Coach, Inc. (COH) Stock Rating Reaffirmed by Wolfe Research
Coach, Inc. (NYSE:COH)‘s stock had its “peer perform” rating reissued by equities research analysts at Wolfe Research in a note issued to investors on Tuesday. They currently have a $40.67 target price on the luxury accessories retailer’s stock, down from their previous target price of $51.00. Wolfe Research’s target price would indicate a potential upside of 2.39% from the company’s current price.
COH has been the subject of a number of other reports. OTR Global raised shares of Coach to a “positive” rating in a research note on Friday, July 21st. Oppenheimer Holdings, Inc. reissued a “buy” rating on shares of Coach in a research report on Tuesday, July 4th. Cowen and Company reissued a “buy” rating and issued a $46.00 price objective on shares of Coach in a research report on Thursday, September 28th. Buckingham Research raised shares of Coach from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $45.00 to $58.00 in a research report on Monday, June 26th. Finally, BMO Capital Markets set a $42.00 price objective on shares of Coach and gave the company a “hold” rating in a research report on Thursday, July 6th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-one have given a buy rating to the company. Coach has an average rating of “Buy” and an average target price of $47.56.
Coach (COH) opened at 39.72 on Tuesday. The company has a market capitalization of $11.22 billion, a P/E ratio of 19.00 and a beta of 0.44. The company has a 50-day moving average of $40.78 and a 200-day moving average of $43.58. Coach has a 1-year low of $34.07 and a 1-year high of $48.85.
Coach (NYSE:COH) last released its quarterly earnings results on Tuesday, August 15th. The luxury accessories retailer reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.01. Coach had a net margin of 13.17% and a return on equity of 21.31%. The firm had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same period in the previous year, the company earned $0.45 EPS. The firm’s revenue for the quarter was down 1.8% compared to the same quarter last year. Equities analysts expect that Coach will post $2.38 EPS for the current fiscal year.
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In other news, SVP Melinda Brown sold 8,250 shares of the stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $41.28, for a total value of $340,560.00. Following the sale, the senior vice president now owns 42,884 shares in the company, valued at $1,770,251.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Todd Kahn sold 4,586 shares of the stock in a transaction 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 sale, the chief accounting officer now owns 72,412 shares in the company, valued at approximately $2,958,030.20. The disclosure for this sale can be found here. Corporate insiders own 0.81% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. Stratos Wealth Partners LTD. increased its stake in shares of Coach by 0.3% in the second quarter. Stratos Wealth Partners LTD. now owns 10,175 shares of the luxury accessories retailer’s stock worth $482,000 after acquiring an additional 32 shares during the period. Cleararc Capital Inc. increased its stake in shares of Coach by 0.5% in the first quarter. Cleararc Capital Inc. now owns 6,847 shares of the luxury accessories retailer’s stock worth $283,000 after acquiring an additional 34 shares during the period. Cambridge Investment Research Advisors Inc. increased its stake in shares of Coach by 0.4% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 10,909 shares of the luxury accessories retailer’s stock worth $451,000 after acquiring an additional 47 shares during the period. LS Investment Advisors LLC increased its stake in shares of Coach by 0.5% in the second quarter. LS Investment Advisors LLC now owns 10,290 shares of the luxury accessories retailer’s stock worth $487,000 after acquiring an additional 53 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of Coach by 0.3% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 20,886 shares of the luxury accessories retailer’s stock worth $989,000 after acquiring an additional 70 shares during the period. Hedge funds and other institutional investors own 86.32% of the company’s stock.
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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