Tapestry (TPR) Received a $41.00 Target Price by Barclays Analysts

Tapestry (TPR) Received a $41.00 Target Price by Barclays Analysts

Tapestry (NYSE:TPR) has been given a $41.00 price target by equities research analysts at Barclays in a report issued on Saturday. The firm presently has a “buy” rating on the luxury accessories retailer’s stock. Barclays‘s target price suggests a potential upside of 21.09% from the stock’s current price.

TPR has been the topic of a number of other reports. Macquarie set a $40.00 price target on Tapestry and gave the stock a “hold” rating in a research note on Friday. Wells Fargo & Co set a $58.00 price target on Tapestry and gave the stock a “buy” rating in a research note on Thursday, December 13th. Nomura set a $50.00 price target on Tapestry and gave the stock a “buy” rating in a research note on Monday, November 26th. Loop Capital downgraded Tapestry from a “buy” rating to a “hold” rating and dropped their price target for the stock from $59.00 to $45.00 in a research note on Monday, October 15th. Finally, Wolfe Research raised Tapestry from a “peer perform” rating to an “outperform” rating and set a $45.00 price target on the stock in a research note on Friday, January 25th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty-two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $49.93.

Shares of Tapestry stock opened at $33.86 on Friday. Tapestry has a one year low of $31.91 and a one year high of $55.50. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.83 and a current ratio of 2.62. The stock has a market cap of $9.81 billion, a P/E ratio of 12.87, a price-to-earnings-growth ratio of 1.15 and a beta of 0.76.

Tapestry (NYSE:TPR) last posted its quarterly earnings results on Thursday, February 7th. The luxury accessories retailer reported $1.07 earnings per share for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.04). Tapestry had a return on equity of 23.84% and a net margin of 12.18%. The firm had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same period last year, the company posted $1.07 earnings per share. The firm’s quarterly revenue was up .9% compared to the same quarter last year. Equities research analysts expect that Tapestry will post 2.62 earnings per share for the current fiscal year.

Several institutional investors have recently modified their holdings of the company. Moody National Bank Trust Division increased its position in shares of Tapestry by 21.2% during the fourth 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 increased its position in shares of Tapestry by 18.0% during the fourth 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. E&G Advisors LP increased its position in shares of Tapestry by 8.5% during the fourth quarter. E&G Advisors LP now owns 6,400 shares of the luxury accessories retailer’s stock valued at $216,000 after acquiring an additional 500 shares during the last quarter. Roanoke Asset Management Corp NY increased its position in shares of Tapestry by 1.3% during the fourth quarter. Roanoke Asset Management Corp NY now owns 45,929 shares of the luxury accessories retailer’s stock valued at $1,550,000 after acquiring an additional 590 shares during the last quarter. Finally, Securian Asset Management Inc increased its position in shares of Tapestry by 2.1% during the fourth quarter. Securian Asset Management Inc now owns 29,816 shares of the luxury accessories retailer’s stock valued at $1,006,000 after acquiring an additional 612 shares during the last quarter. 89.44% of the stock is owned by hedge funds and other institutional investors.

About Tapestry

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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