Tapestry (TPR) Upgraded to B by TheStreet

TheStreet upgraded shares of Tapestry (NYSE:TPR) from a c+ rating to a b rating in a research report sent to investors on Tuesday.

Several other equities analysts have also recently commented on the company. Barclays boosted their target price on Tapestry from $47.00 to $51.00 and gave the stock an equal weight rating in a research report on Wednesday. Buckingham Research boosted their target price on Tapestry from $55.00 to $56.00 and gave the stock a buy rating in a research report on Wednesday. BMO Capital Markets boosted their target price on Tapestry from $42.00 to $46.00 and gave the stock a market perform rating in a research report on Wednesday. Bank of America boosted their target price on Tapestry from $47.00 to $50.00 and gave the stock a neutral rating in a research report on Wednesday. Finally, KeyCorp boosted their target price on Tapestry from $53.00 to $59.00 and gave the stock an overweight rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $50.23.

Tapestry (NYSE:TPR) opened at $48.85 on Tuesday. Tapestry has a 52-week low of $36.69 and a 52-week high of $50.71. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.25 and a current ratio of 1.90. The company has a market capitalization of $13,890.00, a PE ratio of 43.62, a P/E/G ratio of 1.75 and a beta of 0.59.

Tapestry (NYSE:TPR) last posted its earnings results on Tuesday, February 6th. The luxury accessories retailer reported $1.07 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.21. Tapestry had a return on equity of 23.68% and a net margin of 6.14%. The business had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.77 billion. During the same period in the previous year, the business earned $0.75 earnings per share. The firm’s revenue was up 35.1% on a year-over-year basis. equities research analysts predict that Tapestry will post 2.5 EPS for the current year.

A number of hedge funds have recently modified their holdings of the stock. New Mexico Educational Retirement Board boosted its holdings in Tapestry by 4.2% during the 4th quarter. New Mexico Educational Retirement Board now owns 27,198 shares of the luxury accessories retailer’s stock valued at $1,203,000 after acquiring an additional 1,100 shares during the period. Hexavest Inc. bought a new position in Tapestry during the 4th quarter valued at approximately $106,000. First Dallas Securities Inc. bought a new position in Tapestry during the 4th quarter valued at approximately $108,000. Dupont Capital Management Corp bought a new position in Tapestry during the 4th quarter valued at approximately $110,000. Finally, Cerebellum GP LLC bought a new position in Tapestry during the 4th quarter valued at approximately $118,000. Institutional investors own 88.00% of the company’s stock.

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Tapestry Company Profile

Tapestry, Inc, formerly Coach, Inc, is a design house of luxury accessories and lifestyle collections. The Company’s product offering uses a range of leathers, fabrics and materials. The Company’s brands include Coach, Kate Spade, and Stuart Weitzman. Its segments include North America, International and Stuart Weitzman.

Analyst Recommendations for Tapestry (NYSE:TPR)

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