Coach Rating Lowered to Neutral at Macquarie (COH)
Coach (NYSE:COH) was downgraded by equities research analysts at Macquarie from an “outperform” rating to a “neutral” rating in a research note issued to investors on Thursday, TheFlyOnTheWall.com reports. They currently have a $50.00 price objective on the stock, down from their previous price objective of $66.00. Macquarie’s price objective suggests a potential upside of 1.26% from the company’s current price.
Shares of Coach (NYSE:COH) opened at 49.38 on Thursday. Coach has a 1-year low of $45.87 and a 1-year high of $60.12. The stock has a 50-day moving average of $55.25 and a 200-day moving average of $54.46. The company has a market cap of $13.849 billion and a P/E ratio of 13.67. Coach also was the recipient of unusually large options trading on Tuesday. Stock traders bought 25,758 call options on the stock. This is an increase of 458% compared to the average daily volume of 4,615 call options.
Coach (NYSE:COH) last released its earnings data on Wednesday, January 22nd. The company reported $1.06 EPS for the quarter, missing the Thomson Reuters consensus estimate of $1.12 by $0.06. The company had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter in the prior year, the company posted $1.23 earnings per share. The company’s quarterly revenue was down 5.6% on a year-over-year basis. Analysts expect that Coach will post $3.47 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Canaccord Genuity cut their price target on shares of Coach from $55.00 to $47.00 in a research note to investors on Wednesday. They now have a “hold” rating on the stock. Separately, analysts at Zacks reiterated an “underperform” rating on shares of Coach in a research note to investors on Tuesday, January 7th. They now have a $50.00 price target on the stock. Finally, analysts at Citigroup Inc. reiterated a “buy” rating on shares of Coach in a research note to investors on Tuesday, November 26th. They now have a $63.00 price target on the stock, up previously from $58.00. Two analysts have rated the stock with a sell rating, twenty have assigned a hold rating and eleven have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $57.10.
Coach, Inc (NYSE:COH), is a marketer of fine accessories and gifts for women and men.
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