Tapestry (NYSE:TPR) Stock Price Expected to Rise, Evercore ISI Analyst Says

Tapestry (NYSE:TPR) had its price target increased by analysts at Evercore ISI from $68.00 to $74.00 in a research note issued on Monday,Benzinga reports. The firm presently has an “outperform” rating on the luxury accessories retailer’s stock. Evercore ISI’s price objective suggests a potential upside of 0.28% from the company’s previous close.

Other equities research analysts have also issued reports about the company. StockNews.com lowered Tapestry from a “buy” rating to a “hold” rating in a research report on Monday, October 28th. Wells Fargo & Company boosted their price target on shares of Tapestry from $65.00 to $75.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Daiwa America raised shares of Tapestry to a “hold” rating in a research report on Monday, November 18th. UBS Group upped their target price on Tapestry from $57.00 to $70.00 and gave the company a “neutral” rating in a report on Friday, January 10th. Finally, Citigroup boosted their price objective on Tapestry from $49.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $65.56.

Tapestry Price Performance

TPR stock opened at $73.79 on Monday. The company has a debt-to-equity ratio of 2.35, a quick ratio of 4.38 and a current ratio of 4.93. The business has a 50-day simple moving average of $65.50 and a two-hundred day simple moving average of $51.54. The company has a market capitalization of $17.20 billion, a P/E ratio of 21.33, a price-to-earnings-growth ratio of 2.07 and a beta of 1.58. Tapestry has a 52-week low of $35.23 and a 52-week high of $75.78.

Insider Buying and Selling at Tapestry

In related news, VP Manesh Dadlani sold 8,872 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $57.96, for a total value of $514,221.12. Following the transaction, the vice president now directly owns 35,003 shares in the company, valued at approximately $2,028,773.88. This represents a 20.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.18% of the company’s stock.

Hedge Funds Weigh In On Tapestry

A number of hedge funds and other institutional investors have recently bought and sold shares of TPR. Victory Capital Management Inc. lifted its holdings in shares of Tapestry by 7.5% in the 3rd quarter. Victory Capital Management Inc. now owns 433,825 shares of the luxury accessories retailer’s stock worth $20,381,000 after acquiring an additional 30,121 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in Tapestry in the third quarter worth $5,446,000. Valley Wealth Managers Inc. boosted its position in Tapestry by 2.1% during the third quarter. Valley Wealth Managers Inc. now owns 425,105 shares of the luxury accessories retailer’s stock valued at $19,971,000 after buying an additional 8,833 shares during the period. Westfield Capital Management Co. LP grew its stake in shares of Tapestry by 14.8% during the third quarter. Westfield Capital Management Co. LP now owns 1,699,067 shares of the luxury accessories retailer’s stock valued at $79,822,000 after buying an additional 219,544 shares during the last quarter. Finally, Decker Retirement Planning Inc. bought a new stake in shares of Tapestry in the 4th quarter valued at about $3,437,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

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.