Coach Trading Down 4% on Analyst Downgrade (COH)
Coach (NYSE:COH) fell 4% on Wednesday after Barclays lowered their price target on the stock from $48.00 to $45.00, AnalystRatingsNetwork reports. Barclays currently has an equal weight rating on the stock. Coach traded as low as $39.13 and last traded at $39.18, with a volume of 5,140,868 shares trading hands. The stock had previously closed at $40.81.
Other equities research analysts have also recently issued reports about the stock. Analysts at Nomura reiterated a “buy” rating on shares of Coach in a research note on Thursday, June 12th. They now have a $50.00 price target on the stock, down previously from $52.00. Separately, analysts at Sterne Agee downgraded shares of Coach from a “buy” rating to a “neutral” rating in a research note on Wednesday, June 4th. They now have a $41.00 price target on the stock, down previously from $51.00. Finally, analysts at Renaissance Capital upgraded shares of Coach from a “hold” rating to a “buy” rating in a research note on Monday, June 2nd. They now have a $54.00 price target on the stock. One investment analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and six have given a buy rating to the stock. Coach presently has a consensus rating of “Hold” and a consensus price target of $50.48.
The stock’s 50-day moving average is $41.39 and its 200-day moving average is $48.53. The company has a market cap of $10.745 billion and a P/E ratio of 12.45. Coach also was the target of some unusual options trading on Tuesday. Investors bought 17,506 call options on the stock. This is an increase of approximately 238% compared to the average volume of 5,177 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 $3.05 earnings per share for the current fiscal year.
Coach, Inc (NYSE:COH) is a marketer of accessories and gifts for women and men.
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