Tapestry (NYSE:TPR) Downgraded to “Buy” Rating by Wall Street Zen

Tapestry (NYSE:TPR) was downgraded by stock analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report released on Sunday.

TPR has been the subject of several other reports. Telsey Advisory Group reaffirmed an “outperform” rating and set a $125.00 price objective on shares of Tapestry in a research report on Friday. Wells Fargo & Company upped their target price on Tapestry from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Monday, October 27th. Raymond James Financial upped their target price on Tapestry from $115.00 to $130.00 and gave the stock an “outperform” rating in a report on Tuesday, October 21st. Jefferies Financial Group upped their target price on Tapestry from $125.00 to $135.00 and gave the stock a “buy” rating in a report on Thursday, October 23rd. Finally, Evercore ISI dropped their target price on Tapestry from $130.00 to $125.00 and set an “outperform” rating on the stock in a report on Friday, August 15th. Eighteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, Tapestry currently has a consensus rating of “Moderate Buy” and a consensus price target of $115.60.

Tapestry Stock Down 1.4%

TPR stock opened at $109.77 on Friday. The company has a debt-to-equity ratio of 2.77, a current ratio of 1.87 and a quick ratio of 1.31. The stock has a market capitalization of $22.72 billion, a P/E ratio of 174.23, a P/E/G ratio of 2.72 and a beta of 1.57. The business has a 50-day moving average of $110.55 and a 200-day moving average of $95.95. Tapestry has a fifty-two week low of $46.77 and a fifty-two week high of $118.56.

Tapestry (NYSE:TPR) last posted its quarterly earnings data 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. The company had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.67 billion. Tapestry had a return on equity of 68.02% and a net margin of 2.61%.Tapestry’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.92 earnings per share. Tapestry has set its FY 2026 guidance at 5.300-5.450 EPS. On average, sell-side analysts anticipate that Tapestry will post 4.91 earnings per share for the current fiscal year.

Insider Activity at Tapestry

In other Tapestry news, VP Manesh Dadlani sold 7,882 shares of the company’s stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $99.05, for a total value of $780,712.10. Following the sale, the vice president owned 21,098 shares in the company, valued at $2,089,756.90. This represents a 27.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Alan Ka Ming Lau sold 11,320 shares of the stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $106.19, for a total value of $1,202,070.80. Following the transaction, the director owned 8,153 shares in the company, valued at approximately $865,767.07. This trade represents a 58.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.32% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tapestry

Large investors have recently made changes to their positions in the company. Harbour Investments Inc. increased its stake in shares of Tapestry by 120.1% during the first quarter. Harbour Investments Inc. now owns 361 shares of the luxury accessories retailer’s stock worth $25,000 after purchasing an additional 197 shares during the period. Flaharty Asset Management LLC bought a new position in shares of Tapestry during the first quarter worth approximately $25,000. First PREMIER Bank bought a new position in shares of Tapestry during the second quarter worth approximately $25,000. Vestor Capital LLC bought a new position in shares of Tapestry during the second quarter worth approximately $27,000. Finally, Caitong International Asset Management Co. Ltd bought a new position in shares of Tapestry during the first quarter worth approximately $29,000. 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.