Oppenheimer analyst Brian Nagel assigned a Hold rating to Tapestry (TPR) today. The company’s shares closed last Thursday at $46.80, close to its 52-week high of $49.42.
According to TipRanks.com, Nagel is a top 25 analyst with an average return of 37.5% and a 77.7% success rate. Nagel covers the Consumer Goods sector, focusing on stocks such as Dick’s Sporting Goods, Lululemon Athletica, and The Lovesac Company.
Tapestry has an analyst consensus of Moderate Buy, with a price target consensus of $50.75, implying a 5.7% upside from current levels. In a report issued on April 30, UBS also maintained a Hold rating on the stock with a $53.00 price target.
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Based on Tapestry’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $1.69 billion and net profit of $311 million. In comparison, last year the company earned revenue of $1.82 billion and had a net profit of $299 million.
Based on the recent corporate insider activity of 39 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of TPR in relation to earlier this year.
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Tapestry, Inc. engages in the provision of luxury accessories and lifestyle brands. It operates through the following segments: Coach, Kate Spade, Stuart Weitzman, and Corporate. The Coach segment consists global sales of coach brand products to customers through coach operated stores, including the internet and concession shop-in-shops, and sales to wholesale customers, and through independent third party distributors. The Kate Spade segment focuses on Kate Spade New York brand products to customers through Kate Spade operated stores, including the Internet, sales to wholesale customers, through concession shop-in-shops and through independent third party distributors. The Stuart Weitzman segment comprises Stuart Weitzman brand products primarily through Stuart Weitzman operated stores. The Corporate segment represents certain costs that are not directly distributed to a brand. The company was founded by Dawn Hughes in 1941 and is headquartered in New York, NY.
