Tapestry (NYSE:TPR) was upgraded by analysts at Goldman Sachs Group from a “buy” rating to a “conviction-buy” rating in a research note issued on Tuesday.

TPR has been the subject of several other research reports. Cowen restated a “buy” rating and issued a $46.00 price target on shares of Tapestry in a report on Thursday, September 28th. Susquehanna Bancshares assumed coverage on shares of Tapestry in a report on Thursday, November 2nd. They issued a “positive” rating and a $50.00 price target for the company. Credit Suisse Group restated an “outperform” rating and issued a $51.00 price target (down previously from $55.00) on shares of Tapestry in a report on Wednesday, August 16th. Citigroup assumed coverage on shares of Tapestry in a report on Thursday, November 2nd. They issued a “positive” rating and a $50.00 price target for the company. Finally, Sanford C. Bernstein assumed coverage on shares of Tapestry in a report on Tuesday, September 12th. They issued an “outperform” rating and a $51.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $47.70.

Shares of Tapestry (NYSE TPR) opened at $41.71 on Tuesday. Tapestry has a twelve month low of $34.16 and a twelve month high of $48.85. The firm has a market cap of $11,844.23, a PE ratio of 19.55, a P/E/G ratio of 1.56 and a beta of 0.46. The company has a current ratio of 1.74, a quick ratio of 1.25 and a debt-to-equity ratio of 0.64.

Tapestry (NYSE:TPR) last announced its quarterly earnings data on Tuesday, November 7th. The luxury accessories retailer reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.06. Tapestry had a net margin of 9.62% and a return on equity of 20.71%. The company had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same quarter last year, the business posted $0.45 EPS. The firm’s revenue for the quarter was up 24.2% on a year-over-year basis. equities analysts forecast that Tapestry will post 2.37 earnings per share for the current fiscal year.

In other news, SVP Melinda Brown sold 8,250 shares of the company’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $41.28, for a total value of $340,560.00. Following the sale, the senior vice president now directly owns 42,884 shares of the company’s stock, valued at approximately $1,770,251.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.98% of the stock is owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in TPR. Point View Wealth Management Inc. purchased a new stake in shares of Tapestry in the 3rd quarter valued at $552,000. LMR Partners LLP purchased a new stake in Tapestry during the third quarter worth $229,000. M&R Capital Management Inc. purchased a new stake in Tapestry during the third quarter worth $153,000. Capital International Investors purchased a new stake in Tapestry during the third quarter worth $25,376,000. Finally, Afam Capital Inc. purchased a new stake in Tapestry during the third quarter worth $6,945,000. 88.10% of the stock is currently owned by institutional investors and hedge funds.

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About Tapestry

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‚Äôs 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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