Tapestry (NYSE:TPR) Coverage Initiated at BTIG Research

Analysts at BTIG Research assumed coverage on shares of Tapestry (NYSE:TPR) in a research note issued to investors on Tuesday, MarketBeat reports. The firm set a “buy” rating on the luxury accessories retailer’s stock.

A number of other equities research analysts also recently weighed in on the stock. Wall Street Zen downgraded shares of Tapestry from a “strong-buy” rating to a “buy” rating in a research note on Monday, September 22nd. Barclays boosted their target price on shares of Tapestry from $111.00 to $127.00 and gave the stock an “overweight” rating in a report on Thursday, September 11th. Argus boosted their price target on shares of Tapestry from $78.00 to $92.00 and gave the stock a “buy” rating in a research report on Tuesday, June 17th. The Goldman Sachs Group lifted their price objective on shares of Tapestry from $116.00 to $130.00 and gave the company a “buy” rating in a research note on Monday, October 6th. Finally, Sanford C. Bernstein restated an “outperform” rating and set a $112.00 price target on shares of Tapestry in a research note on Friday, August 15th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $110.00.

Tapestry Trading Up 0.4%

TPR opened at $116.69 on Tuesday. The company’s 50 day moving average is $107.90 and its 200-day moving average is $91.50. Tapestry has a 1-year low of $43.07 and a 1-year high of $118.56. 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 company has a market cap of $24.16 billion, a P/E ratio of 185.22, a PEG ratio of 2.80 and a beta of 1.57.

Tapestry (NYSE:TPR) last posted its quarterly earnings results on Thursday, August 14th. The luxury accessories retailer reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.02 by $0.02. Tapestry had a net margin of 2.61% and a return on equity of 68.02%. The company had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.67 billion. During the same period last year, the company posted $0.92 EPS. The firm’s quarterly 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. Equities research analysts predict that Tapestry will post 4.91 earnings per share for the current fiscal year.

Insider Activity

In other news, VP Manesh Dadlani sold 7,882 shares of the company’s stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $99.05, for a total transaction of $780,712.10. Following the sale, the vice president directly owned 21,098 shares in the company, valued at $2,089,756.90. This represents a 27.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Alan Ka Ming Lau sold 11,320 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $865,767.07. This represents a 58.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.32% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Harbour Investments Inc. increased 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 worth $25,000 after purchasing an additional 197 shares during the last quarter. Flaharty Asset Management LLC bought a new position in shares of Tapestry in the first quarter worth approximately $25,000. First PREMIER Bank bought a new position in shares of Tapestry in the second quarter worth approximately $25,000. Vestor Capital LLC bought a new position in shares of Tapestry in the second quarter worth approximately $27,000. Finally, Caitong International Asset Management Co. Ltd bought a new position in Tapestry during the first quarter valued at approximately $29,000. 90.77% of the stock is currently owned by institutional investors.

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.