Coach Lowered to “Neutral” at Atlantic Securities (COH)
Coach (NYSE:COH) was downgraded by analysts at Atlantic Securities from an “overweight” rating to a “neutral” rating in a research report issued to clients and investors on Thursday, TheFlyOnTheWall.com reports. They currently have a $55.00 target price on the stock, down from their previous target price of $68.00. Atlantic Securities’ price objective would suggest a potential upside of 12.04% from the stock’s previous close.
Coach (NYSE:COH) traded up 1.11% during mid-day trading on Thursday, hitting $49.09. The stock had a trading volume of 6,641,922 shares. Coach has a 52 week low of $45.87 and a 52 week high of $62.26. The stock has a 50-day moving average of $53.42 and a 200-day moving average of $54.65. The company has a market cap of $13.840 billion and a P/E ratio of 13.45. Coach also saw some unusual options trading activity on Monday. Investors bought 23,805 call options on the company. This is an increase of approximately 757% compared to the average daily volume of 2,779 call options.
Coach (NYSE:COH) last released its earnings data on Tuesday, October 22nd. The company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.01. The company had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the previous year, the company posted $0.77 earnings per share. The company’s revenue for the quarter was down .9% on a year-over-year basis. On average, analysts predict that Coach will post $3.69 earnings per share for the current fiscal year.
In other Coach news, CEO Lew Frankfort purchased 21,000 shares of Coach stock on the open market in a transaction that occurred on Thursday, October 24th. The shares were purchased at an average price of $48.38 per share, with a total value of $1,015,980.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link.
A number of other firms have also recently commented on COH. Analysts at Wedbush cut their price target on shares of Coach from $58.00 to $54.00 in a research note to investors on Wednesday. They now have a “neutral” rating on the stock. Separately, analysts at Renaissance Capital cut their price target on shares of Coach from $66.00 to $60.00 in a research note to investors on Wednesday. They now have a “buy” rating on the stock. Finally, analysts at KeyCorp cut their price target on shares of Coach from $67.00 to $61.00 in a research note to investors on Wednesday. They now have a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, twenty have given a hold rating and sixteen have given a buy rating to the stock. Coach presently has a consensus rating of “Hold” and a consensus price target of $59.46.
Coach, Inc (NYSE:COH), is a marketer of fine accessories and gifts for women and men.
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