Analyst actions after fourth-quarter results
Tapestry’s (TPR) strong fourth-quarter results, which the company released on August 14, were followed by several target price increases from Wall Street. Analysts that raised their price targets included the following:
- Jefferies: $48 to $52
- RBC: $53 to $58
- Canaccord Genuity: $55 to $63
- Credit Suisse: $58 to $61
However, there weren’t any rating changes for the company.
Ratings and recommendations
36 Wall Street analysts cover Tapestry. 67% of these analysts recommend buying the stock, 31% recommend holding it, while 3% suggest selling it. The company is rated a 2.1 on a scale where one is a “strong buy” and five is a “strong sell.” Buckingham, Goldman Sachs, and Susquehanna are among the brokers who recommend buying the stock, while Jefferies and Barclays suggest holding it.
Tapestry has more “buy” ratings than handbag rival Michael Kors (KORS) with 37% and apparel peers Ralph Lauren (RL) with 20% and Hanesbrands (HBI) with 40%. VF Corp (VFC) and PVH Corp (PVH), however, have been rated as a “buy” by 79% and 70% of analysts, respectively.
Tapestry stock upside
Tapestry is currently trading at $53.16, close to its 52-week high price. Wall Street expects the company’s stock price to increase another 7% over the next year to $57.03. Individual price targets on the company range between $42 and $65.
Investors looking for exposure to TPR through ETFs can choose to invest in the WisdomTree MidCap Dividend Fund (DON). TPR has exposure of ~1.2% in DON.