In a remarkable display of market confidence, Tapestry, Inc. (NYSE: NYSE:TPR), the parent company of Coach , has seen its stock price surge to a 52-week high of $66.53. According to InvestingPro data, the company boasts a substantial market capitalization of $15.29 billion and trades at a P/E ratio of 18.7x. This peak reflects a significant turnaround from previous market performances, with the luxury fashion holding company experiencing an impressive 83.44% increase over the past year. Investors attribute this bullish trend to the company’s successful restructuring efforts, robust earnings reports, and a strong consumer response to its brands, which, in addition to Coach, include Kate Spade and Stuart Weitzman. The company’s financial health score is rated as "GREAT" by InvestingPro, supported by impressive gross profit margins of 73.9%. The 52-week high milestone underscores the market’s optimistic outlook on Tapestry’s growth trajectory and its ability to maintain momentum in the competitive luxury goods sector. While the stock is trading slightly above its InvestingPro Fair Value, analysts have identified 14 additional key insights about Tapestry’s financial outlook, available through the comprehensive Pro Research Report.
In other recent news, Tapestry Inc. has been the subject of numerous recent developments. Jefferies has upgraded Tapestry Inc. from Hold to Buy, following the completion of a deal with Capri Holdings (NYSE:CPRI) Limited. The firm also increased its price target for the company to $80, citing Tapestry’s improving sales growth, expanding margins, and share buyback program. Meanwhile, S&P Global Ratings has revised Tapestry’s financial outlook from negative to stable, following the termination of a merger agreement with Capri Holdings Ltd.
BofA Securities has reaffirmed a Buy rating on Tapestry Inc., increasing its price target from $65.00 to $75.00 following the completion of a $2 billion accelerated share repurchase agreement. On the other hand, TD Cowen maintained its Hold rating on Tapestry, citing the success of the Coach brand in defying negative industry trends. Baird also maintained its Outperform rating on Tapestry, increasing the price target to $64.00 from $58.00, following the termination of a potential deal and the unveiling of a $2.8 billion stock buyback plan.
In terms of earnings and revenue, Tapestry’s first-quarter results were robust, exceeding expectations. The company reported a 27% increase in total revenue in Europe and a 5% decrease in Greater China. Despite these mixed results, Tapestry remains optimistic about its future, aiming for a full-year revenue growth of 1-2% and expecting to expand its gross margin by over 50 basis points by fiscal 2025. These are recent developments that provide valuable insights for investors.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.