Tapestry saw an improvement in its IBD SmartSelect Composite Rating Friday, from 92 to 97.
The new rating shows the stock is outpacing 97% of all stocks when it comes to the most important stock-picking criteria. The market's biggest winners often have a 95 or higher score 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 now out of buy range after clearing the 44.63 entry in a double bottom.
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The stock sports a 92 EPS Rating, which means its recent quarterly and longer-term annual earnings growth is outpacing 92% of all stocks.
Its Accumulation/Distribution Rating of A- shows heavy buying by institutional investors, such as mutual funds and pension funds, over the last 13 weeks.
In Q2, the company reported 23% earnings growth. It has now posted accelerating EPS growth for two consecutive quarters. Sales growth increased 5%, up from 0% in the prior report. The company has now posted increasing growth in each of the last two reports.
Tapestry earns 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.
