Tapestry Inc. (NYSE:TPR) shares surged to a record high of $90.89, reflecting growing investor confidence and marking a major milestone for the luxury fashion house. The stock has delivered a staggering 129.89% total return over the past year, fueled by strong brand performance and a solid financial foundation.
Best known for its premium brands like Coach and Kate Spade, Tapestry has posted impressive gross margins of 75.09% and maintains a current ratio of 1.76—indicators of both profitability and financial health. The company has also demonstrated long-term shareholder commitment, maintaining dividend payouts for 17 consecutive years.
The latest boost comes on the heels of earnings and revenue that beat Wall Street expectations, largely driven by continued momentum from Coach, which remains a standout performer in the portfolio. Strong demand for Coach products has helped power revenue growth and strengthen cash flow.
Analysts have responded positively. BMO Capital Markets raised its price target to $80 while keeping a Market Perform rating. Citi took a more bullish stance, increasing its target to $94 and maintaining a Buy rating, citing Coach’s critical role in driving free cash flow. Raymond James also upped its target to $85 with an Outperform rating, and Morgan Stanley upgraded the stock to Overweight with a $90 price target, pointing to the likelihood of near-term earnings per share revisions.
Altogether, the surge in Tapestry’s stock price and analyst upgrades reflect growing optimism about the company’s ability to maintain brand strength, deliver consistent results, and navigate market headwinds effectively. Tapestry appears well-positioned to continue thriving in the competitive luxury retail space.