Coach Inc. (COH) Given a $46.00 Price Target by Piper Jaffray Cos. Analysts
Several other research firms also recently weighed in on COH. Vetr downgraded shares of Coach from a strong-buy rating to a buy rating and set a $48.50 price target for the company. in a research report on Tuesday, August 2nd. Zacks Investment Research downgraded shares of Coach from a hold rating to a sell rating in a research report on Tuesday, July 19th. OTR Global upgraded shares of Coach to a positive rating in a research report on Monday, August 1st. Credit Suisse Group AG upgraded shares of Coach from a neutral rating to an outperform rating and upped their price target for the stock from $42.00 to $47.00 in a research report on Wednesday, July 27th. Finally, BMO Capital Markets restated a hold rating and set a $31.00 price target on shares of Coach in a research report on Thursday, July 28th. Two analysts have rated the stock with a sell rating, nineteen have given a hold rating and twenty have assigned a buy rating to the company. The company has a consensus rating of Hold and an average price target of $41.81.
Coach (NYSE:COH) opened at 36.16 on Monday. The stock has a market capitalization of $10.09 billion, a P/E ratio of 21.92 and a beta of 0.90. The stock has a 50 day moving average price of $39.05 and a 200-day moving average price of $39.70. Coach has a 1-year low of $27.22 and a 1-year high of $43.71.
Coach (NYSE:COH) last released its quarterly earnings results on Tuesday, August 9th. The luxury accessories retailer reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.04. Coach had a net margin of 10.25% and a return on equity of 21.32%. The firm earned $1.15 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the prior year, the firm earned $0.31 EPS. The company’s revenue for the quarter was up 15.0% on a year-over-year basis. Equities research analysts expect that Coach will post $2.16 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Monday, September 12th will be issued a $0.3375 dividend. This represents a $1.35 annualized dividend and a dividend yield of 3.76%. The ex-dividend date is Thursday, September 8th. Coach’s payout ratio is 81.82%.
Hedge funds have recently added to or reduced their stakes in the company. Norges Bank bought a new stake in Coach during the fourth quarter worth approximately $95,338,000. Bank of Montreal Can bought a new stake in Coach during the second quarter worth approximately $48,321,000. Jericho Capital Asset Management L.P. bought a new stake in Coach during the first quarter worth approximately $45,839,000. FMR LLC increased its stake in Coach by 6.9% in the second quarter. FMR LLC now owns 14,358,797 shares of the luxury accessories retailer’s stock worth $584,978,000 after buying an additional 927,743 shares in the last quarter. Finally, Janus Capital Management LLC increased its stake in Coach by 1,271.3% in the second quarter. Janus Capital Management LLC now owns 970,227 shares of the luxury accessories retailer’s stock worth $39,527,000 after buying an additional 899,476 shares in the last quarter. 90.02% of the stock is currently owned by hedge funds and other institutional investors.
Coach, Inc (Coach) is a design house of modern luxury accessories and lifestyle collections. The Company operates through three segments: North America, which includes sales to North American consumers through Coach-branded stores (including the Internet) and sales to wholesale customers; International segment, which includes sales to consumers through Coach-branded stores (including the Internet) and concession shop-in-shops in Japan and mainland China, Coach-operated stores and concession shop-in-shops in Hong Kong, Macau, Singapore, Taiwan, Malaysia, South Korea, the United Kingdom, France, Ireland, Spain, Portugal, Germany, Italy, Belgium and the Netherlands, as well as sales to wholesale customers and distributors in approximately 45 countries, and Other segment, which consists of sales and expenses generated by the Coach brand in other ancillary channels, including licensing and disposition.
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