Coach, Inc. (COH) Given Buy Rating at UBS AG
Coach, Inc. (NYSE:COH)‘s stock had its “buy” rating restated by investment analysts at UBS AG in a note issued to investors on Friday, www.flashratings.com reports. They currently have a $50.00 price target on the luxury accessories retailer’s stock, down from their previous price target of $55.00. UBS AG’s target price points to a potential upside of 23.03% from the company’s current price.
Several other equities analysts have also recently commented on the stock. BMO Capital Markets set a $42.00 target price on shares of Coach and gave the company a “hold” rating in a research note on Tuesday, August 8th. Vetr cut shares of Coach from a “hold” rating to a “sell” rating and set a $45.98 target price for the company. in a research note on Monday, August 7th. Jefferies Group LLC cut shares of Coach from a “buy” rating to a “hold” rating and cut their target price for the company from $53.00 to $45.00 in a research note on Monday, July 31st. OTR Global upgraded shares of Coach to a “positive” rating in a research note on Friday, July 21st. Finally, MKM Partners began coverage on shares of Coach in a research note on Monday, July 10th. They set a “buy” rating and a $50.00 target price for the company. One research analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-one have issued a buy rating to the stock. Coach currently has an average rating of “Buy” and an average price target of $48.08.
Coach (COH) traded up 0.39% during midday trading on Friday, reaching $40.80. 2,598,461 shares of the company traded hands. The firm has a 50 day moving average of $47.36 and a 200-day moving average of $42.95. The stock has a market capitalization of $11.47 billion, a price-to-earnings ratio of 22.03 and a beta of 0.45. Coach has a 12 month low of $34.07 and a 12 month high of $48.85. Coach also was the target of unusually large options trading activity on Monday. Traders purchased 8,123 put options on the stock. This is an increase of 566% compared to the average daily volume of 1,219 put options.
Coach (NYSE:COH) last posted its quarterly earnings data on Tuesday, August 15th. The luxury accessories retailer reported $0.50 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.01. The business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.15 billion. Coach had a net margin of 11.55% and a return on equity of 21.36%. Coach’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.45 EPS. Analysts forecast 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 stock in a transaction dated 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 SEC, which can be accessed through this hyperlink. Also, insider Andre Cohen sold 2,988 shares of the stock in a transaction dated Tuesday, May 23rd. The stock was 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. 0.81% of the stock is owned by corporate insiders.
Large investors have recently modified their holdings of the company. Mckinley Capital Management LLC Delaware bought a new stake in shares of Coach during the second quarter worth approximately $115,000. Dupont Capital Management Corp acquired a new position in shares of Coach during the second quarter valued at about $118,000. Tompkins Financial Corp acquired a new position in shares of Coach during the first quarter valued at about $120,000. Winslow Evans & Crocker Inc. raised its position 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 valued at $124,000 after buying an additional 400 shares during the period. Finally, NINE MASTS CAPITAL Ltd acquired a new position in shares of Coach during the first quarter valued at about $153,000. 88.44% of the stock is currently owned by hedge funds and other institutional investors.
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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