Coach shares surge to 52-week high at $69.12 on strong growth

In a remarkable display of resilience and growth, shares of Coach (TPR), a leading designer of contemporary luxury accessories and lifestyle lines, reached a new 52-week high of $69.12. The milestone highlights the company’s remarkable momentum, having returned an impressive 91.77% over the past year. The company maintains an impressive gross margin of 73.91% and receives an “Excellent” financial health rating, according to InvestingPro . Investors and market analysts attribute the surge to strategic brand revitalization efforts and strong consumer response to Coach’s product lines, signaling a strong recovery and positive outlook for the luxury goods market. Based on InvestingPro ‘s Fair Value Analysis shows that the stock appears to be approaching its fair value, and there are 13 additional ProTips that can help investors make an informed decision on this luxury retailer.

In other recent news, Tapestry Inc. was the subject of multiple analyst reviews. CFRA analyst Zachary Warring downgraded Tapestry’s stock to Sell from Hold, but raised his price target to $56. The decision reflects his belief that Tapestry’s shares are now overvalued and that he expects a period of underperformance ahead. However, analysts from Jefferies and Barclays upgraded Tapestry’s stock and raised their price targets, citing expected sales growth, margin expansion, and share repurchase plans. BofA Securities also reiterated its Buy rating on Tapestry, raising its price target after completing a $2 billion accelerated share repurchase agreement.

Tapestry’s recent first quarter results beat expectations, leading to an increase in full-year revenue and earnings guidance. The company reported a 27% increase in total revenue in Europe and a 5% decrease in Greater China, targeted full-year revenue growth of 1-2%, and expects to expand gross margins by more than 50 basis points by fiscal 2025.

S&P Global Ratings revised the company’s financial outlook from negative to stable after it terminated its merger agreement with Capri Holdings Ltd due to regulatory uncertainty. Bernstein, a well-known financial research firm, expects that large global brands like Tapestry will be minimally affected by a possible 10% increase in Chinese import tariffs due to their diversified supply chains and international market presence. These are the latest developments in the company’s development journey.