Coach Inc (COH) Upgraded by Vetr Inc. to Buy
Coach Inc (NYSE:COH) was upgraded by equities research analysts at Vetr from a “hold” rating to a “buy” rating in a research note issued to investors on Monday. The brokerage currently has a $41.20 price objective on the luxury accessories retailer’s stock. Vetr‘s price target suggests a potential upside of 5.24% from the stock’s previous close.
A number of other analysts have also recently weighed in on the stock. Zacks Investment Research cut shares of Coach from a “hold” rating to a “sell” rating in a research note on Thursday, January 5th. Piper Jaffray Companies reiterated a “buy” rating and set a $44.00 price target on shares of Coach in a research note on Monday, December 12th. Deutsche Bank AG reiterated a “hold” rating and set a $43.00 price target on shares of Coach in a research note on Tuesday, January 31st. Wedbush increased their price target on shares of Coach from $36.00 to $38.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 1st. Finally, Royal Bank of Canada decreased their price target on shares of Coach from $46.00 to $42.00 and set an “outperform” rating for the company in a research note on Wednesday, February 1st. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twenty-one have given a buy rating to the stock. Coach currently has a consensus rating of “Buy” and a consensus price target of $43.07.
Shares of Coach (NYSE:COH) traded down 1.48% on Monday, hitting $39.15. 2,103,117 shares of the company traded hands. Coach has a 12 month low of $34.07 and a 12 month high of $43.71. The stock’s 50-day moving average price is $38.07 and its 200-day moving average price is $36.81. The company has a market capitalization of $10.99 billion, a PE ratio of 21.49 and a beta of 0.49.
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Coach (NYSE:COH) last issued its quarterly earnings results on Tuesday, January 31st. The luxury accessories retailer reported $0.75 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.01. The firm earned $1.32 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Coach had a net margin of 11.24% and a return on equity of 21.66%. Coach’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.68 EPS. On average, equities analysts predict that Coach will post $2.14 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 3rd. Investors of record on Friday, March 10th will be paid a $0.3375 dividend. The ex-dividend date is Wednesday, March 8th. This represents a $1.35 dividend on an annualized basis and a yield of 3.45%. Coach’s payout ratio is 74.18%.
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In related news, Director Annabelle Yu Long sold 2,310 shares of the stock in a transaction dated Tuesday, January 10th. The shares were sold at an average price of $35.12, for a total value of $81,127.20. Following the sale, the director now directly owns 2,020 shares of the company’s stock, valued at approximately $70,942.40. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.81% of the stock is currently owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in COH. Sumitomo Life Insurance Co. boosted its stake in Coach by 9.2% in the third quarter. Sumitomo Life Insurance Co. now owns 42,799 shares of the luxury accessories retailer’s stock valued at $1,565,000 after buying an additional 3,594 shares in the last quarter. Jennison Associates boosted its stake in Coach by 22.8% in the third quarter. Jennison Associates now owns 2,250,359 shares of the luxury accessories retailer’s stock valued at $65,103,000 after buying an additional 418,461 shares in the last quarter. Franklin Street Advisors boosted its stake in Coach by 14.8% in the fourth quarter. Franklin Street Advisors now owns 70,639 shares of the luxury accessories retailer’s stock valued at $2,312,000 after buying an additional 9,104 shares in the last quarter. Northern Trust Corp boosted its stake in Coach by 0.4% in the third quarter. Northern Trust Corp now owns 3,251,779 shares of the luxury accessories retailer’s stock valued at $118,885,000 after buying an additional 13,858 shares in the last quarter. Finally, Nisa Investment Advisors boosted its stake in Coach by 145.1% in the fourth quarter. Nisa Investment Advisors now owns 89,024 shares of the luxury accessories retailer’s stock valued at $2,914,000 after buying an additional 52,700 shares in the last quarter. 87.23% of the stock is currently owned by institutional investors.
Coach, Inc (Coach) is a design house of luxury accessories and lifestyle collections. The Company’s product offering uses a range of leathers, fabrics and materials. Its segments include North America, International and Stuart Weitzman. The North America segment includes sales of Coach brand products to North American customers through Coach-operated stores (including the Internet) and sales to North American wholesale customers.
To view Vetr’s full report, visit Vetr’s official website.
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