Morgan Stanley Boosts Coach, Inc. (COH) Price Target to $35.00
Coach, Inc. (NYSE:COH) had its price objective increased by analysts at Morgan Stanley from $34.00 to $35.00 in a research report issued on Wednesday. The brokerage currently has an “underweight” rating on the luxury accessories retailer’s stock. Morgan Stanley’s price target indicates a potential downside of 14.05% from the stock’s previous close.
Other equities analysts also recently issued research reports about the stock. UBS AG restated a “buy” rating and set a $47.00 price objective on shares of Coach in a research report on Wednesday, April 26th. Credit Suisse Group set a $55.00 price objective on shares of Coach and gave the stock a “buy” rating in a research report on Tuesday, May 9th. Deutsche Bank AG upgraded shares of Coach to a “buy” rating in a research report on Saturday, July 1st. Goldman Sachs Group, Inc. (The) upgraded shares of Coach to a “buy” rating in a research report on Saturday, July 1st. Finally, Royal Bank Of Canada cut their price objective on shares of Coach from $50.00 to $46.00 and set an “outperform” rating for the company in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-one have issued a buy rating to the stock. Coach has a consensus rating of “Buy” and an average target price of $47.92.
Coach (NYSE:COH) traded up 0.20% during mid-day trading on Wednesday, reaching $40.72. 7,655,119 shares of the company traded hands. The stock’s 50 day moving average price is $47.36 and its 200 day moving average price is $42.95. The firm has a market capitalization of $11.45 billion, a price-to-earnings ratio of 21.99 and a beta of 0.45. Coach has a 52 week low of $34.07 and a 52 week high of $48.85. Coach also was the recipient of some unusual options trading activity on Monday. Stock traders bought 8,123 put options on the stock. This represents an increase of approximately 566% compared to the average daily volume of 1,219 put options.
Coach (NYSE:COH) last released its quarterly earnings results on Tuesday, August 15th. The luxury accessories retailer reported $0.50 EPS for the quarter, beating the consensus estimate of $0.49 by $0.01. Coach had a net margin of 11.55% and a return on equity of 21.36%. The firm had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the prior year, the firm earned $0.45 EPS. Coach’s revenue for the quarter was down 1.8% on a year-over-year basis. Equities analysts forecast that Coach will post $2.15 EPS for the current year.
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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 transaction of $349,901.65. Following the sale, the insider now directly owns 74,627 shares of the company’s stock, valued at approximately $3,438,065.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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 sale, the insider now directly owns 43,198 shares in the company, valued at $1,989,699.88. The disclosure for this sale can be found here. 0.81% of the stock is owned by company insiders.
Several large investors have recently added to or reduced their stakes in the company. Ibex Wealth Advisors purchased a new stake in Coach during the fourth quarter valued at about $102,000. Trust Co. of Vermont boosted its stake in Coach by 2.1% in the third quarter. Trust Co. of Vermont now owns 3,102 shares of the luxury accessories retailer’s stock valued at $113,000 after buying an additional 65 shares in the last quarter. Mckinley Capital Management LLC Delaware purchased a new stake in Coach during the second quarter valued at about $115,000. Dupont Capital Management Corp purchased a new stake in Coach during the second quarter valued at about $118,000. Finally, Tompkins Financial Corp bought a new position in shares of Coach during the first quarter valued at $120,000. 88.44% 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.
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