Coach, Inc. (COH) Stock Rating Upgraded by OTR Global
Coach, Inc. (NYSE:COH) was upgraded by equities research analysts at OTR Global to a “positive” rating in a report released on Friday, The Fly reports.
A number of other analysts have also commented on the company. MKM Partners assumed coverage on Coach in a report on Monday, July 10th. They set a “buy” rating and a $50.00 price objective for the company. BMO Capital Markets set a $42.00 price objective on Coach and gave the stock a “hold” rating in a report on Thursday, July 6th. Jefferies Group LLC set a $53.00 price objective on Coach and gave the stock a “buy” rating in a report on Tuesday, July 4th. Oppenheimer Holdings, Inc. reissued a “buy” rating on shares of Coach in a report on Tuesday, July 4th. Finally, Goldman Sachs Group, Inc. (The) raised Coach to a “buy” rating in a report on Saturday, July 1st. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and twenty-four have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $48.44.
Shares of Coach (NYSE:COH) traded up 1.37% on Friday, reaching $48.74. The company had a trading volume of 2,220,323 shares. The stock has a market cap of $13.70 billion, a PE ratio of 26.32 and a beta of 0.45. The stock has a 50-day moving average price of $46.90 and a 200-day moving average price of $41.42. Coach has a 12 month low of $34.07 and a 12 month high of $48.85.
Coach (NYSE:COH) last issued its quarterly earnings data on Tuesday, May 2nd. The luxury accessories retailer reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.02. The firm had revenue of $995.20 million during the quarter, compared to analyst estimates of $1.02 billion. Coach had a return on equity of 21.36% and a net margin of 11.55%. The company’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.44 EPS. Analysts predict that Coach will post $2.15 earnings per share for the current fiscal year.
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In other news, insider Sarah Dunn sold 7,595 shares of the company’s stock in a transaction on Wednesday, May 24th. The shares were sold at an average price of $46.07, for a total value of $349,901.65. Following the transaction, the insider now owns 74,627 shares of the company’s stock, valued at $3,438,065.89. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Andre Cohen sold 2,988 shares of the company’s stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $46.06, for a total transaction of $137,627.28. Following the completion of the transaction, the insider now directly owns 43,198 shares in the company, valued at approximately $1,989,699.88. The disclosure for this sale can be found here. In the last ninety days, insiders sold 44,359 shares of company stock worth $2,023,928. Insiders own 0.81% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ibex Wealth Advisors purchased a new position in Coach during the fourth quarter valued at $102,000. Tompkins Financial Corp purchased a new position in Coach during the first quarter valued at $120,000. Winslow Evans & Crocker Inc. boosted its position in Coach by 18.1% in the second quarter. Winslow Evans & Crocker Inc. now owns 2,616 shares of the luxury accessories retailer’s stock valued at $124,000 after buying an additional 400 shares during the last quarter. NINE MASTS CAPITAL Ltd purchased a new position in Coach during the first quarter valued at $153,000. Finally, NEXT Financial Group Inc boosted its position in Coach by 5.0% in the second quarter. NEXT Financial Group Inc now owns 4,214 shares of the luxury accessories retailer’s stock valued at $199,000 after buying an additional 200 shares during the last quarter. 88.15% of the stock is currently owned by hedge funds and other 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.
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