Coach Inc (COH) Given a $55.00 Price Target at Oppenheimer Holdings, Inc.
Coach Inc (NYSE:COH) has been assigned a $55.00 price target by research analysts at Oppenheimer Holdings, Inc. in a note issued to investors on Tuesday. The brokerage currently has a “buy” rating on the luxury accessories retailer’s stock. Oppenheimer Holdings, Inc.’s price target points to a potential upside of 14.77% from the company’s current price.
A number of other analysts have also recently weighed in on COH. UBS AG reaffirmed a “buy” rating and issued a $47.00 price objective on shares of Coach in a report on Wednesday, April 26th. BMO Capital Markets set a $42.00 price objective on shares of Coach and gave the stock a “hold” rating in a report on Tuesday, August 8th. Goldman Sachs Group, Inc. (The) raised shares of Coach to a “buy” rating in a report on Saturday, July 1st. Piper Jaffray Companies set a $47.00 price objective on shares of Coach and gave the stock a “buy” rating in a report on Wednesday, May 17th. Finally, Vetr cut shares of Coach from a “hold” rating to a “sell” rating and set a $45.98 price objective on the stock. in a report on Monday, August 7th. One analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-one have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $48.48.
Shares of Coach (COH) traded down 13.950% during mid-day trading on Tuesday, hitting $41.235. 18,572,932 shares of the stock traded hands. The stock has a market cap of $11.59 billion, a P/E ratio of 22.265 and a beta of 0.45. The firm’s 50 day moving average price is $47.55 and its 200-day moving average price is $42.92. Coach has a 12-month low of $34.07 and a 12-month high of $48.85. Coach also was the target of unusually large options trading activity on Monday. Stock traders acquired 8,123 put options on the company. This is an increase of approximately 566% compared to the typical daily volume of 1,219 put options.
Coach (NYSE:COH) last released its quarterly earnings data on Tuesday, August 15th. The luxury accessories retailer reported $0.50 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.01. Coach had a net margin of 12.28% and a return on equity of 17.19%. The business had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter last year, the company earned $0.45 EPS. The company’s revenue for the quarter was down 1.8% compared to the same quarter last year. Analysts predict that Coach will post $2.15 earnings per share for the current year.
In other Coach news, insider Sarah Dunn sold 7,595 shares of the firm’s stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $46.07, for a total value of $349,901.65. Following the completion of the transaction, the insider now directly owns 74,627 shares in the company, valued at $3,438,065.89. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Andre Cohen sold 2,988 shares of the firm’s stock in a transaction dated 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 owns 43,198 shares of the company’s stock, valued at $1,989,699.88. The disclosure for this sale can be found here. Company insiders own 0.81% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Nomura Holdings Inc. purchased a new position in shares of Coach during the second quarter valued at approximately $1,344,000. AmericaFirst Quantitative Trust AmericaFirst Defensive Growth & Income Portfolio Series 2 bought a new stake in Coach during the second quarter worth about $526,000. Raymond James Financial Services Advisors Inc. raised its stake in Coach by 14.6% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 22,283 shares of the luxury accessories retailer’s stock worth $1,055,000 after buying an additional 2,845 shares during the period. Tower Research Capital LLC TRC raised its stake in Coach by 2,531.5% in the second quarter. Tower Research Capital LLC TRC now owns 8,605 shares of the luxury accessories retailer’s stock worth $407,000 after buying an additional 8,278 shares during the period. Finally, Cubist Systematic Strategies LLC bought a new stake in Coach during the second quarter worth about $3,244,000. Institutional investors own 88.44% of the company’s stock.
Coach Company Profile
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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