Tapestry Inc [TPR] stock Reiterated by Telsey Advisory Group analyst, price target now $54

Tapestry Inc [NYSE: TPR] loss -1.65% on the last trading session, reaching $46.99 price per share at the time. The company report on February 29, 2024 at 6:45 AM that Tapestry, Inc. Appoints Kevin Hourican and David Elkins to Board of Directors.

Tapestry, Inc. (NYSE: TPR), a house of iconic accessories and lifestyle brands consisting of Coach, Kate Spade, and Stuart Weitzman, today announced that Kevin Hourican, President and Chief Executive Officer of Sysco Corporation (NYSE: SYY), and David Elkins, Executive Vice President and Chief Financial Officer of Bristol Myers Squibb (NYSE: BMY), have been appointed to the Company’s Board of Directors. The appointments of Mr. Hourican and Mr. Elkins to the Board bring the membership to eleven, including ten independent directors.

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Joanne Crevoiserat, Chief Executive Officer of Tapestry, Inc., said, “We are pleased to welcome Kevin and David to our Board – two proven leaders in driving global growth and transformation at scale. I am confident that their experience and insights will be invaluable, particularly at this exciting time in our company’s history. I look forward to working with them as we execute our strategic agenda and position Tapestry as a leader in innovation and shareholder returns for years to come.”.

If compared to the average trading volume of 3.81M shares, TPR reached a trading volume of 3954839 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Tapestry Inc [TPR]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for TPR shares is $50.18 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on TPR stock is a recommendation set at 1.86. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Telsey Advisory Group have made an estimate for Tapestry Inc shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on Mar-07-24. The new note on the price target was released on February 29, 2024, representing the official price target for Tapestry Inc stock. Previously, the target price had yet another raise from $30 to $50, while Evercore ISI kept a Outperform rating on TPR stock.

The Average True Range (ATR) for Tapestry Inc is set at 1.20, with the Price to Sales ratio for TPR stock in the period of the last 12 months amounting to 1.60. The Price to Book ratio for the last quarter was 4.05, with the Price to Cash per share for the same quarter was set at 32.53. Price to Free Cash Flow for TPR in the course of the last twelve months was 8.32 with Quick ratio for the last quarter at 5.68.

Trading performance analysis for TPR stock

Tapestry Inc [TPR] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.53. With this latest performance, TPR shares gained by 16.40% in over the last four-week period, additionally plugging by 42.35% over the last 6 months – not to mention a rise of 7.92% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for TPR stock in for the last two-week period is set at 65.13, with the RSI for the last a single of trading hit 59.99, and the three-weeks RSI is set at 66.84 for Tapestry Inc [TPR]. The present Moving Average for the last 50 days of trading for this stock 41.06, while it was recorded at 47.36 for the last single week of trading, and 36.71 for the last 200 days.

Tapestry Inc [TPR]: A deeper dive into fundamental analysis

Tapestry Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 5.68 and a Current Ratio set at 6.25.

Tapestry Inc [TPR]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Tapestry Inc posted 0.78/share EPS, while the average EPS was predicted by analysts to be reported at 0.59/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 32.20%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for TPR. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Tapestry Inc go to 11.00%.

An analysis of Institutional ownership at Tapestry Inc [TPR]

The top three institutional holders of TPR stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in TPR stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in TPR stock with ownership which is approximately 5.8325%.