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Tapestry (TPR) Outpaces Stock Market Gains: What You Should Know
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Tapestry (TPR - Free Report) closed at $38.21 in the latest trading session, marking a +1.89% move from the prior day. This change outpaced the S&P 500's 0.92% gain on the day. Elsewhere, the Dow gained 0.51%, while the tech-heavy Nasdaq added 0.54%.
Coming into today, shares of the maker of high-end shoes and handbags had lost 10.82% in the past month. In that same time, the Retail-Wholesale sector lost 4.75%, while the S&P 500 lost 0.85%.
Wall Street will be looking for positivity from Tapestry as it approaches its next earnings report date. On that day, Tapestry is projected to report earnings of $1.18 per share, which would represent year-over-year growth of 2.61%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.98 billion, up 17.62% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.50 per share and revenue of $6.59 billion, which would represent changes of +17.85% and +14.76%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Tapestry. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Tapestry is currently a Zacks Rank #2 (Buy).
Digging into valuation, Tapestry currently has a Forward P/E ratio of 10.7. For comparison, its industry has an average Forward P/E of 11.98, which means Tapestry is trading at a discount to the group.
We can also see that TPR currently has a PEG ratio of 0.87. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Retail - Apparel and Shoes industry currently had an average PEG ratio of 0.87 as of yesterday's close.
The Retail - Apparel and Shoes industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 77, putting it in the top 31% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Tapestry (TPR) Outpaces Stock Market Gains: What You Should Know
Tapestry (TPR - Free Report) closed at $38.21 in the latest trading session, marking a +1.89% move from the prior day. This change outpaced the S&P 500's 0.92% gain on the day. Elsewhere, the Dow gained 0.51%, while the tech-heavy Nasdaq added 0.54%.
Coming into today, shares of the maker of high-end shoes and handbags had lost 10.82% in the past month. In that same time, the Retail-Wholesale sector lost 4.75%, while the S&P 500 lost 0.85%.
Wall Street will be looking for positivity from Tapestry as it approaches its next earnings report date. On that day, Tapestry is projected to report earnings of $1.18 per share, which would represent year-over-year growth of 2.61%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.98 billion, up 17.62% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.50 per share and revenue of $6.59 billion, which would represent changes of +17.85% and +14.76%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Tapestry. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Tapestry is currently a Zacks Rank #2 (Buy).
Digging into valuation, Tapestry currently has a Forward P/E ratio of 10.7. For comparison, its industry has an average Forward P/E of 11.98, which means Tapestry is trading at a discount to the group.
We can also see that TPR currently has a PEG ratio of 0.87. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Retail - Apparel and Shoes industry currently had an average PEG ratio of 0.87 as of yesterday's close.
The Retail - Apparel and Shoes industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 77, putting it in the top 31% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.