Why Tapestry (TPR) is a Top Momentum Stock for the Long-Term
Taking full advantage of the stock market and investing with confidence are common goals for new and old investors alike.
While you may have an investing style you rely on, finding great stocks is made easier with the Zacks Style Scores. These are complementary indicators that rate stocks based on value, growth, and/or momentum characteristics.
Is This 1 Momentum Stock a Screaming Buy Right Now?
Different than value or growth investors, momentum-oriented investors live by the saying "the trend is your friend." This investing style is all about taking advantage of upward or downward trends in a stock's price or earnings outlook. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in 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 sits at a Zacks Rank #3 (Hold), holds a Momentum Style Score of B, and has a VGM Score of B. The stock is up 3.8% and up 0.6% over the past one-week and four-week period, respectively, and Tapestry has lost 16.8% in the last one-year period as well. Additionally, an average of 3,593,418 shares were traded over the last 20 trading sessions.
A company's earnings performance is important for momentum investors as well. For fiscal 2024, three analysts revised their earnings estimate higher in the last 60 days for TPR, while the Zacks Consensus Estimate has increased $0 to $4.13 per share. TPR also boasts an average earnings surprise of 10.6%.
With strong earnings growth, a good Zacks Rank, and top-tier Momentum and VGM Style Scores, investors should think about adding TPR to their portfolios.
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Tapestry, Inc. (TPR) : Free Stock Analysis Report
