Tapestry saw an improvement in its IBD SmartSelect Composite Rating Friday, from 93 to 97.
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The revised score means the stock currently tops 97% of all other stocks in terms of key performance metrics and technical strength. The market's biggest winners often have a 95 or higher rating in the early stages of a new price run, so that's an important benchmark to look for when looking for the best stocks to buy and watch.
Tapestry is currently forming a cup without handle, with a 90.85 entry. Look for the stock to break out in volume at least 40% higher than normal.
The stock sports a 96 EPS Rating, which means its recent quarterly and annual earnings growth is outpacing 96% of all stocks.
Its Accumulation/Distribution Rating of B- shows moderate buying by institutional investors over the last 13 weeks.
The company posted 27% earnings growth for Q3. That means it's now posted three straight quarters of rising EPS growth. Sales growth increased 7%, up from 5% in the prior quarter. That marks three quarters of rising growth.
Tapestry holds the No. 1 rank among its peers in the Apparel-Clothing Manufacturing industry group. Ralph Lauren Cl A and Gildan Activewear are also among the group's highest-rated stocks.
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