Coach, Inc. (COH) Earns “Buy” Rating from Canaccord Genuity
Coach, Inc. (NYSE:COH)‘s stock had its “buy” rating reissued by Canaccord Genuity in a research report issued to clients and investors on Wednesday. They currently have a $56.00 target price on the luxury accessories retailer’s stock, down from their prior target price of $59.00. Canaccord Genuity’s price objective points to a potential upside of 37.80% from the company’s current price.
Other equities analysts also recently issued research reports about the company. Vetr downgraded Coach from a “hold” rating to a “sell” rating and set a $45.98 price target for the company. in a research note on Monday, August 7th. Instinet reiterated a “buy” rating and set a $45.00 price target (up previously from $40.00) on shares of Coach in a research note on Wednesday, May 3rd. BMO Capital Markets reiterated a “hold” rating and set a $39.00 price target on shares of Coach in a research note on Tuesday, April 18th. Goldman Sachs Group, Inc. (The) upgraded Coach from a “neutral” rating to a “buy” rating and lifted their price target for the company from $40.00 to $55.00 in a research note on Tuesday, May 9th. Finally, Credit Suisse Group reiterated an “outperform” rating and set a $55.00 price target (up previously from $46.00) on shares of Coach in a research note on Monday, May 15th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-one have given a buy rating to the company. Coach currently has an average rating of “Buy” and an average price target of $47.76.
Coach (NYSE:COH) opened at 40.70 on Wednesday. The firm has a market capitalization of $11.44 billion, a PE ratio of 21.98 and a beta of 0.45. Coach has a 52-week low of $34.07 and a 52-week high of $48.85. The stock’s 50 day moving average price is $47.36 and its 200 day moving average price is $42.95. Coach also saw some unusual options trading on Monday. Stock investors bought 8,123 put options on the stock. This represents an increase of 566% compared to the typical volume of 1,219 put options.
Coach (NYSE:COH) last issued its earnings results on Tuesday, August 15th. The luxury accessories retailer reported $0.50 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.01. The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.15 billion. Coach had a return on equity of 21.36% and a net margin of 11.55%. The firm’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same period last year, the business posted $0.45 EPS. On average, analysts predict that Coach will post $2.15 EPS for the current fiscal year.
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In other Coach news, insider Sarah Dunn sold 7,595 shares of the business’s stock in a transaction on Wednesday, May 24th. The shares were sold at an average price of $46.07, for a total transaction of $349,901.65. Following the sale, the insider now owns 74,627 shares of the company’s stock, valued at approximately $3,438,065.89. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Andre Cohen sold 2,988 shares of the business’s stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $46.06, for a total transaction of $137,627.28. Following the sale, the insider now directly owns 43,198 shares in the company, valued at approximately $1,989,699.88. The disclosure for this sale can be found here. Insiders own 0.81% of the company’s stock.
A number of large investors have recently modified their holdings of COH. Mckinley Capital Management LLC Delaware acquired a new stake in shares of Coach during the second quarter worth about $115,000. Dupont Capital Management Corp acquired a new stake in shares of Coach during the second quarter worth about $118,000. Winslow Evans & Crocker Inc. boosted its stake in shares of Coach by 18.1% in the second quarter. Winslow Evans & Crocker Inc. now owns 2,616 shares of the luxury accessories retailer’s stock worth $124,000 after buying an additional 400 shares during the last quarter. Tompkins Financial Corp acquired a new stake in shares of Coach during the first quarter worth about $120,000. Finally, NINE MASTS CAPITAL Ltd acquired a new stake in shares of Coach during the first quarter worth about $153,000. 88.44% of the stock is currently owned by institutional investors and hedge funds.
Coach Company Profile
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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