Here's Why Tapestry (TPR) is a Strong Momentum Stock
Taking full advantage of the stock market and investing with confidence are common goals for new and old investors alike.
Achieving those goals is made easier with the Zacks Style Scores, a unique set of guidelines that rates stocks based on popular investing methodologies, namely value, growth, and momentum. The Style Scores can help you narrow down which stocks are better for your portfolio and which ones can beat the market over the long-term.
Is This 1 Momentum Stock a Screaming Buy Right Now?
Momentum investors, who live by the saying "the trend is your friend," are most interested in taking advantage of upward or downward trends in a stock's price or earnings outlook. Utilizing one-week price change and the monthly percentage change in earnings estimates, among other factors, the Momentum Style Score can help determine favorable times to buy high-momentum stocks.
Tapestry (TPR)
Founded in 1941 and headquartered in New York, Tapestry, Inc., which was formerly known as Coach, Inc., is the designer and marketer of fine accessories and gifts for women and men in the United States and internationally. The Company offers lifestyle products, which include handbags, women’s and men’s accessories, footwear, jewelry, seasonal apparel collections, sunwear, travel bags, fragrance and watches. Tapestry now operate under three segments comprising Coach brand (North America and International - 74.5% of FY23 Sales), Kate Spade & Company (21.3% of FY23 Sales) and Stuart Weitzman (4.2% of FY23 Sales).
TPR is a Zacks Rank #2 (Buy) stock, with a Momentum Style Score of B and VGM Score of A. Shares are up 1.7% over the past one week and up 20.5% over the past four weeks. TPR has gained 9.2% in the last one-year period as well. Looking at trading volume, an average of 4,135,636.50 shares exchanged hands over the last 20 trading days.
Momentum investors also pay close attention to a company's earnings. For TPR, seven analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.09 to $4.23 per share for 2024. TPR boasts an average earnings surprise of 11.7%.
TPR should be on investors' short list because of its impressive earnings fundamentals, a good Zacks Rank, and strong Momentum and VGM Style Scores.
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Tapestry, Inc. (TPR) : Free Stock Analysis Report
