Tapestry (TPR) Receives Buy Rating from Wells Fargo & Co

Wells Fargo & Co restated their buy rating on shares of Tapestry (NYSE:TPR) in a report released on Tuesday morning.

Several other brokerages also recently weighed in on TPR. Oppenheimer boosted their price objective on shares of Tapestry from $60.00 to $65.00 in a research report on Monday, April 30th. Canaccord Genuity set a $59.00 price target on shares of Tapestry and gave the company a buy rating in a research report on Friday, April 27th. Guggenheim reiterated a buy rating and issued a $65.00 price target on shares of Tapestry in a research report on Friday, April 27th. Buckingham Research began coverage on shares of Tapestry in a research report on Friday, April 20th. They issued a buy rating and a $62.00 price target for the company. Finally, Deutsche Bank upped their price target on shares of Tapestry to $64.00 and gave the company a buy rating in a research report on Thursday, April 19th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, eight have given a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the stock. Tapestry presently has an average rating of Buy and a consensus price target of $54.78.

Shares of NYSE:TPR opened at $52.20 on Tuesday. The company has a market cap of $13.80 billion, a PE ratio of 24.28, a P/E/G ratio of 1.46 and a beta of 0.40. The company has a quick ratio of 1.83, a current ratio of 2.66 and a debt-to-equity ratio of 0.51. Tapestry has a twelve month low of $38.70 and a twelve month high of $55.50.



Tapestry (NYSE:TPR) last issued its quarterly earnings data on Tuesday, August 14th. The luxury accessories retailer reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.03. The business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.47 billion. Tapestry had a net margin of 6.10% and a return on equity of 24.12%. The company’s revenue was up 30.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.50 EPS. equities research analysts forecast that Tapestry will post 2.59 EPS for the current year.

Institutional investors have recently made changes to their positions in the business. Stelac Advisory Services LLC purchased a new position in Tapestry during the 1st quarter worth $130,000. LifePlan Financial Group Inc purchased a new position in Tapestry during the 2nd quarter worth $142,000. Stratos Wealth Partners LTD. purchased a new position in Tapestry during the 1st quarter worth $155,000. Twin Tree Management LP raised its position in Tapestry by 128.9% during the 2nd quarter. Twin Tree Management LP now owns 3,394 shares of the luxury accessories retailer’s stock worth $159,000 after buying an additional 15,144 shares during the last quarter. Finally, Pitcairn Co. purchased a new position in Tapestry during the 1st quarter worth $201,000. Institutional investors own 90.23% of the company’s stock.

Tapestry Company Profile

Tapestry, Inc provides luxury accessories and lifestyle brands. It offers handbags, wallets, money pieces, wristlets and cosmetic cases, key rings, and charms, as well as address books, time management accessories, sketchbooks, and portfolios for women; and business cases, computer bags, messenger-style bags, backpacks, totes, wallets, card cases, belts, sunglasses, watches, novelty accessories, and ready-to-wear for men.

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Analyst Recommendations for Tapestry (NYSE:TPR)

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