Robert W. Baird set a $43.00 price target on Tapestry (NYSE:TPR) in a research note published on Monday, TipRanks reports. The firm currently has a buy rating on the luxury accessories retailer’s stock.
Other equities research analysts also recently issued reports about the company. Zacks Investment Research upgraded Tapestry from a sell rating to a hold rating and set a $29.00 price target for the company in a research note on Tuesday, August 6th. Piper Jaffray Companies set a $40.00 price target on Tapestry and gave the company a buy rating in a research note on Monday, June 10th. Standpoint Research upgraded Tapestry from a hold rating to a buy rating in a research note on Thursday, May 9th. Canaccord Genuity restated a buy rating and set a $41.00 price target on shares of Tapestry in a research note on Friday, May 10th. Finally, Bank of America set a $48.00 price target on Tapestry and gave the company a buy rating in a research note on Friday, May 10th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-two have assigned a buy rating to the stock. Tapestry has an average rating of Buy and a consensus price target of $46.35.
NYSE TPR traded down $1.71 during trading hours on Monday, hitting $25.00. The company’s stock had a trading volume of 6,488,130 shares, compared to its average volume of 4,374,128. Tapestry has a 12 month low of $24.75 and a 12 month high of $52.83. The stock has a 50 day moving average price of $29.88. The company has a market capitalization of $7.38 billion, a P/E ratio of 9.53, a P/E/G ratio of 0.90 and a beta of 0.88. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.86 and a current ratio of 2.67.
In other Tapestry news, Director Darrell Cavens purchased 7,000 shares of the stock in a transaction that occurred on Tuesday, May 28th. The shares were bought at an average cost of $30.01 per share, with a total value of $210,070.00. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Annabelle Yu Long sold 3,229 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $28.93, for a total value of $93,414.97. The disclosure for this sale can be found here. Insiders own 0.70% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of TPR. Nisa Investment Advisors LLC raised its holdings in shares of Tapestry by 20.6% during the 1st quarter. Nisa Investment Advisors LLC now owns 95,224 shares of the luxury accessories retailer’s stock worth $3,094,000 after acquiring an additional 16,255 shares in the last quarter. Pennsylvania Trust Co purchased a new stake in shares of Tapestry during the 1st quarter worth approximately $14,426,000. Marshall Wace North America L.P. raised its holdings in shares of Tapestry by 88.7% during the 1st quarter. Marshall Wace North America L.P. now owns 213,963 shares of the luxury accessories retailer’s stock worth $6,951,000 after acquiring an additional 100,571 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Tapestry by 178.8% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 324,534 shares of the luxury accessories retailer’s stock worth $10,544,000 after acquiring an additional 208,123 shares in the last quarter. Finally, Systematic Financial Management LP raised its holdings in shares of Tapestry by 65.9% during the 1st quarter. Systematic Financial Management LP now owns 13,600 shares of the luxury accessories retailer’s stock worth $442,000 after acquiring an additional 5,400 shares in the last quarter. 87.42% of the stock is currently owned by institutional investors.
Tapestry Company Profile
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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