Coach, Inc. (NYSE:COH) was downgraded by investment analysts at Vetr from a “hold” rating to a “sell” rating in a research report issued on Monday, August 7th. They presently have a $45.98 price objective on the luxury accessories retailer’s stock. Vetr‘s price target suggests a potential upside of 13.87% from the stock’s current price.
A number of other equities analysts have also recently issued reports on the company. Jefferies Group LLC cut Coach from a “buy” rating to a “hold” rating and lowered their target price for the stock from $53.00 to $45.00 in a report on Monday, July 31st. OTR Global raised Coach to a “positive” rating in a research note on Friday, July 21st. MKM Partners initiated coverage on Coach in a research note on Monday, July 10th. They issued a “buy” rating and a $50.00 price objective for the company. Deutsche Bank AG raised Coach to a “buy” rating in a research note on Saturday, July 1st. Finally, Goldman Sachs Group, Inc. (The) raised Coach to a “buy” rating in a research report on Saturday, July 1st. One research analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-one have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $47.92.
Shares of Coach (NYSE COH) traded down 1.51% on Monday, hitting $40.38. The company had a trading volume of 3,770,007 shares. Coach has a 12-month low of $34.07 and a 12-month high of $48.85. The company has a market capitalization of $11.37 billion, a P/E ratio of 19.32 and a beta of 0.45. The firm has a 50-day moving average price of $46.81 and a 200 day moving average price of $42.95.
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, beating 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 firm earned $0.45 EPS. Equities analysts expect that Coach will post $2.39 EPS for the current year.
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In other news, insider Andre Cohen sold 2,988 shares of Coach 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 completion of the sale, the insider now directly owns 43,198 shares in the company, valued at $1,989,699.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Sarah Dunn sold 7,595 shares of the firm’s stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $46.07, for a total transaction of $349,901.65. Following the transaction, the insider now directly owns 74,627 shares of the company’s stock, valued at approximately $3,438,065.89. The disclosure for this sale can be found here. 0.81% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its position in Coach by 3,072.2% in the first quarter. BlackRock Inc. now owns 17,674,190 shares of the luxury accessories retailer’s stock worth $730,475,000 after buying an additional 17,117,023 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in Coach by 19.9% in the first quarter. Ameriprise Financial Inc. now owns 9,122,583 shares of the luxury accessories retailer’s stock worth $377,029,000 after buying an additional 1,514,418 shares in the last quarter. Vanguard Group Inc. boosted its stake in Coach by 5.5% in the first quarter. Vanguard Group Inc. now owns 27,983,084 shares of the luxury accessories retailer’s stock worth $1,156,541,000 after buying an additional 1,464,098 shares in the last quarter. Franklin Resources Inc. boosted its stake in Coach by 1,921.6% in the second quarter. Franklin Resources Inc. now owns 1,483,000 shares of the luxury accessories retailer’s stock worth $70,205,000 after buying an additional 1,409,643 shares in the last quarter. Finally, RidgeWorth Capital Management LLC bought a new stake in Coach during the first quarter worth approximately $45,659,000. 88.44% of the stock is owned by 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.
To view Vetr’s full report, visit Vetr’s official website.
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