Tapestry (NYSE:TPR) Upgraded at Zacks Research

Tapestry (NYSE:TPR) was upgraded by investment analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Monday,Zacks.com reports.

A number of other research firms have also weighed in on TPR. Citigroup increased their target price on Tapestry from $152.00 to $165.00 and gave the stock a “buy” rating in a research note on Friday, February 6th. Jefferies Financial Group cut Tapestry from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $142.00 to $138.00 in a research note on Wednesday, January 14th. Guggenheim initiated coverage on Tapestry in a research report on Tuesday, December 9th. They set a “neutral” rating for the company. Barclays set a $179.00 price target on Tapestry and gave the stock an “overweight” rating in a research report on Friday. Finally, JPMorgan Chase & Co. lifted their price objective on Tapestry from $147.00 to $148.00 and gave the company an “overweight” rating in a report on Monday, November 17th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $143.33.

Tapestry Stock Performance

NYSE TPR opened at $152.88 on Monday. The company has a quick ratio of 1.10, a current ratio of 1.63 and a debt-to-equity ratio of 4.32. Tapestry has a twelve month low of $58.39 and a twelve month high of $157.00. The business has a 50-day moving average price of $129.14 and a 200-day moving average price of $115.64. The firm has a market cap of $30.95 billion, a price-to-earnings ratio of 63.17, a price-to-earnings-growth ratio of 2.39 and a beta of 1.63.

Tapestry (NYSE:TPR) last posted its earnings results on Thursday, February 5th. The luxury accessories retailer reported $2.69 earnings per share for the quarter, beating the consensus estimate of $2.20 by $0.49. Tapestry had a net margin of 6.95% and a return on equity of 157.98%. The company had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.29 billion. During the same period last year, the company posted $2.00 earnings per share. Tapestry’s quarterly revenue was up 14.0% on a year-over-year basis. Tapestry has set its FY 2026 guidance at 6.400-6.450 EPS. As a group, equities research analysts predict that Tapestry will post 4.91 EPS for the current fiscal year.

Tapestry announced that its board has approved a share buyback plan on Thursday, November 6th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the luxury accessories retailer to reacquire up to 4.9% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In other Tapestry news, CFO Scott A. Roe sold 18,794 shares of Tapestry stock in a transaction on Friday, November 21st. The shares were sold at an average price of $104.85, for a total value of $1,970,550.90. Following the transaction, the chief financial officer directly owned 148,149 shares of the company’s stock, valued at approximately $15,533,422.65. The trade was a 11.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David E. Howard sold 25,029 shares of the company’s stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $102.50, for a total value of $2,565,472.50. Following the transaction, the insider directly owned 55,354 shares in the company, valued at approximately $5,673,785. The trade was a 31.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 115,485 shares of company stock valued at $12,034,058 over the last quarter. Insiders own 1.32% of the company’s stock.

Hedge Funds Weigh In On Tapestry

Hedge funds and other institutional investors have recently modified their holdings of the stock. Woodline Partners LP lifted its stake in Tapestry by 25.0% during the 1st quarter. Woodline Partners LP now owns 17,490 shares of the luxury accessories retailer’s stock valued at $1,231,000 after acquiring an additional 3,495 shares during the period. Acadian Asset Management LLC acquired a new position in Tapestry during the first quarter valued at $493,000. Sivia Capital Partners LLC purchased a new stake in Tapestry in the second quarter valued at $602,000. Ameritas Advisory Services LLC acquired a new stake in Tapestry during the 2nd quarter worth about $37,000. Finally, Blair William & Co. IL purchased a new position in shares of Tapestry during the 2nd quarter valued at about $412,000. 90.77% of the stock is owned by hedge funds and other institutional investors.

Tapestry Company Profile

Tapestry, Inc is a New York City–based house of fashion brands that designs, produces and distributes a range of accessible luxury and lifestyle products. The company manages a portfolio led by Coach, along with Kate Spade New York and Stuart Weitzman, each offering distinct product lines that include handbags and leather goods, footwear, ready-to-wear apparel, accessories, small leather goods, jewelry and lifestyle items. Tapestry’s operations encompass product design, marketing, wholesale partnerships, retail store operations and digital commerce.

Historically, the Coach brand traces its roots to a leather workshop in New York dating to the mid-20th century.