Tapestry (NYSE:TPR) Rating Reiterated by OTR Global

Tapestry (NYSE:TPR)‘s stock had its “mixed” rating restated by equities researchers at OTR Global in a report released on Wednesday, Benzinga reports.

A number of other brokerages have also issued reports on TPR. TheStreet upgraded shares of Tapestry from a “c+” rating to a “b-” rating in a research note on Tuesday, December 26th. Raymond James upped their price target on shares of Tapestry from $40.00 to $44.00 and gave the company an “outperform” rating in a research note on Tuesday, January 30th. StockNews.com lowered shares of Tapestry from a “buy” rating to a “hold” rating in a research note on Wednesday, April 10th. Wells Fargo & Company upped their price objective on shares of Tapestry from $50.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, February 2nd. Finally, Evercore ISI raised shares of Tapestry from an “in-line” rating to an “outperform” rating and upped their price objective for the company from $30.00 to $50.00 in a report on Monday, February 5th. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, Tapestry currently has a consensus rating of “Moderate Buy” and an average target price of $47.81.

Tapestry Trading Up 0.0 %

NYSE TPR opened at $40.50 on Wednesday. The company has a quick ratio of 5.68, a current ratio of 6.25 and a debt-to-equity ratio of 2.90. The firm has a market cap of $9.29 billion, a PE ratio of 10.23, a price-to-earnings-growth ratio of 0.84 and a beta of 1.57. The company has a 50 day moving average price of $45.52 and a 200 day moving average price of $37.43. Tapestry has a 52 week low of $25.99 and a 52 week high of $48.80.

Tapestry (NYSE:TPR) last issued its quarterly earnings results on Thursday, February 8th. The luxury accessories retailer reported $1.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.17. Tapestry had a net margin of 13.80% and a return on equity of 41.75%. The business had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.05 billion. During the same quarter in the prior year, the business posted $1.36 EPS. Tapestry’s revenue for the quarter was up 2.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Tapestry will post 4.25 EPS for the current fiscal year.

Institutional Trading of Tapestry

A number of hedge funds have recently added to or reduced their stakes in TPR. MetLife Investment Management LLC lifted its holdings in Tapestry by 20.1% during the first quarter. MetLife Investment Management LLC now owns 73,011 shares of the luxury accessories retailer’s stock valued at $2,712,000 after purchasing an additional 12,222 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in Tapestry by 2.3% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 35,323 shares of the luxury accessories retailer’s stock valued at $1,312,000 after purchasing an additional 788 shares in the last quarter. Great West Life Assurance Co. Can lifted its holdings in Tapestry by 1.9% during the first quarter. Great West Life Assurance Co. Can now owns 56,357 shares of the luxury accessories retailer’s stock valued at $2,176,000 after purchasing an additional 1,045 shares in the last quarter. Sei Investments Co. lifted its holdings in Tapestry by 34.5% during the first quarter. Sei Investments Co. now owns 435,569 shares of the luxury accessories retailer’s stock valued at $16,189,000 after purchasing an additional 111,610 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its holdings in Tapestry by 955.8% during the first quarter. Canada Pension Plan Investment Board now owns 1,098 shares of the luxury accessories retailer’s stock valued at $41,000 after purchasing an additional 994 shares in the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

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.