Cantor Fitzgerald Downgrades Coach to Hold (COH)
Coach (NYSE:COH) was downgraded by analysts at Cantor Fitzgerald from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday, TheFlyOnTheWall.com reports. They currently have a $50.00 target price on the stock, down from their previous target price of $61.00. Cantor Fitzgerald’s target price indicates a potential upside of 2.44% from the stock’s previous close.
Shares of Coach (NYSE:COH) traded down 1.09% during mid-day trading on Friday, hitting $48.81. The stock had a trading volume of 6,764,612 shares. Coach has a 52-week low of $45.87 and a 52-week high of $60.12. The stock has a 50-day moving average of $55.04 and a 200-day moving average of $54.42. The company has a market cap of $13.689 billion and a P/E ratio of 13.66. Coach also saw some unusual options trading activity on Tuesday. Investors purchased 25,758 call options on the stock. This is an increase of approximately 458% compared to the typical 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 previous year, the company posted $1.23 earnings per share. The company’s revenue for the quarter 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 Deutsche Bank cut their price target on shares of Coach from $61.00 to $58.00 in a research note to investors on Thursday. They now have a “hold” rating on the stock. Separately, analysts at UBS AG cut their price target on shares of Coach to $50.00 in a research note to investors on Thursday. They now have a “neutral” rating on the stock. Finally, analysts at Oppenheimer downgraded shares of Coach from an “outperform” rating to a “neutral” rating in a research note to investors on Thursday. They now have a $50.00 price target on the stock, down previously from $66.00. One analyst has rated the stock with a sell rating, twenty have given a hold rating and twelve have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $56.71.
Coach, Inc (NYSE:COH), is a marketer of fine accessories and gifts for women and men.
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