:TPR)‘s stock had its “buy” rating reissued by equities research analysts at BTIG Research in a research report issued to clients and investors on Wednesday,Benzinga reports. They presently have a $180.00 target price on the luxury accessories retailer’s stock. BTIG Research’s price objective indicates a potential upside of 23.78% from the stock’s current price.

Several other analysts have also weighed in on TPR. Sanford C. Bernstein reiterated an “outperform” rating and issued a $180.00 price objective on shares of Tapestry in a research note on Tuesday, June 2nd. Weiss Ratings cut shares of Tapestry from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 20th. Argus set a $165.00 price target on shares of Tapestry in a research note on Thursday, March 12th. JPMorgan Chase & Co. upped their price objective on shares of Tapestry from $190.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Finally, Raymond James Financial reiterated an “outperform” rating and set a $165.00 price objective on shares of Tapestry in a report on Thursday, April 23rd. Two 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. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $161.22.

Tapestry Stock Up 3.2%

Shares of NYSE:TPR opened at $145.42 on Wednesday. Tapestry has a 1 year low of $78.59 and a 1 year high of $161.97. The company has a debt-to-equity ratio of 3.48, a current ratio of 1.84 and a quick ratio of 1.27. The business’s 50-day moving average is $142.02 and its 200-day moving average is $136.98. The company has a market capitalization of $29.38 billion, a price-to-earnings ratio of 46.61, a P/E/G ratio of 1.43 and a beta of 1.42.

Tapestry (NYSE:TPR) last issued its earnings results on Thursday, May 7th. The luxury accessories retailer reported $1.66 earnings per share for the quarter, topping analysts’ consensus estimates of $1.30 by $0.36. Tapestry had a return on equity of 229.70% and a net margin of 8.44%.The business had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.79 billion. During the same period in the previous year, the company posted $1.03 earnings per share. The firm’s revenue for the quarter was up 21.2% on a year-over-year basis. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. Equities research analysts predict that Tapestry will post 6.95 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Todd Kahn sold 19,557 shares of the company’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $140.02, for a total value of $2,738,371.14. Following the sale, the chief executive officer owned 123,258 shares in the company, valued at $17,258,585.16. This represents a 13.69% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Joanne C. Crevoiserat sold 27,776 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $132.89, for a total transaction of $3,691,152.64. Following the completion of the transaction, the chief executive officer directly owned 652,434 shares in the company, valued at approximately $86,701,954.26. The trade was a 4.08% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.32% of the stock is currently owned by company insiders.

Institutional Trading of Tapestry

Several institutional investors and hedge funds have recently modified their holdings of TPR. DV Trading LLC bought a new position in shares of Tapestry in the first quarter valued at approximately $240,000. NewEdge Advisors LLC grew its holdings in Tapestry by 45.7% during the first quarter. NewEdge Advisors LLC now owns 69,817 shares of the luxury accessories retailer’s stock worth $9,852,000 after buying an additional 21,883 shares in the last quarter. Keel Point LLC purchased a new stake in Tapestry in the 1st quarter valued at $222,000. Vestor Capital LLC raised its position in Tapestry by 69.0% in the 1st quarter. Vestor Capital LLC now owns 507 shares of the luxury accessories retailer’s stock valued at $72,000 after buying an additional 207 shares during the last quarter. Finally, Groupe la Francaise bought a new position in Tapestry during the 1st quarter valued at $10,430,000. 90.77% of the stock is owned by hedge funds and other institutional investors.

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.