Tapestry, Inc. (NYSE:TPR) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Tapestry, Inc. (NYSE:TPR) has been given an average rating of “Moderate Buy” by the twenty analysts that are covering the firm, Marketbeat reports. Four investment analysts have rated the stock with a hold recommendation, fifteen have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $175.4375.

A number of research analysts have weighed in on TPR shares. Raymond James Financial restated an “outperform” rating and issued a $165.00 price objective on shares of Tapestry in a report on Thursday, April 23rd. Morgan Stanley reaffirmed an “overweight” rating and set a $164.00 target price on shares of Tapestry in a report on Monday, July 6th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $180.00 target price on shares of Tapestry in a research report on Tuesday, June 2nd. JPMorgan Chase & Co. raised their price target on shares of Tapestry from $205.00 to $211.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 4th. Finally, Robert W. Baird boosted their price target on shares of Tapestry from $160.00 to $165.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 29th.

Insider Buying and Selling

In other Tapestry news, CEO Todd Kahn sold 19,557 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief executive officer directly owned 123,258 shares of the company’s stock, valued at $17,258,585.16. This trade represents a 13.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.32% of the company’s stock.

Institutional Investors Weigh In On Tapestry

Large investors have recently made changes to their positions in the stock. Keating Financial Advisory Services Inc. purchased a new stake in Tapestry in the 2nd quarter valued at $31,000. Acumen Wealth Advisors LLC purchased a new position in shares of Tapestry during the 4th quarter worth $28,000. Virtus Advisers LLC purchased a new position in shares of Tapestry during the 2nd quarter worth $32,000. Steph & Co. boosted its position in shares of Tapestry by 128.7% during the 4th quarter. Steph & Co. now owns 231 shares of the luxury accessories retailer’s stock valued at $30,000 after acquiring an additional 130 shares during the last quarter. Finally, Flagship Harbor Advisors LLC acquired a new position in shares of Tapestry during the 4th quarter valued at about $31,000. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Tapestry Stock Performance

Shares of NYSE:TPR opened at $153.57 on Thursday. 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 price is $146.94 and its 200-day moving average price is $144.75. The firm has a market capitalization of $31.03 billion, a PE ratio of 49.22, a P/E/G ratio of 1.46 and a beta of 1.43. Tapestry has a 1 year low of $92.62 and a 1 year high of $164.80.

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.