Robert W. Baird Forecasts Strong Price Appreciation for Tapestry (NYSE:TPR) Stock

Tapestry (NYSE:TPR) had its price target lifted by equities research analysts at Robert W. Baird from $93.00 to $100.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the luxury accessories retailer’s stock. Robert W. Baird’s price objective would indicate a potential upside of 12.15% from the company’s current price.

A number of other equities research analysts have also recently issued reports on TPR. Raymond James reiterated an “outperform” rating and issued a $88.00 price objective (up from $79.00) on shares of Tapestry in a report on Friday, February 7th. StockNews.com downgraded Tapestry from a “buy” rating to a “hold” rating in a research note on Saturday, February 15th. Redburn Atlantic raised Tapestry from a “neutral” rating to a “buy” rating and set a $110.00 price objective on the stock in a research note on Tuesday. The Goldman Sachs Group boosted their target price on Tapestry from $72.00 to $98.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Finally, TD Cowen downgraded Tapestry from a “buy” rating to a “hold” rating and set a $52.00 price target on the stock. in a report on Tuesday, October 29th. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, Tapestry currently has a consensus rating of “Moderate Buy” and a consensus price target of $78.53.

Tapestry Stock Up 0.2 %

TPR opened at $89.16 on Thursday. The company has a market capitalization of $18.46 billion, a PE ratio of 25.84, a price-to-earnings-growth ratio of 2.03 and a beta of 1.58. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.58 and a quick ratio of 1.05. Tapestry has a fifty-two week low of $35.23 and a fifty-two week high of $90.85. The business has a 50-day moving average of $71.70 and a 200-day moving average of $55.93.

Tapestry (NYSE:TPR) last issued its quarterly earnings data on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.30. Tapestry had a net margin of 11.74% and a return on equity of 44.00%. During the same quarter last year, the firm earned $1.63 EPS. Equities research analysts forecast that Tapestry will post 4.91 EPS for the current fiscal year.

Hedge Funds Weigh In On Tapestry

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vise Technologies Inc. acquired a new stake in shares of Tapestry during the 4th quarter worth approximately $215,000. Focus Partners Advisor Solutions LLC bought a new position in Tapestry in the fourth quarter worth $212,000. CSS LLC IL boosted its stake in Tapestry by 47.8% during the fourth quarter. CSS LLC IL now owns 9,311 shares of the luxury accessories retailer’s stock worth $608,000 after buying an additional 3,011 shares in the last quarter. PharVision Advisers LLC bought a new stake in Tapestry in the 4th quarter valued at $314,000. Finally, Principal Street Partners LLC raised its stake in shares of Tapestry by 0.7% in the 4th quarter. Principal Street Partners LLC now owns 126,649 shares of the luxury accessories retailer’s stock valued at $8,274,000 after buying an additional 839 shares in the last quarter. 90.77% of the stock is currently owned by institutional investors.

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.