Tapestry (NYSE:TPR) Rating Reiterated by OTR Global

Tapestry (NYSE:TPR)‘s stock had its “mixed” rating reiterated by investment analysts at OTR Global in a note issued to investors on Wednesday, Benzinga reports.

A number of other equities research analysts also recently issued reports on the company. The Goldman Sachs Group increased their price objective on Tapestry from $41.00 to $47.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. Raymond James raised their price target on Tapestry from $40.00 to $44.00 and gave the company an “outperform” rating in a research report on Tuesday, January 30th. Wells Fargo & Company raised their price objective on Tapestry from $50.00 to $60.00 and gave the company an “overweight” rating in a research note on Friday, February 2nd. Telsey Advisory Group reaffirmed an “outperform” rating and set a $54.00 price objective on shares of Tapestry in a research note on Wednesday, March 27th. Finally, Evercore ISI raised Tapestry from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $30.00 to $50.00 in a research note on Monday, February 5th. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $47.81.

Tapestry Trading Up 0.0 %

NYSE:TPR opened at $40.50 on Wednesday. The company has a market cap of $9.29 billion, a P/E ratio of 10.23, a P/E/G ratio of 0.84 and a beta of 1.57. The stock’s fifty day moving average price is $45.52 and its two-hundred day moving average price is $37.43. Tapestry has a 1 year low of $25.99 and a 1 year high of $48.80. The company has a debt-to-equity ratio of 2.90, a current ratio of 6.25 and a quick ratio of 5.68.

Tapestry (NYSE:TPR) last posted its earnings results on Thursday, February 8th. The luxury accessories retailer reported $1.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.17. Tapestry had a return on equity of 41.75% and a net margin of 13.80%. The firm had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.05 billion. During the same quarter in the prior year, the business posted $1.36 earnings per share. The business’s quarterly revenue was up 2.5% on a year-over-year basis. As a group, analysts expect that Tapestry will post 4.25 EPS for the current year.

Institutional Investors Weigh In On Tapestry

A number of large investors have recently added to or reduced their stakes in TPR. MetLife Investment Management LLC grew its position in Tapestry by 20.1% in the 1st quarter. MetLife Investment Management LLC now owns 73,011 shares of the luxury accessories retailer’s stock worth $2,712,000 after purchasing an additional 12,222 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of Tapestry by 2.3% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 35,323 shares of the luxury accessories retailer’s stock valued at $1,312,000 after acquiring an additional 788 shares during the period. Great West Life Assurance Co. Can grew its position in shares of Tapestry by 1.9% during the 1st quarter. Great West Life Assurance Co. Can now owns 56,357 shares of the luxury accessories retailer’s stock valued at $2,176,000 after acquiring an additional 1,045 shares during the period. Sei Investments Co. grew its position in shares of Tapestry by 34.5% during the 1st quarter. Sei Investments Co. now owns 435,569 shares of the luxury accessories retailer’s stock valued at $16,189,000 after acquiring an additional 111,610 shares during the period. Finally, Canada Pension Plan Investment Board grew its position in shares of Tapestry by 955.8% during the 1st quarter. Canada Pension Plan Investment Board now owns 1,098 shares of the luxury accessories retailer’s stock valued at $41,000 after acquiring an additional 994 shares during the period. Institutional investors own 90.77% of the company’s stock.

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.