Tapestry (NYSE:TPR) Upgraded at Redburn Atlantic

Tapestry (NYSE:TPR) was upgraded by stock analysts at Redburn Atlantic from a “neutral” rating to a “buy” rating in a report issued on Tuesday,Briefing.com Automated Import reports. The brokerage presently has a $110.00 price target on the luxury accessories retailer’s stock. Redburn Atlantic’s price objective points to a potential upside of 25.46% from the company’s previous close.

A number of other equities research analysts have also recently commented on TPR. Morgan Stanley reiterated an “equal weight” rating and issued a $65.00 target price on shares of Tapestry in a research report on Tuesday, January 21st. UBS Group increased their price objective on shares of Tapestry from $70.00 to $80.00 and gave the company a “neutral” rating in a report on Friday, February 7th. TD Cowen cut Tapestry from a “buy” rating to a “hold” rating and set a $52.00 target price on the stock. in a report on Tuesday, October 29th. Guggenheim increased their price target on Tapestry from $70.00 to $90.00 and gave the company a “buy” rating in a report on Friday, February 7th. Finally, Raymond James reiterated an “outperform” rating and set a $88.00 price objective (up previously from $79.00) on shares of Tapestry in a research report on Friday, February 7th. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $76.63.

Tapestry Trading Up 1.2 %

Shares of Tapestry stock opened at $87.68 on Tuesday. Tapestry has a twelve month low of $35.23 and a twelve month high of $88.07. The firm’s 50-day moving average price is $70.61 and its 200 day moving average price is $55.34. The company has a current ratio of 1.58, a quick ratio of 4.38 and a debt-to-equity ratio of 1.78. The firm has a market capitalization of $20.43 billion, a PE ratio of 25.41, a P/E/G ratio of 2.30 and a beta of 1.58.

Tapestry (NYSE:TPR) last issued its quarterly earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.70 by $0.30. Tapestry had a return on equity of 44.00% and a net margin of 11.74%. During the same period last year, the firm earned $1.63 EPS. On average, sell-side analysts predict that Tapestry will post 4.7 EPS for the current fiscal year.

Hedge Funds Weigh In On Tapestry

Several institutional investors have recently bought and sold shares of TPR. Coppell Advisory Solutions LLC boosted its stake in shares of Tapestry by 40.7% in the fourth quarter. Coppell Advisory Solutions LLC now owns 519 shares of the luxury accessories retailer’s stock valued at $34,000 after purchasing an additional 150 shares during the period. Checchi Capital Advisers LLC boosted its position in Tapestry by 1.9% in the 4th quarter. Checchi Capital Advisers LLC now owns 8,878 shares of the luxury accessories retailer’s stock valued at $580,000 after buying an additional 163 shares during the period. Robeco Institutional Asset Management B.V. grew its stake in shares of Tapestry by 0.9% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 19,303 shares of the luxury accessories retailer’s stock worth $1,261,000 after acquiring an additional 170 shares in the last quarter. Parkside Financial Bank & Trust increased its position in shares of Tapestry by 13.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,586 shares of the luxury accessories retailer’s stock worth $104,000 after acquiring an additional 182 shares during the period. Finally, E Fund Management Co. Ltd. boosted its holdings in Tapestry by 1.6% in the fourth quarter. E Fund Management Co. Ltd. now owns 12,744 shares of the luxury accessories retailer’s stock valued at $833,000 after purchasing an additional 200 shares during the period. 90.77% of the stock is owned by institutional investors and hedge funds.

About Tapestry

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.