Buckingham Research Reiterates “$48.00” Price Target for Coach, Inc. (COH)
Coach, Inc. (NYSE:COH) has been assigned a $48.00 price target by analysts at Buckingham Research in a note issued to investors on Friday. The firm presently has a “buy” rating on the luxury accessories retailer’s stock. Buckingham Research’s price objective would indicate a potential upside of 20.57% from the stock’s current price.
Several other analysts have also recently weighed in on the company. OTR Global raised Coach to a “positive” rating in a report on Friday, July 21st. Sanford C. Bernstein started coverage on Coach in a report on Tuesday, September 12th. They set an “outperform” rating and a $51.00 price objective for the company. BMO Capital Markets set a $42.00 price objective on Coach and gave the stock a “hold” rating in a report on Thursday, July 6th. Jefferies Group LLC set a $53.00 price objective on Coach and gave the stock a “buy” rating in a report on Tuesday, July 4th. Finally, Canaccord Genuity started coverage on Coach in a report on Friday, June 30th. They set a “buy” rating and a $59.00 price objective for the company. One analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $47.06.
Shares of Coach (COH) traded down 0.43% during trading on Friday, hitting $39.64. 1,501,790 shares of the stock traded hands. Coach has a 1-year low of $34.07 and a 1-year high of $48.85. The company has a 50 day moving average of $40.75 and a 200-day moving average of $43.55. The company has a market cap of $11.20 billion, a PE ratio of 18.97 and a beta of 0.44.
Coach (NYSE:COH) last announced its quarterly earnings data on Tuesday, August 15th. The luxury accessories retailer reported $0.50 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.01. The firm had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Coach had a return on equity of 21.31% and a net margin of 13.17%. The company’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.45 EPS. On average, equities analysts anticipate that Coach will post $2.38 EPS for the current fiscal year.
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In other Coach news, CAO Todd Kahn sold 4,586 shares of the company’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $40.85, for a total transaction of $187,338.10. Following the completion of the transaction, the chief accounting officer now owns 72,412 shares of the company’s stock, valued at approximately $2,958,030.20. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Melinda Brown sold 8,250 shares of the company’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $41.28, for a total value of $340,560.00. Following the transaction, the senior vice president now directly owns 42,884 shares of the company’s stock, valued at approximately $1,770,251.52. The disclosure for this sale can be found here. Corporate insiders own 0.81% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in COH. UBS Asset Management Americas Inc. boosted its holdings in shares of Coach by 90.7% in the 1st quarter. UBS Asset Management Americas Inc. now owns 1,331,344 shares of the luxury accessories retailer’s stock valued at $55,024,000 after buying an additional 633,309 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in shares of Coach by 3.2% in the 1st quarter. Pacer Advisors Inc. now owns 5,677 shares of the luxury accessories retailer’s stock valued at $235,000 after buying an additional 176 shares during the last quarter. Clinton Group Inc. acquired a new stake in shares of Coach in the 1st quarter valued at approximately $279,000. Victory Capital Management Inc. boosted its holdings in shares of Coach by 32.6% in the 1st quarter. Victory Capital Management Inc. now owns 207,763 shares of the luxury accessories retailer’s stock valued at $8,587,000 after buying an additional 51,035 shares during the last quarter. Finally, Blair William & Co. IL boosted its holdings in shares of Coach by 0.9% in the 1st quarter. Blair William & Co. IL now owns 8,483 shares of the luxury accessories retailer’s stock valued at $331,000 after buying an additional 75 shares during the last quarter. 86.32% of the stock is owned by institutional investors.
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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