Tapestry Inc (TPR) Receives a Buy from Wells Fargo

By Ryan Adsit

In a report released yesterday, Ike Boruchow from Wells Fargo maintained a Buy rating on Tapestry Inc (TPRResearch Report). The company’s shares closed last Monday at $25.58.

According to TipRanks.com, Boruchow is a 1-star analyst with an average return of -0.7% and a 44.9% success rate. Boruchow covers the Services sector, focusing on stocks such as Capri Holdings Limited, Burlington Stores, and Urban Outfitters.

Tapestry Inc has an analyst consensus of Moderate Buy, with a price target consensus of $28, a 9.5% upside from current levels. In a report issued on September 4, Merrill Lynch also maintained a Buy rating on the stock with a $28 price target.

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Based on Tapestry Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $149 million. In comparison, last year the company had a net profit of $212 million.

Based on the recent corporate insider activity of 46 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.