Tapestry (TPR) PT Set at $58.00 by Royal Bank of Canada
Tapestry (NYSE:TPR) received a $58.00 price target from equities research analysts at Royal Bank of Canada in a research report issued to clients and investors on Wednesday, The Fly reports. The brokerage presently has a “buy” rating on the luxury accessories retailer’s stock. Royal Bank of Canada’s price objective would indicate a potential upside of 12.88% from the stock’s previous close.
A number of other brokerages also recently weighed in on TPR. Oppenheimer lifted their target price on shares of Tapestry from $60.00 to $65.00 in a research note on Monday, April 30th. Canaccord Genuity set a $59.00 price target on shares of Tapestry and gave the stock a “buy” rating in a report on Friday, April 27th. Guggenheim restated a “buy” rating and issued a $65.00 price target on shares of Tapestry in a report on Friday, April 27th. Buckingham Research assumed coverage on shares of Tapestry in a report on Friday, April 20th. They issued a “buy” rating and a $62.00 price target for the company. Finally, Deutsche Bank raised their price target on shares of Tapestry to $64.00 and gave the stock a “buy” rating in a report on Thursday, April 19th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, eight have given a hold rating and twenty have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $56.10.
Shares of NYSE TPR opened at $51.38 on Wednesday. Tapestry has a twelve month low of $38.70 and a twelve month high of $55.50. The firm has a market cap of $13.80 billion, a P/E ratio of 23.90, a PEG ratio of 1.46 and a beta of 0.40. The company has a quick ratio of 1.83, a current ratio of 2.66 and a debt-to-equity ratio of 0.51.
Hedge funds and other institutional investors have recently modified their holdings of the company. Stelac Advisory Services LLC acquired a new position in shares of Tapestry during the first quarter valued at about $130,000. LifePlan Financial Group Inc acquired a new position in shares of Tapestry during the second quarter valued at about $142,000. Stratos Wealth Partners LTD. acquired a new position in shares of Tapestry during the first quarter valued at about $155,000. Twin Tree Management LP grew its holdings in shares of Tapestry by 128.9% during the second quarter. Twin Tree Management LP now owns 3,394 shares of the luxury accessories retailer’s stock valued at $159,000 after buying an additional 15,144 shares during the last quarter. Finally, Pitcairn Co. acquired a new position in shares of Tapestry during the first quarter valued at about $201,000. Hedge funds and other institutional investors own 90.23% of the company’s stock.
Tapestry, Inc provides luxury accessories and lifestyle brands. It offers handbags, wallets, money pieces, wristlets and cosmetic cases, key rings, and charms, as well as address books, time management accessories, sketchbooks, and portfolios for women; and business cases, computer bags, messenger-style bags, backpacks, totes, wallets, card cases, belts, sunglasses, watches, novelty accessories, and ready-to-wear for men.
Further Reading: NASDAQ Stock Market Explained
Receive News & Ratings for Tapestry Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tapestry and related companies with MarketBeat.com's FREE daily email newsletter.