Tapestry (NYSE:TPR) Stock Rating Lowered by StockNews.com

Tapestry (NYSE:TPRGet Rating) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Friday.

Several other brokerages have also recently issued reports on TPR. UBS Group boosted their price target on Tapestry from $31.00 to $37.00 and gave the company a “neutral” rating in a research report on Friday, August 19th. Credit Suisse Group boosted their price target on Tapestry to $49.00 in a research report on Monday, August 22nd. Cowen boosted their price target on Tapestry from $40.00 to $46.00 and gave the company an “outperform” rating in a research report on Friday, August 19th. Jefferies Financial Group raised Tapestry from a “hold” rating to a “buy” rating and lifted their price objective for the company from $30.00 to $45.00 in a report on Wednesday, June 15th. Finally, Barclays lifted their price objective on Tapestry from $39.00 to $43.00 and gave the company an “overweight” rating in a report on Monday, August 22nd. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $47.44.

Tapestry Stock Down 3.2 %

Tapestry stock opened at $30.95 on Friday. Tapestry has a 1-year low of $26.39 and a 1-year high of $47.05. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.75 and a quick ratio of 1.08. The stock has a market cap of $7.47 billion, a PE ratio of 9.79, a P/E/G ratio of 0.67 and a beta of 1.32. The stock’s fifty day moving average is $34.36 and its two-hundred day moving average is $33.76.

Tapestry (NYSE:TPRGet Rating) last posted its earnings results on Thursday, August 18th. The luxury accessories retailer reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.01. Tapestry had a return on equity of 34.37% and a net margin of 12.81%. The business had revenue of $1.62 billion for the quarter, compared to analysts’ expectations of $1.64 billion. During the same quarter in the previous year, the firm earned $0.74 earnings per share. The business’s revenue was up .6% compared to the same quarter last year. On average, sell-side analysts expect that Tapestry will post 3.85 EPS for the current fiscal year.

Insider Buying and Selling at Tapestry

In other news, insider Thomas A. Glaser sold 39,503 shares of the company’s stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $35.38, for a total transaction of $1,397,616.14. Following the completion of the sale, the insider now directly owns 243,321 shares in the company, valued at approximately $8,608,696.98. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Thomas A. Glaser sold 39,503 shares of the company’s stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $35.38, for a total transaction of $1,397,616.14. Following the completion of the sale, the insider now directly owns 243,321 shares in the company, valued at approximately $8,608,696.98. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Manesh Dadlani sold 2,005 shares of the company’s stock in a transaction on Monday, September 12th. The stock was sold at an average price of $36.81, for a total value of $73,804.05. Following the sale, the vice president now owns 33,681 shares of the company’s stock, valued at $1,239,797.61. The disclosure for this sale can be found here. In the last three months, insiders sold 47,110 shares of company stock worth $1,677,854. Insiders own 1.40% of the company’s stock.

Institutional Trading of Tapestry

Large investors have recently added to or reduced their stakes in the stock. Millennium Management LLC boosted its position in Tapestry by 13,214.8% in the 4th quarter. Millennium Management LLC now owns 1,542,917 shares of the luxury accessories retailer’s stock valued at $62,642,000 after buying an additional 1,531,329 shares during the last quarter. Lazard Asset Management LLC boosted its position in Tapestry by 45.7% in the 2nd quarter. Lazard Asset Management LLC now owns 4,758,778 shares of the luxury accessories retailer’s stock valued at $145,237,000 after buying an additional 1,492,589 shares during the last quarter. American Century Companies Inc. boosted its position in Tapestry by 23.6% in the 1st quarter. American Century Companies Inc. now owns 4,815,492 shares of the luxury accessories retailer’s stock valued at $178,896,000 after buying an additional 920,425 shares during the last quarter. Vanguard Group Inc. boosted its position in Tapestry by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 32,654,335 shares of the luxury accessories retailer’s stock valued at $1,213,109,000 after buying an additional 751,210 shares during the last quarter. Finally, Dana Investment Advisors Inc. purchased a new position in Tapestry in the 1st quarter valued at about $20,014,000. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Tapestry Company Profile

(Get Rating)

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 accessories, including handbags, such as wallets, money pieces, wristlets, and cosmetic cases; novelty accessories comprising address books, time management and travel accessories, sketchbooks, and portfolios; and key rings and charms.

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Analyst Recommendations for Tapestry (NYSE:TPR)

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