Robert W. Baird Forecasts Strong Price Appreciation for Tapestry (NYSE:TPR) Stock

Tapestry (NYSE:TPR) had its price objective hoisted by analysts at Robert W. Baird from $58.00 to $64.00 in a report released on Friday,Benzinga reports. The firm presently has an “outperform” rating on the luxury accessories retailer’s stock. Robert W. Baird’s target price points to a potential upside of 10.69% from the stock’s previous close.

A number of other equities analysts have also weighed in on the stock. Telsey Advisory Group boosted their price objective on shares of Tapestry from $58.00 to $67.00 and gave the company an “outperform” rating in a research report on Friday. Citigroup upped their target price on Tapestry from $49.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Bank of America upped their price objective on shares of Tapestry from $52.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, October 25th. StockNews.com downgraded shares of Tapestry from a “buy” rating to a “hold” rating in a research note on Monday, October 28th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Tapestry from $51.00 to $66.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $55.27.

Tapestry Stock Up 12.8 %

Shares of NYSE TPR opened at $57.82 on Friday. The firm’s 50-day moving average is $46.21 and its two-hundred day moving average is $42.83. The company has a market capitalization of $13.47 billion, a PE ratio of 16.71, a price-to-earnings-growth ratio of 1.78 and a beta of 1.53. Tapestry has a 12-month low of $29.83 and a 12-month high of $58.49. The company has a debt-to-equity ratio of 2.35, a current ratio of 4.93 and a quick ratio of 4.38.

Tapestry (NYSE:TPR) last announced its earnings results on Thursday, August 15th. The luxury accessories retailer reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.04. The firm had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.58 billion. Tapestry had a return on equity of 36.26% and a net margin of 12.12%. Tapestry’s quarterly revenue was down 1.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.95 EPS. Equities analysts anticipate that Tapestry will post 4.54 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of TPR. Waldron Private Wealth LLC acquired a new stake in shares of Tapestry in the 3rd quarter worth approximately $25,000. Massmutual Trust Co. FSB ADV lifted its position in Tapestry by 54.0% in the second quarter. Massmutual Trust Co. FSB ADV now owns 935 shares of the luxury accessories retailer’s stock worth $40,000 after purchasing an additional 328 shares during the period. Brooklyn Investment Group bought a new position in Tapestry during the 3rd quarter valued at $47,000. Blue Trust Inc. increased its position in shares of Tapestry by 111.9% during the 2nd quarter. Blue Trust Inc. now owns 1,053 shares of the luxury accessories retailer’s stock valued at $50,000 after purchasing an additional 556 shares during the period. Finally, MUFG Securities EMEA plc raised its stake in shares of Tapestry by 34.9% in the 2nd quarter. MUFG Securities EMEA plc now owns 1,226 shares of the luxury accessories retailer’s stock worth $52,000 after buying an additional 317 shares in the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

Tapestry Company Profile

Tapestry, Inc provides luxury accessories and branded lifestyle products in the United States, Japan, Greater China, and internationally. The company operates in three segments: Coach, Kate Spade, and Stuart Weitzman. It offers women’s handbags; and women’s accessories, such as small leather goods which includes mini and micro handbags, money pieces, wristlets, pouches, and cosmetic cases, as well as novelty accessories including address books, time management and travel accessories, sketchbooks, and portfolios; and belts, key rings, and charms.