Wall Street Zen Upgrades Tapestry (NYSE:TPR) to “Strong-Buy”

by · The Cerbat Gem

Tapestry (NYSE:TPR – Get Free Report) was upgraded by analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Sunday.

Several other equities analysts have also weighed in on the stock. TD Cowen upgraded shares of Tapestry from a “hold” rating to a “buy” rating and set a $100.00 target price on the stock in a report on Thursday, June 12th. Cowen restated a “buy” rating on shares of Tapestry in a research note on Thursday, August 7th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $112.00 target price on shares of Tapestry in a research note on Friday, August 15th. Evercore ISI reduced their price target on Tapestry from $130.00 to $125.00 and set an “outperform” rating on the stock in a research report on Friday, August 15th. Finally, Raymond James Financial restated an “outperform” rating and issued a $115.00 price target (up previously from $85.00) on shares of Tapestry in a report on Tuesday, July 22nd. Seventeen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $106.47.

Read Our Latest Report on TPR

Tapestry Stock Performance

NYSE TPR opened at $109.97 on Friday. The stock has a market cap of $22.89 billion, a price-to-earnings ratio of 174.56, a price-to-earnings-growth ratio of 2.57 and a beta of 1.52. Tapestry has a fifty-two week low of $42.06 and a fifty-two week high of $114.05. The company has a quick ratio of 1.31, a current ratio of 1.87 and a debt-to-equity ratio of 2.77. The business has a fifty day moving average of $104.21 and a 200-day moving average of $85.71.

Tapestry (NYSE:TPR – Get Free Report) last posted its quarterly earnings data on Thursday, August 14th. The luxury accessories retailer reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.02. Tapestry had a return on equity of 68.02% and a net margin of 2.61%.The business had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.67 billion. During the same quarter last year, the firm earned $0.92 earnings per share. The business’s revenue was up 8.3% on a year-over-year basis. Tapestry has set its FY 2026 guidance at 5.300-5.450 EPS. As a group, analysts predict that Tapestry will post 4.91 earnings per share for the current fiscal year.

Insider Buying and Selling at Tapestry

In other news, VP Manesh Dadlani sold 7,882 shares of the firm’s stock in a transaction on Monday, August 25th. The stock was sold at an average price of $99.05, for a total transaction of $780,712.10. Following the transaction, the vice president directly owned 21,098 shares of the company’s stock, valued at approximately $2,089,756.90. This trade represents a 27.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Alan Ka Ming Lau sold 11,320 shares of the business’s stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $106.19, for a total transaction of $1,202,070.80. Following the sale, the director owned 8,153 shares in the company, valued at $865,767.07. This trade represents a 58.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.18% of the stock is owned by insiders.

Institutional Investors Weigh In On Tapestry

Several hedge funds have recently modified their holdings of the stock. Harbour Investments Inc. lifted its position in shares of Tapestry by 120.1% in the 1st quarter. Harbour Investments Inc. now owns 361 shares of the luxury accessories retailer’s stock valued at $25,000 after acquiring an additional 197 shares in the last quarter. Flaharty Asset Management LLC acquired a new position in shares of Tapestry during the 1st quarter valued at about $25,000. First PREMIER Bank acquired a new stake in shares of Tapestry in the second quarter worth $25,000. Vestor Capital LLC bought a new stake in Tapestry during the second quarter valued at about $27,000. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in Tapestry in the 1st quarter valued at approximately $29,000. 90.77% of the stock is owned by hedge funds and other institutional investors.

About Tapestry

(Get Free Report)

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.

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