Citigroup Lowers Tapestry (NYSE:TPR) Price Target to $81.00

Tapestry (NYSE:TPR) had its price target dropped by stock analysts at Citigroup from $95.00 to $81.00 in a report released on Thursday,Benzinga reports. The firm currently has a “buy” rating on the luxury accessories retailer’s stock. Citigroup’s price target indicates a potential upside of 27.50% from the stock’s current price.

A number of other equities analysts have also recently issued reports on TPR. JPMorgan Chase & Co. upped their price objective on Tapestry from $88.00 to $104.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Redburn Atlantic upgraded shares of Tapestry from a “neutral” rating to a “buy” rating and set a $110.00 price target on the stock in a research report on Tuesday, February 18th. Raymond James restated 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. Guggenheim lifted their target price on shares of Tapestry from $70.00 to $90.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Finally, StockNews.com downgraded shares of Tapestry from a “buy” rating to a “hold” rating in a research note on Tuesday, April 8th. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $79.00.

Tapestry Stock Up 1.0 %

Shares of NYSE TPR opened at $63.53 on Thursday. The company has a current ratio of 1.58, a quick ratio of 1.05 and a debt-to-equity ratio of 1.78. The business has a 50-day moving average of $74.24 and a 200-day moving average of $65.14. The firm has a market capitalization of $13.15 billion, a price-to-earnings ratio of 18.41, a PEG ratio of 2.01 and a beta of 1.37. Tapestry has a 12 month low of $35.23 and a 12 month high of $90.85.

Tapestry (NYSE:TPR) last issued its quarterly earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 EPS for the quarter, topping analysts’ consensus estimates 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 period last year, the business posted $1.63 EPS. Sell-side analysts expect that Tapestry will post 4.91 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Scott A. Roe sold 25,727 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $86.56, for a total transaction of $2,226,929.12. Following the sale, the chief financial officer now owns 146,587 shares in the company, valued at approximately $12,688,570.72. The trade was a 14.93 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, General Counsel David E. Howard sold 11,917 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $88.00, for a total transaction of $1,048,696.00. Following the completion of the transaction, the general counsel now owns 38,609 shares of the company’s stock, valued at approximately $3,397,592. The trade was a 23.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 66,537 shares of company stock valued at $5,730,589. Corporate insiders own 1.18% of the company’s stock.

Institutional Investors Weigh In On Tapestry

A number of hedge funds and other institutional investors have recently bought and sold shares of TPR. Greenline Partners LLC bought a new stake in shares of Tapestry in the 4th quarter worth approximately $29,000. Coppell Advisory Solutions LLC raised its stake in Tapestry by 40.7% during the fourth quarter. Coppell Advisory Solutions LLC now owns 519 shares of the luxury accessories retailer’s stock valued at $34,000 after buying an additional 150 shares during the last quarter. Opal Wealth Advisors LLC bought a new stake in Tapestry in the first quarter worth $35,000. Venturi Wealth Management LLC grew its stake in shares of Tapestry by 78.0% in the fourth quarter. Venturi Wealth Management LLC now owns 575 shares of the luxury accessories retailer’s stock worth $38,000 after acquiring an additional 252 shares during the last quarter. Finally, Canada Post Corp Registered Pension Plan bought a new position in shares of Tapestry during the fourth quarter valued at $48,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

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.