Deutsche Bank Increases Tapestry (TPR) Price Target to $64.00

Tapestry (NYSE:TPR) had its target price boosted by investment analysts at Deutsche Bank to $64.00 in a report issued on Thursday, The Fly reports. The firm currently has a “buy” rating on the luxury accessories retailer’s stock. Deutsche Bank’s price target suggests a potential upside of 20.01% from the stock’s previous close. The analysts noted that the move was a valuation call.

Several other research analysts have also weighed in on TPR. Robert W. Baird set a $50.00 price objective on shares of Tapestry and gave the company a “buy” rating in a research note on Friday, December 22nd. Zacks Investment Research upgraded shares of Tapestry from a “hold” rating to a “buy” rating and set a $51.00 price objective on the stock in a research note on Monday, January 8th. Canaccord Genuity set a $58.00 price objective on shares of Tapestry and gave the company a “buy” rating in a research note on Sunday, January 7th. Cowen reiterated a “buy” rating and issued a $54.00 price objective on shares of Tapestry in a research note on Wednesday, January 31st. Finally, Piper Jaffray set a $48.00 price objective on shares of Tapestry and gave the company a “hold” rating in a research note on Monday, February 5th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $52.48.

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TPR stock opened at $53.33 on Thursday. Tapestry has a 52-week low of $38.47 and a 52-week high of $54.59. The company has a current ratio of 1.90, a quick ratio of 1.51 and a debt-to-equity ratio of 0.64. The company has a market cap of $15,298.18, a PE ratio of 24.80, a PEG ratio of 1.85 and a beta of 0.43.

Tapestry (NYSE:TPR) last released its quarterly earnings results on Tuesday, February 6th. The luxury accessories retailer reported $1.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.21. Tapestry had a net margin of 6.14% and a return on equity of 23.68%. The business had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same quarter in the previous year, the business earned $0.75 earnings per share. The firm’s revenue was up 35.1% compared to the same quarter last year. equities research analysts anticipate that Tapestry will post 2.58 EPS for the current fiscal year.

In related news, insider Sarah Dunn sold 6,229 shares of the company’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $48.23, for a total transaction of $300,424.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Victor Luis sold 123,780 shares of the company’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $50.02, for a total transaction of $6,191,475.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 140,551 shares of company stock valued at $7,020,158. 0.98% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of TPR. BlackRock Inc. bought a new stake in shares of Tapestry during the 4th quarter worth $791,257,000. American International Group Inc. bought a new stake in Tapestry in the 4th quarter valued at $543,498,000. American Century Companies Inc. bought a new stake in Tapestry in the 4th quarter valued at $287,354,000. Renaissance Technologies LLC bought a new stake in Tapestry in the 4th quarter valued at $239,505,000. Finally, Jennison Associates LLC bought a new stake in Tapestry in the 4th quarter valued at $181,887,000. 89.39% of the stock is owned by institutional investors and hedge funds.

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Tapestry Company Profile

Tapestry, Inc provides luxury accessories and lifestyle brands. It offers handbags, wallets, money pieces, wristlets and cosmetic cases, key rings, and charms, as well as address books, time management accessories, sketchbooks, and portfolios for women; and business cases, computer bags, messenger-style bags, backpacks, totes, wallets, card cases, belts, sunglasses, watches, novelty accessories, and ready-to-wear for men.

The Fly

Analyst Recommendations for Tapestry (NYSE:TPR)

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