Deutsche Bank Analysts Give Tapestry (TPR) a $63.00 Price Target

Deutsche Bank set a $63.00 target price on Tapestry (NYSE:TPR) in a research note issued to investors on Wednesday, May 2nd. The firm currently has a buy rating on the luxury accessories retailer’s stock.

Several other analysts have also recently issued reports on the stock. Loop Capital set a $59.00 target price on shares of Tapestry and gave the company a buy rating in a research report on Tuesday, May 1st. Oppenheimer upped their target price on shares of Tapestry from $60.00 to $65.00 in a research report on Monday, April 30th. Canaccord Genuity set a $59.00 target price on shares of Tapestry and gave the company a buy rating in a research report on Friday, April 27th. Guggenheim reissued a buy rating and issued a $65.00 price objective on shares of Tapestry in a research report on Friday, April 27th. Finally, Wells Fargo set a $60.00 price objective on shares of Tapestry and gave the stock a buy rating in a research report on Monday, April 23rd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average price target of $54.27.

Shares of Tapestry opened at $44.42 on Wednesday, according to Marketbeat. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.83 and a current ratio of 2.66. The stock has a market cap of $13.02 billion, a PE ratio of 20.66, a price-to-earnings-growth ratio of 1.55 and a beta of 0.39. Tapestry has a 12-month low of $43.96 and a 12-month high of $45.56.

Tapestry (NYSE:TPR) last announced its earnings results on Tuesday, May 1st. The luxury accessories retailer reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.04. The firm had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.30 billion. Tapestry had a net margin of 6.10% and a return on equity of 24.12%. Tapestry’s quarterly revenue was up 32.9% compared to the same quarter last year. sell-side analysts expect that Tapestry will post 2.6 EPS for the current year.

In other Tapestry news, Director Susan J. Kropf sold 6,185 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $50.80, for a total value of $314,198.00. The sale was disclosed in a filing with the SEC, which is available through this link. 0.98% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. City Holding Co. bought a new position in shares of Tapestry during the fourth quarter valued at approximately $333,000. Oak Point Wealth Management bought a new position in shares of Tapestry during the fourth quarter valued at approximately $469,000. Banco de Sabadell S.A bought a new position in shares of Tapestry during the fourth quarter valued at approximately $1,529,000. Amalgamated Bank bought a new position in shares of Tapestry during the fourth quarter valued at approximately $1,599,000. Finally, Thrivent Financial For Lutherans bought a new position in shares of Tapestry during the fourth quarter valued at approximately $511,000. Hedge funds and other institutional investors own 89.00% of the company’s stock.

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.

Analyst Recommendations for Tapestry (NYSE:TPR)

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