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Tapestry (TPR) Gets a Buy Rating from Wells Fargo

In a report issued on February 1, Ike Boruchow from Wells Fargo maintained a Buy rating on Tapestry (TPRResearch Report), with a price target of $58.00. The company’s shares closed last Monday at $38.65.

According to TipRanks.com, Boruchow is a 3-star analyst with an average return of 2.8% and a 45.5% success rate. Boruchow covers the Consumer Goods sector, focusing on stocks such as aka Brands Holding Corp, Canada Goose Holdings, and Lululemon Athletica.

Currently, the analyst consensus on Tapestry is a Moderate Buy with an average price target of $52.81, a 36.3% upside from current levels. In a report issued on February 3, Barclays also maintained a Buy rating on the stock with a $48.00 price target.

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Based on Tapestry’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $1.48 billion and net profit of $227 million. In comparison, last year the company earned revenue of $1.17 billion and had a net profit of $232 million.

Based on the recent corporate insider activity of 48 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.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.

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