Tapestry (NYSE:TPR) Upgraded at Daiwa Securities Group

Tapestry (NYSE:TPR) was upgraded by Daiwa Securities Group from a “hold” rating to a “strong-buy” rating in a research note issued on Monday,Zacks.com reports.

Other equities analysts have also issued reports about the stock. Zacks Research lowered shares of Tapestry from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 22nd. Weiss Ratings upgraded shares of Tapestry from a “hold (c)” rating to a “buy (b-)” rating in a research report on Friday. JPMorgan Chase & Co. raised their price target on Tapestry from $205.00 to $211.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 4th. Citigroup lifted their price objective on Tapestry from $165.00 to $170.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Finally, Barclays upped their price objective on Tapestry from $182.00 to $185.00 and gave the company an “overweight” rating in a report on Friday. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $175.12.

Tapestry Price Performance

Shares of TPR stock opened at $132.23 on Monday. The firm has a market cap of $26.37 billion, a price-to-earnings ratio of 18.14, a PEG ratio of 1.15 and a beta of 1.43. Tapestry has a 12 month low of $93.00 and a 12 month high of $164.80. The company has a quick ratio of 1.25, a current ratio of 1.75 and a debt-to-equity ratio of 3.44. The stock has a 50-day moving average price of $145.97 and a 200 day moving average price of $144.81.

Tapestry (NYSE:TPR) last released its earnings results on Thursday, August 13th. The luxury accessories retailer reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.04. The company had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.87 billion. Tapestry had a net margin of 19.09% and a return on equity of 254.95%. The company’s revenue was up 8.9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.04 EPS. Tapestry has set its FY 2027 guidance at 7.800-7.900 EPS. Research analysts expect that Tapestry will post 7.96 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Todd Kahn sold 19,557 shares of Tapestry stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $140.02, for a total transaction of $2,738,371.14. Following the transaction, the chief executive officer directly owned 123,258 shares of the company’s stock, valued at $17,258,585.16. This trade represents a 13.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.32% of the company’s stock.

Institutional Trading of Tapestry

Hedge funds have recently added to or reduced their stakes in the business. Beacon Pointe Advisors LLC bought a new position in Tapestry during the second quarter worth about $815,000. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in Tapestry in the second quarter valued at about $10,797,000. Rakuten Investment Management Inc. bought a new stake in shares of Tapestry in the second quarter worth about $4,847,000. Empowered Funds LLC bought a new stake in shares of Tapestry in the second quarter worth about $37,690,000. Finally, United Capital Financial Advisors LLC acquired a new stake in shares of Tapestry during the second quarter worth about $1,590,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

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.