Zacks Research Downgrades Tapestry (NYSE:TPR) to Hold

Tapestry (NYSE:TPR) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Wednesday,Zacks.com reports.

Other equities analysts also recently issued research reports about the company. JPMorgan Chase & Co. increased their price target on Tapestry from $200.00 to $205.00 and gave the stock an “overweight” rating in a research report on Friday, June 12th. Evercore set a $175.00 price objective on Tapestry in a research report on Friday, May 8th. Robert W. Baird upped their target price on Tapestry from $160.00 to $165.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 29th. BTIG Research reiterated a “buy” rating and set a $180.00 target price on shares of Tapestry in a research report on Wednesday, June 10th. Finally, UBS Group lifted their price target on shares of Tapestry from $187.00 to $230.00 and gave the company a “buy” rating in a research note on Tuesday, June 23rd. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Tapestry currently has an average rating of “Moderate Buy” and a consensus price target of $170.06.

Tapestry Trading Down 3.4%

Shares of Tapestry stock opened at $138.78 on Wednesday. The firm has a 50-day simple moving average of $142.18 and a two-hundred day simple moving average of $142.49. The company has a debt-to-equity ratio of 3.48, a quick ratio of 1.27 and a current ratio of 1.84. Tapestry has a fifty-two week low of $92.62 and a fifty-two week high of $161.97. The company has a market cap of $28.04 billion, a P/E ratio of 44.48, a price-to-earnings-growth ratio of 1.32 and a beta of 1.43.

Tapestry (NYSE:TPR) last posted its earnings results on Thursday, May 7th. The luxury accessories retailer reported $1.66 EPS for the quarter, beating analysts’ consensus estimates of $1.30 by $0.36. Tapestry had a return on equity of 229.70% and a net margin of 8.44%.The firm had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $1.79 billion. During the same period last year, the firm earned $1.03 EPS. The company’s quarterly revenue was up 21.2% on a year-over-year basis. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. As a group, equities analysts predict that Tapestry will post 6.97 earnings per share for the current fiscal year.

Insider Activity at Tapestry

In other Tapestry news, CEO Todd Kahn sold 19,557 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $140.02, for a total transaction of $2,738,371.14. Following the completion of the transaction, the chief executive officer owned 123,258 shares of the company’s stock, valued at $17,258,585.16. This represents a 13.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Joanne C. Crevoiserat sold 27,776 shares of the firm’s stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $132.89, for a total value of $3,691,152.64. Following the completion of the transaction, the chief executive officer owned 652,434 shares in the company, valued at approximately $86,701,954.26. This trade represents a 4.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.32% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TPR. Acumen Wealth Advisors LLC acquired a new stake in Tapestry during the 4th quarter worth $28,000. Triumph Capital Management purchased a new stake in shares of Tapestry during the third quarter worth $29,000. Steph & Co. raised its position in shares of Tapestry by 128.7% in the fourth quarter. Steph & Co. now owns 231 shares of the luxury accessories retailer’s stock valued at $30,000 after buying an additional 130 shares during the last quarter. Flagship Harbor Advisors LLC acquired a new stake in shares of Tapestry in the fourth quarter valued at about $31,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA purchased a new position in shares of Tapestry in the fourth quarter worth about $32,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Tapestry Company Profile

Tapestry, Inc is a New York City–based house of fashion brands that designs, produces and distributes a range of accessible luxury and lifestyle products. The company manages a portfolio led by Coach, along with Kate Spade New York and Stuart Weitzman, each offering distinct product lines that include handbags and leather goods, footwear, ready-to-wear apparel, accessories, small leather goods, jewelry and lifestyle items. Tapestry’s operations encompass product design, marketing, wholesale partnerships, retail store operations and digital commerce.

Historically, the Coach brand traces its roots to a leather workshop in New York dating to the mid-20th century.