Tapestry (TPR) – Research Analysts’ Recent Ratings Updates

A number of firms have modified their ratings and price targets on shares of Tapestry (NYSE: TPR) recently:

  • 10/31/2018 – Tapestry had its price target lowered by analysts at Wolfe Research from $55.00 to $45.00. They now have a “peer perform” rating on the stock.
  • 10/31/2018 – Tapestry had its price target lowered by analysts at Credit Suisse Group AG from $61.00 to $54.00. They now have an “outperform” rating on the stock.
  • 10/31/2018 – Tapestry had its price target lowered by analysts at Citigroup Inc from $55.00 to $45.00. They now have a “neutral” rating on the stock.
  • 10/31/2018 – Tapestry had its price target lowered by analysts at Barclays PLC from $55.00 to $51.00. They now have an “equal weight” rating on the stock.
  • 10/31/2018 – Tapestry was given a new $52.00 price target on by analysts at Piper Jaffray Companies. They now have a “buy” rating on the stock.
  • 10/31/2018 – Tapestry had its price target lowered by analysts at Buckingham Research from $53.00 to $48.00. They now have a “buy” rating on the stock.
  • 10/29/2018 – Tapestry had its “buy” rating reaffirmed by analysts at Canaccord Genuity. They now have a $63.00 price target on the stock.
  • 10/17/2018 – Tapestry was upgraded by analysts at Morgan Stanley from an “underweight” rating to an “equal weight” rating.
  • 10/17/2018 – Tapestry had its price target lowered by analysts at Buckingham Research from $62.00 to $53.00. They now have a “buy” rating on the stock.
  • 10/16/2018 – Tapestry was upgraded by analysts at Needham & Company LLC from a “hold” rating to a “buy” rating. They now have a $50.00 price target on the stock. They noted that the move was a valuation call. They noted that the move was a valuation call.
  • 10/15/2018 – Tapestry was downgraded by analysts at Evercore ISI to a “hold” rating.
  • 10/15/2018 – Tapestry was downgraded by analysts at Loop Capital from a “buy” rating to a “hold” rating. They now have a $45.00 price target on the stock, down previously from $59.00.
  • 10/11/2018 – Tapestry was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.

Shares of TPR opened at $42.45 on Wednesday. The company has a quick ratio of 1.83, a current ratio of 2.74 and a debt-to-equity ratio of 0.48. The stock has a market cap of $12.40 billion, a price-to-earnings ratio of 16.14, a price-to-earnings-growth ratio of 1.32 and a beta of 0.70. Tapestry Inc has a 12-month low of $39.28 and a 12-month high of $55.50.

Tapestry (NYSE:TPR) last announced its earnings results on Tuesday, October 30th. The luxury accessories retailer reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.03. The company had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.35 billion. Tapestry had a net margin of 9.00% and a return on equity of 24.73%. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.42 earnings per share. As a group, research analysts anticipate that Tapestry Inc will post 2.78 earnings per share for the current year.

In other news, Director Ivan Menezes sold 2,068 shares of the business’s stock in a transaction that occurred on Friday, August 31st. The shares were sold at an average price of $50.70, for a total value of $104,847.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ian Bickley sold 48,071 shares of the business’s stock in a transaction that occurred on Monday, August 20th. The shares were sold at an average price of $52.13, for a total transaction of $2,505,941.23. The disclosure for this sale can be found here. In the last three months, insiders sold 50,602 shares of company stock valued at $2,633,939. Company insiders own 0.70% of the company’s stock.

Several large investors have recently bought and sold shares of TPR. Voya Investment Management LLC raised its position in shares of Tapestry by 147.7% in the second quarter. Voya Investment Management LLC now owns 5,210,305 shares of the luxury accessories retailer’s stock valued at $243,373,000 after buying an additional 3,107,067 shares during the last quarter. BlackRock Inc. raised its position in shares of Tapestry by 15.5% in the second quarter. BlackRock Inc. now owns 20,772,651 shares of the luxury accessories retailer’s stock valued at $970,290,000 after buying an additional 2,780,915 shares during the last quarter. ANTIPODES PARTNERS Ltd acquired a new position in shares of Tapestry in the second quarter valued at approximately $123,352,000. Janus Henderson Group PLC raised its position in shares of Tapestry by 598.6% in the second quarter. Janus Henderson Group PLC now owns 1,715,712 shares of the luxury accessories retailer’s stock valued at $80,141,000 after buying an additional 1,470,103 shares during the last quarter. Finally, FMR LLC raised its position in shares of Tapestry by 19.8% in the second quarter. FMR LLC now owns 8,097,454 shares of the luxury accessories retailer’s stock valued at $378,232,000 after buying an additional 1,335,513 shares during the last quarter. 90.13% of the stock is owned by institutional investors and hedge funds.

Tapestry, Inc provides luxury accessories and lifestyle brands in the United States, Japan, China, Hong Kong, Macau, East Asia, Europe, Canada, Taiwan, South Korea, Malaysia, and Singapore. It operates through three segments: Coach, Kate Spade, and Stuart Weitzman. The company offers handbags, wallets, money pieces, wristlets and cosmetic cases, key rings, and charms, as well as address books, time management accessories, travel accessories, sketchbooks, and portfolios for women; and business cases, computer bags, messenger-style bags, backpacks, totes, wallets, card cases, travel organizers, belts, footwear, watches, sunglasses, novelty accessories, and ready-to-wear for men.

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