Coach Rating Increased to Neutral at Zacks (COH)
Coach (NYSE:COH) was upgraded by Zacks from an “underperform” rating to a “neutral” rating in a report released on Wednesday. The firm currently has a $39.00 price objective on the stock. Zacks‘s price target points to a potential upside of 6.12% from the company’s current price.
Shares of Coach (NYSE:COH) traded down 0.65% during mid-day trading on Wednesday, hitting $36.51. The stock had a trading volume of 1,592,584 shares. Coach has a one year low of $33.39 and a one year high of $57.95. The stock has a 50-day moving average of $35.5 and a 200-day moving average of $41.80. The company has a market cap of $10.027 billion and a price-to-earnings ratio of 13.17. Coach also was the target of a significant decline in short interest in August. As of August 15th, there was short interest totalling 26,192,713 shares, a decline of 13.1% from the July 31st total of 30,130,581 shares. Based on an average trading volume of 6,360,005 shares, the short-interest ratio is presently 4.1 days. Currently, 9.6% of the company’s stock are short sold.
Coach (NYSE:COH) last posted its quarterly 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 $1.89 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, September 29th. Investors 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 3.67%. The ex-dividend date of this dividend is Friday, September 5th.
Several other analysts have also recently commented on the stock. Analysts at Piper Jaffray reiterated an “overweight” rating on shares of Coach in a research note on Wednesday, August 13th. They now have a $29.00 price target on the stock, down previously from $32.00. Separately, analysts at Citigroup Inc. reiterated a “neutral” rating on shares of Coach in a research note on Wednesday, August 6th. They now have a $38.00 price target on the stock, up previously from $36.00. Finally, analysts at Macquarie reiterated a “neutral” rating on shares of Coach in a research note on Wednesday, August 6th. They now have a $36.00 price target on the stock, down previously from $38.00. Five equities research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and six have issued a buy rating to the company. Coach currently has an average rating of “Hold” and an average price target of $39.28.
Coach, Inc (NYSE:COH) is a marketer of accessories and gifts for women and men.
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