UBS Group Has Lowered Expectations for Tapestry (NYSE:TPR) Stock Price

Tapestry (NYSE:TPR) had its price target lowered by investment analysts at UBS Group from $112.00 to $105.00 in a research report issued on Friday,Benzinga reports. The firm currently has a “neutral” rating on the luxury accessories retailer’s stock. UBS Group’s price objective indicates a potential upside of 4.06% from the stock’s current price.

Several other equities research analysts have also recently weighed in on the company. TD Cowen upgraded Tapestry from a “hold” rating to a “buy” rating and set a $100.00 target price for the company in a research note on Thursday, June 12th. Morgan Stanley upped their target price on Tapestry from $90.00 to $115.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. Barclays restated an “overweight” rating and set a $105.00 target price (up from $98.00) on shares of Tapestry in a research note on Friday, July 11th. Wells Fargo & Company upped their target price on Tapestry from $100.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, Citigroup upped their price target on shares of Tapestry from $81.00 to $94.00 and gave the stock a “buy” rating in a report on Friday, May 9th. Four investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $105.47.

Tapestry Trading Up 5.4%

Shares of TPR stock opened at $100.90 on Friday. The stock has a 50 day simple moving average of $96.88 and a 200 day simple moving average of $82.73. The company has a current ratio of 1.87, a quick ratio of 1.22 and a debt-to-equity ratio of 2.77. Tapestry has a 1 year low of $39.10 and a 1 year high of $114.05. The stock has a market cap of $20.96 billion, a P/E ratio of 160.16, a price-to-earnings-growth ratio of 2.06 and a beta of 1.51.

Tapestry (NYSE:TPR) last released its earnings results on Thursday, August 14th. The luxury accessories retailer reported $1.04 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.02. Tapestry had a return on equity of 68.02% and a net margin of 2.61%. The firm had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.67 billion. During the same period in the prior year, the company earned $0.92 earnings per share. The company’s quarterly revenue was up 8.3% on a year-over-year basis. On average, research analysts predict that Tapestry will post 4.91 earnings per share for the current fiscal year.

Institutional Trading of Tapestry

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. 1858 Wealth Management LLC increased its holdings in Tapestry by 2.5% in the second quarter. 1858 Wealth Management LLC now owns 3,835 shares of the luxury accessories retailer’s stock valued at $337,000 after purchasing an additional 95 shares during the period. Convergence Financial LLC increased its holdings in Tapestry by 3.0% in the second quarter. Convergence Financial LLC now owns 3,386 shares of the luxury accessories retailer’s stock valued at $297,000 after purchasing an additional 98 shares during the period. Earned Wealth Advisors LLC increased its holdings in Tapestry by 1.6% in the second quarter. Earned Wealth Advisors LLC now owns 7,304 shares of the luxury accessories retailer’s stock valued at $641,000 after purchasing an additional 116 shares during the period. 44 Wealth Management LLC grew its holdings in Tapestry by 0.8% during the 2nd quarter. 44 Wealth Management LLC now owns 19,018 shares of the luxury accessories retailer’s stock worth $1,670,000 after acquiring an additional 142 shares during the period. Finally, Coppell Advisory Solutions LLC grew its holdings in Tapestry by 40.7% during the 4th quarter. Coppell Advisory Solutions LLC now owns 519 shares of the luxury accessories retailer’s stock worth $34,000 after acquiring an additional 150 shares during the period. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Tapestry Company Profile

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.