Coach Given Neutral Rating at Macquarie (COH)
Coach (NYSE:COH)‘s stock had its “neutral” rating restated by stock analysts at Macquarie in a report issued on Wednesday. They currently have a $36.00 price objective on the stock, down from their previous price objective of $38.00. Macquarie’s price objective points to a potential upside of 2.56% from the stock’s previous close.
Coach (NYSE:COH) traded down 1.96% on Wednesday, hitting $35.10. The stock had a trading volume of 6,313,255 shares. Coach has a 52 week low of $33.39 and a 52 week high of $57.95. The stock has a 50-day moving average of $34.82 and a 200-day moving average of $43.39. The company has a market cap of $9.623 billion and a P/E ratio of 10.92. Coach also was the recipient of unusually large options trading activity on Monday. Investors purchased 9,422 call options on the company. This is an increase of 128% compared to the average volume of 4,125 call options.
Coach (NYSE:COH) last announced its earnings results on Tuesday, August 5th. The company reported $0.59 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.53 by $0.06. The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter last year, the company posted $0.89 earnings per share. Coach’s revenue was down 6.7% compared to the same quarter last year. On average, analysts predict that Coach will post $1.91 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, September 29th. Stockholders of record on Tuesday, September 9th will be given a dividend of $0.3375 per share. This represents a $1.35 dividend on an annualized basis and a yield of 3.85%.
COH has been the subject of a number of other recent research reports. Analysts at Topeka Capital Markets raised their price target on shares of Coach from $34.00 to $35.00 in a research note on Tuesday. They now have a “hold” rating on the stock. Separately, analysts at Canaccord Genuity raised their price target on shares of Coach from $35.00 to $37.00 in a research note on Tuesday. They now have a “hold” rating on the stock. Finally, analysts at Buckingham Research downgraded shares of Coach from a “neutral” rating to an “underperform” rating in a research note on Wednesday, July 9th. They now have a $28.00 price target on the stock, down previously from $32.00. Six investment analysts have rated the stock with a sell rating, twenty have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $39.71.
Coach, Inc (NYSE:COH) is a marketer of accessories and gifts for women and men.
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