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.
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.
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.
ILLEGAL ACTIVITY NOTICE: “Deutsche Bank Increases Tapestry (TPR) Price Target to $64.00” was published by Week Herald and is the property of of Week Herald. If you are reading this piece on another publication, it was copied illegally and republished in violation of U.S. & international trademark and copyright legislation. The legal version of this piece can be viewed at https://weekherald.com/2018/04/19/deutsche-bank-increases-tapestry-tpr-price-target-to-64-00.html.
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.
Receive News & Ratings for Tapestry Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tapestry and related companies with MarketBeat.com's FREE daily email newsletter.