Coach Hits New 52-Week Low After Analyst Downgrade (COH)
Coach (NYSE:COH) reached a new 52-week low during trading on Wednesday after UBS AG downgraded the stock from a buy rating to a hold rating, Stock Ratings Network.com reports. UBS AG now has a $45.00 price target on the stock, down from their previous price target of $49.00. Coach traded as low as $43.90 and last traded at $44.73, with a volume of 10,002,168 shares changing hands. The stock had previously closed at $45.71.
A number of other analysts have also recently weighed in on COH. Analysts at Zacks reiterated an “underperform” rating on shares of Coach in a research note on Wednesday. They now have a $41.00 price target on the stock. Separately, analysts at Citigroup Inc. downgraded shares of Coach from a “buy” rating to a “neutral” rating in a research note on Wednesday. They now have a $50.00 price target on the stock. Finally, analysts at Renaissance Capital downgraded shares of Coach from a “buy” rating to a “hold” rating in a research note on Wednesday. They now have a $54.00 price target on the stock, down previously from $59.00. One investment analyst has rated the stock with a sell rating, eighteen have given a hold rating and nine have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $54.68.
The stock has a 50-day moving average of $49.40 and a 200-day moving average of $51.41. The company has a market cap of $12.438 billion and a price-to-earnings ratio of 13.33. Coach also was the recipient of some unusual options trading activity on Monday. Traders purchased 25,246 call options on the stock. This represents an increase of 775% compared to the average daily volume of 2,884 call options.
Coach (NYSE:COH) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.07. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the previous year, the company posted $0.84 earnings per share. The company’s revenue for the quarter was down 7.4% on a year-over-year basis. On average, analysts predict that Coach will post $3.12 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, June 30th. Stockholders of record on Friday, June 6th will be paid a dividend of $0.3375 per share. This represents a $1.35 annualized dividend and a dividend yield of 2.95%. The ex-dividend date is Wednesday, June 4th.
Coach, Inc (NYSE:COH) is a marketer of accessories and gifts for women and men.
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