Coach Inc (COH) Rating Reiterated by Jefferies Group LLC
Coach Inc (NYSE:COH)‘s stock had its “buy” rating reissued by research analysts at Jefferies Group LLC in a note issued to investors on Wednesday. They presently have a $53.00 price objective on the luxury accessories retailer’s stock. Jefferies Group LLC’s target price indicates a potential upside of 33.23% from the company’s previous close.
A number of other equities research analysts have also recently weighed in on the company. BMO Capital Markets reaffirmed a “hold” rating and set a $39.00 price target on shares of Coach in a report on Tuesday. Piper Jaffray Companies set a $43.00 price target on Coach and gave the company a “buy” rating in a report on Wednesday, April 12th. Zacks Investment Research cut Coach from a “buy” rating to a “hold” rating in a report on Wednesday, April 12th. Oppenheimer Holdings Inc. reaffirmed a “buy” rating on shares of Coach in a report on Thursday, April 6th. Finally, Vetr raised Coach from a “hold” rating to a “strong-buy” rating and set a $46.00 price target for the company in a report on Monday, April 3rd. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $44.08.
Shares of Coach (NYSE:COH) traded up 0.94% during midday trading on Wednesday, hitting $39.78. The stock had a trading volume of 3,598,622 shares. The firm has a market cap of $11.16 billion, a PE ratio of 21.83 and a beta of 0.49. Coach has a 12-month low of $34.07 and a 12-month high of $43.71. The firm has a 50-day moving average of $39.47 and a 200 day moving average of $37.32. Coach also was the recipient of some unusual options trading on Monday. Stock traders acquired 6,348 call options on the company. This is an increase of 258% compared to the average daily volume of 1,773 call options.
Coach (NYSE:COH) last released its quarterly earnings results on Tuesday, January 31st. The luxury accessories retailer reported $0.75 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.74 by $0.01. Coach had a return on equity of 21.66% and a net margin of 11.24%. The firm earned $1.32 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same period last year, the firm posted $0.68 EPS. The business’s revenue was up 3.8% on a year-over-year basis. On average, analysts expect that Coach will post $2.15 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, April 3rd. Shareholders of record on Friday, March 10th were issued a dividend of $0.3375 per share. The ex-dividend date was Wednesday, March 8th. This represents a $1.35 annualized dividend and a yield of 3.39%. Coach’s dividend payout ratio is presently 74.18%.
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A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Parkwood LLC acquired a new position in Coach during the third quarter valued at $277,000. Sumitomo Life Insurance Co. raised its position in Coach by 9.2% in the third quarter. Sumitomo Life Insurance Co. now owns 42,799 shares of the luxury accessories retailer’s stock valued at $1,565,000 after buying an additional 3,594 shares in the last quarter. Ausdal Financial Partners Inc. raised its position in Coach by 25.3% in the third quarter. Ausdal Financial Partners Inc. now owns 11,400 shares of the luxury accessories retailer’s stock valued at $417,000 after buying an additional 2,300 shares in the last quarter. Conning Inc. raised its position in Coach by 3.9% in the third quarter. Conning Inc. now owns 6,706 shares of the luxury accessories retailer’s stock valued at $245,000 after buying an additional 250 shares in the last quarter. Finally, Insight 2811 Inc. raised its position in Coach by 15.5% in the third quarter. Insight 2811 Inc. now owns 25,751 shares of the luxury accessories retailer’s stock valued at $941,000 after buying an additional 3,449 shares in the last quarter. Hedge funds and other institutional investors own 87.23% of the company’s stock.
Coach, Inc (Coach) is a design house of luxury accessories and lifestyle collections. The Company’s product offering uses a range of leathers, fabrics and materials. Its segments include North America, International and Stuart Weitzman. The North America segment includes sales of Coach brand products to North American customers through Coach-operated stores (including the Internet) and sales to North American wholesale customers.
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