Wall Street Zen Downgrades Tapestry (NYSE:TPR) to Buy

by · The Cerbat Gem

Tapestry (NYSE:TPR – Get Free Report) was downgraded by equities researchers at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Sunday.

TPR has been the topic of several other reports. Robert W. Baird set a $130.00 price target on shares of Tapestry in a research report on Wednesday, October 29th. Morgan Stanley reissued an “overweight” rating on shares of Tapestry in a research report on Thursday, September 11th. The Goldman Sachs Group boosted their price objective on shares of Tapestry from $116.00 to $130.00 and gave the stock a “buy” rating in a research note on Monday, October 6th. Evercore ISI lowered their price objective on shares of Tapestry from $130.00 to $125.00 and set an “outperform” rating on the stock in a research note on Friday, August 15th. Finally, Telsey Advisory Group restated an “outperform” rating and set a $125.00 price objective on shares of Tapestry in a research note on Friday. Eighteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $115.80.

Read Our Latest Stock Analysis on Tapestry

Tapestry Trading Down 3.1%

TPR opened at $106.37 on Friday. The stock has a market capitalization of $22.02 billion, a P/E ratio of 168.83, a P/E/G ratio of 2.72 and a beta of 1.57. Tapestry has a 12 month low of $47.22 and a 12 month high of $118.56. The firm’s fifty day simple moving average is $110.70 and its 200 day simple moving average is $96.49. The company has a current ratio of 1.87, a quick ratio of 1.31 and a debt-to-equity ratio of 2.77.

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

Insider Activity

In other news, Director Alan Ka Ming Lau sold 11,320 shares of the business’s stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $106.19, for a total value of $1,202,070.80. Following the sale, the director owned 8,153 shares of the company’s stock, valued at $865,767.07. The trade was a 58.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Manesh Dadlani sold 7,882 shares of the business’s stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $99.05, for a total transaction of $780,712.10. Following the completion of the sale, the vice president directly owned 21,098 shares in the company, valued at approximately $2,089,756.90. This trade represents a 27.20% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 1.32% of the company’s stock.

Institutional Trading of Tapestry

Several hedge funds and other institutional investors have recently modified their holdings of TPR. Harbour Investments Inc. raised its position in shares of Tapestry by 120.1% in the first quarter. Harbour Investments Inc. now owns 361 shares of the luxury accessories retailer’s stock valued at $25,000 after purchasing an additional 197 shares during the period. Flaharty Asset Management LLC bought a new stake in shares of Tapestry in the first quarter valued at approximately $25,000. First PREMIER Bank bought a new stake in shares of Tapestry in the second quarter valued at approximately $25,000. Cloud Capital Management LLC bought a new stake in shares of Tapestry in the third quarter valued at approximately $26,000. Finally, Vestor Capital LLC bought a new stake in shares of Tapestry in the second quarter valued at approximately $27,000. Institutional investors own 90.77% of the company’s stock.

Tapestry Company Profile

(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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