Tapestry (NYSE:TPR) Stock Rating Upgraded by Daiwa America

Tapestry (NYSE:TPR) was upgraded by equities researchers at Daiwa America to a “hold” rating in a research note issued on Monday,Zacks.com reports.

Several other analysts also recently commented on TPR. StockNews.com downgraded shares of Tapestry from a “buy” rating to a “hold” rating in a report on Monday, October 28th. Evercore ISI increased their price objective on shares of Tapestry from $47.00 to $63.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. The Goldman Sachs Group boosted their target price on Tapestry from $58.00 to $66.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. TD Cowen downgraded Tapestry from a “buy” rating to a “hold” rating and set a $52.00 price target for the company. in a research report on Tuesday, October 29th. Finally, Robert W. Baird boosted their price objective on Tapestry from $58.00 to $64.00 and gave the stock an “outperform” rating in a research report on Friday, November 15th. Eight analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, Tapestry currently has an average rating of “Moderate Buy” and a consensus price target of $57.78.

Tapestry Trading Down 0.6 %

Shares of Tapestry stock opened at $55.30 on Monday. The stock has a market capitalization of $12.89 billion, a PE ratio of 15.98, a price-to-earnings-growth ratio of 1.98 and a beta of 1.53. The stock has a 50 day moving average price of $47.41 and a two-hundred day moving average price of $43.32. The company has a debt-to-equity ratio of 2.35, a quick ratio of 4.38 and a current ratio of 4.93. Tapestry has a 52 week low of $30.20 and a 52 week high of $58.49.

Insider Transactions at Tapestry

In related news, VP Manesh Dadlani sold 8,872 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $57.96, for a total value of $514,221.12. Following the transaction, the vice president now owns 35,003 shares of the company’s stock, valued at $2,028,773.88. This represents a 20.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.18% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Tapestry

Institutional investors have recently modified their holdings of the company. Redwood Investment Management LLC raised its holdings in Tapestry by 0.4% during the 3rd quarter. Redwood Investment Management LLC now owns 47,407 shares of the luxury accessories retailer’s stock valued at $2,269,000 after buying an additional 204 shares during the last quarter. Lebenthal Global Advisors LLC increased its position in shares of Tapestry by 2.8% in the third quarter. Lebenthal Global Advisors LLC now owns 7,813 shares of the luxury accessories retailer’s stock valued at $367,000 after acquiring an additional 215 shares during the period. OneDigital Investment Advisors LLC raised its stake in shares of Tapestry by 3.0% during the third quarter. OneDigital Investment Advisors LLC now owns 7,520 shares of the luxury accessories retailer’s stock valued at $353,000 after acquiring an additional 218 shares during the last quarter. Mather Group LLC. boosted its holdings in shares of Tapestry by 12.9% during the second quarter. Mather Group LLC. now owns 2,181 shares of the luxury accessories retailer’s stock worth $104,000 after purchasing an additional 249 shares during the period. Finally, Summit Trail Advisors LLC grew its stake in shares of Tapestry by 1.6% in the third quarter. Summit Trail Advisors LLC now owns 16,273 shares of the luxury accessories retailer’s stock worth $765,000 after purchasing an additional 251 shares during the last quarter. 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.