Tapestry (NYSE:TPR) Rating Lowered to “Buy” at Wall Street Zen

Tapestry (NYSE:TPR) was downgraded by equities researchers at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a note issued to investors on Monday.

Several other equities analysts have also issued reports on TPR. TD Cowen raised Tapestry from a “hold” rating to a “buy” rating and set a $100.00 price target on the stock in a research note on Thursday, June 12th. Wells Fargo & Company boosted their price objective on Tapestry from $100.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, August 14th. Bank of America lowered shares of Tapestry from a “buy” rating to a “neutral” rating and raised their target price for the company from $95.00 to $115.00 in a research note on Tuesday, July 29th. Telsey Advisory Group reissued an “outperform” rating and set a $125.00 price target on shares of Tapestry in a research note on Thursday, September 11th. Finally, Argus increased their price objective on shares of Tapestry from $78.00 to $92.00 and gave the company a “buy” rating in a report on Tuesday, June 17th. Seventeen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Tapestry currently has a consensus rating of “Moderate Buy” and a consensus target price of $106.47.

Tapestry Trading Up 1.9%

TPR opened at $116.04 on Monday. Tapestry has a 1-year low of $43.07 and a 1-year high of $116.49. The stock has a market capitalization of $24.15 billion, a PE ratio of 184.19, a PEG ratio of 2.75 and a beta of 1.52. The company has a current ratio of 1.87, a quick ratio of 1.31 and a debt-to-equity ratio of 2.77. The firm has a 50-day moving average price of $106.01 and a two-hundred day moving average price of $87.05.

Tapestry (NYSE:TPR) last released its quarterly earnings results 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 prior year, the firm earned $0.92 earnings per share. Tapestry’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, equities analysts anticipate that Tapestry will post 4.91 earnings per share for the current fiscal year.

Insider Activity

In related news, VP Manesh Dadlani sold 7,882 shares of the stock in a transaction that occurred 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 completion of the sale, the vice president directly owned 21,098 shares of the company’s stock, valued at approximately $2,089,756.90. This represents a 27.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Alan Ka Ming Lau sold 11,320 shares of the firm’s stock in a transaction that occurred on 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 corporate insiders.

Institutional Investors Weigh In On Tapestry

Large investors have recently made changes to their positions in the stock. Osaic Holdings Inc. boosted its stake in Tapestry by 50.8% in the 2nd quarter. Osaic Holdings Inc. now owns 28,943 shares of the luxury accessories retailer’s stock worth $2,517,000 after purchasing an additional 9,755 shares during the period. Centaurus Financial Inc. acquired a new stake in shares of Tapestry in the 2nd quarter valued at about $135,000. MASTERINVEST Kapitalanlage GmbH bought a new stake in shares of Tapestry in the second quarter valued at about $822,000. Clarion Wealth Managment Partners LLC bought a new stake in shares of Tapestry in the second quarter valued at about $1,317,000. Finally, B. Riley Wealth Advisors Inc. bought a new position in shares of Tapestry during the second quarter worth about $265,000. Institutional investors own 90.77% of the company’s stock.

About Tapestry

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.