Tapestry (NYSE:TPR) PT Raised to $52.00 at The Goldman Sachs Group

Tapestry (NYSE:TPR) had its price objective boosted by equities researchers at The Goldman Sachs Group from $47.00 to $52.00 in a research note issued to investors on Monday, Benzinga reports. The firm presently has a “buy” rating on the luxury accessories retailer’s stock. The Goldman Sachs Group’s price target points to a potential upside of 18.37% from the company’s current price.

A number of other research analysts have also weighed in on the company. Evercore ISI reduced their target price on Tapestry from $53.00 to $47.00 and set an “outperform” rating for the company in a report on Friday, August 9th. Citigroup dropped their price objective on Tapestry from $50.00 to $49.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. JPMorgan Chase & Co. lowered their price target on Tapestry from $54.00 to $51.00 and set an “overweight” rating on the stock in a report on Friday, August 16th. StockNews.com upgraded shares of Tapestry from a “hold” rating to a “buy” rating in a research report on Wednesday, September 25th. Finally, Wells Fargo & Company dropped their target price on shares of Tapestry from $52.00 to $50.00 and set an “overweight” rating for the company in a research report on Friday, August 16th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.43.

Tapestry Price Performance

TPR opened at $43.93 on Monday. The firm has a market cap of $10.09 billion, a P/E ratio of 11.62, a PEG ratio of 1.67 and a beta of 1.53. The company has a debt-to-equity ratio of 2.39, a quick ratio of 4.66 and a current ratio of 5.14. Tapestry has a fifty-two week low of $25.99 and a fifty-two week high of $48.80. The firm has a 50-day moving average of $43.01 and a 200 day moving average of $41.80.

Tapestry (NYSE:TPR) last released its earnings results on Thursday, August 15th. The luxury accessories retailer reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.04. Tapestry had a return on equity of 37.22% and a net margin of 12.23%. The business had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.58 billion. During the same period last year, the business posted $0.95 earnings per share. The business’s revenue for the quarter was down 1.8% on a year-over-year basis. On average, research analysts expect that Tapestry will post 4.47 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Mather Group LLC. lifted its position in Tapestry by 12.9% during the second quarter. Mather Group LLC. now owns 2,181 shares of the luxury accessories retailer’s stock valued at $104,000 after purchasing an additional 249 shares during the period. Legend Financial Advisors Inc. lifted its stake in shares of Tapestry by 1.9% in the 2nd quarter. Legend Financial Advisors Inc. now owns 13,570 shares of the luxury accessories retailer’s stock worth $581,000 after purchasing an additional 257 shares during the period. Empirical Finance LLC boosted its holdings in shares of Tapestry by 3.3% in the first quarter. Empirical Finance LLC now owns 8,742 shares of the luxury accessories retailer’s stock worth $415,000 after buying an additional 276 shares during the last quarter. GAMMA Investing LLC increased its holdings in Tapestry by 4.8% during the third quarter. GAMMA Investing LLC now owns 6,095 shares of the luxury accessories retailer’s stock valued at $286,000 after buying an additional 280 shares during the last quarter. Finally, MUFG Securities EMEA plc grew its position in shares of Tapestry by 34.9% during the 2nd quarter. MUFG Securities EMEA plc now owns 1,226 shares of the luxury accessories retailer’s stock valued at $52,000 after acquiring an additional 317 shares during the period. 90.77% of the stock is owned by hedge funds and other institutional investors.

Tapestry Company Profile

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.