Consumer Edge upgraded shares of Tapestry (NYSE:TPR) from a neutral rating to an outperform rating in a research report sent to investors on Thursday morning, Marketbeat Ratings reports.

A number of other research analysts have also weighed in on the stock. Barclays decreased their price target on shares of Tapestry from $55.00 to $51.00 and set an equal weight rating on the stock in a research note on Wednesday, October 31st. Macquarie started coverage on shares of Tapestry in a research note on Monday, November 12th. They issued a neutral rating and a $49.00 price target on the stock. Needham & Company LLC raised shares of Tapestry from a hold rating to a buy rating and set a $50.00 price target on the stock in a research note on Tuesday, October 16th. They noted that the move was a valuation call. Wells Fargo & Co decreased their price target on shares of Tapestry from $58.00 to $45.00 and set an outperform rating on the stock in a research note on Wednesday, January 2nd. Finally, Citigroup decreased their price target on shares of Tapestry from $55.00 to $45.00 and set a neutral rating on the stock in a research note on Wednesday, October 31st. One analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-two have assigned a buy rating to the stock. Tapestry currently has an average rating of Buy and an average target price of $49.93.

TPR stock opened at $33.86 on Thursday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.83 and a current ratio of 2.62. Tapestry has a 52-week low of $31.91 and a 52-week high of $55.50. The stock has a market cap of $9.81 billion, a PE ratio of 12.87, a PEG ratio of 1.15 and a beta of 0.76.

Tapestry (NYSE:TPR) last issued its quarterly earnings results on Thursday, February 7th. The luxury accessories retailer reported $1.07 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.11 by ($0.04). The company had revenue of $1.80 billion during the quarter, compared to analysts’ expectations of $1.86 billion. Tapestry had a net margin of 12.18% and a return on equity of 23.84%. The company’s quarterly revenue was up .9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.07 earnings per share. Sell-side analysts forecast that Tapestry will post 2.62 earnings per share for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the business. Oregon Public Employees Retirement Fund raised its holdings in Tapestry by 1,484.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,213,009 shares of the luxury accessories retailer’s stock valued at $36,000 after acquiring an additional 1,136,452 shares during the last quarter. Pearl River Capital LLC acquired a new stake in Tapestry in the 4th quarter valued at about $66,000. Moody National Bank Trust Division raised its holdings in Tapestry by 21.2% in the 4th quarter. Moody National Bank Trust Division now owns 2,096 shares of the luxury accessories retailer’s stock valued at $70,000 after acquiring an additional 366 shares during the last quarter. ETF Managers Group LLC raised its holdings in Tapestry by 18.0% in the 4th quarter. ETF Managers Group LLC now owns 2,523 shares of the luxury accessories retailer’s stock valued at $85,000 after acquiring an additional 384 shares during the last quarter. Finally, Meeder Asset Management Inc. acquired a new stake in Tapestry in the 4th quarter valued at about $105,000. Institutional investors own 89.44% of the company’s stock.

Tapestry Company Profile

Tapestry, Inc provides luxury accessories and lifestyle brands in the United States, Japan, China, Hong Kong, Macau, East Asia, Europe, Canada, Taiwan, South Korea, Malaysia, and Singapore. It operates through three segments: Coach, Kate Spade, and Stuart Weitzman. The company offers handbags, wallets, money pieces, wristlets and cosmetic cases, key rings, and charms, as well as address books, time management accessories, travel accessories, sketchbooks, and portfolios for women; and business cases, computer bags, messenger-style bags, backpacks, totes, wallets, card cases, travel organizers, belts, footwear, watches, sunglasses, novelty accessories, and ready-to-wear for men.

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Analyst Recommendations for Tapestry (NYSE:TPR)

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