Buckingham Research Reiterates Buy Rating for Coach, Inc. (COH)
Coach, Inc. (NYSE:COH)‘s stock had its “buy” rating reiterated by equities researchers at Buckingham Research in a report issued on Friday. They presently have a $56.00 target price on the luxury accessories retailer’s stock, down from their prior target price of $58.00. Buckingham Research’s price target suggests a potential upside of 38.68% from the company’s current price.
COH has been the topic of a number of other research reports. BMO Capital Markets set a $42.00 price target on Coach and gave the stock a “hold” rating in a research report on Tuesday, May 2nd. Royal Bank Of Canada reissued an “outperform” rating and set a $50.00 price target (up previously from $45.00) on shares of Coach in a research report on Thursday, June 15th. UBS AG reduced their price target on Coach from $55.00 to $50.00 and set a “buy” rating on the stock in a research report on Thursday. Nomura reissued a “buy” rating and set a $45.00 price target on shares of Coach in a research report on Tuesday, May 9th. Finally, Vetr raised Coach from a “sell” rating to a “hold” rating and set a $45.98 price target on the stock in a research report on Monday. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty-one have assigned a buy rating to the company’s stock. Coach currently has a consensus rating of “Buy” and an average target price of $47.92.
Shares of Coach (COH) traded down 1.51% on Friday, hitting $40.38. The stock had a trading volume of 3,770,007 shares. The stock has a market capitalization of $11.37 billion, a PE ratio of 19.32 and a beta of 0.45. Coach has a one year low of $34.07 and a one year high of $48.85. The firm’s 50 day moving average is $46.81 and its 200-day moving average is $42.95.
Coach (NYSE:COH) last posted its 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 return on equity of 21.31% and a net margin of 13.17%. The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the prior year, the business earned $0.45 earnings per share. The firm’s revenue for the quarter was down 1.8% on a year-over-year basis. Equities research analysts expect that Coach will post $2.39 earnings per share for the current fiscal year.
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In related news, insider Sarah Dunn sold 7,595 shares of the firm’s stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $46.07, for a total transaction of $349,901.65. Following the completion of the transaction, the insider now directly owns 74,627 shares of the company’s stock, valued at approximately $3,438,065.89. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Andre Cohen sold 2,988 shares of the firm’s stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $46.06, for a total value of $137,627.28. Following the transaction, the insider now directly owns 43,198 shares of the company’s stock, 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.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Mckinley Capital Management LLC Delaware acquired a new stake in shares of Coach during the second quarter worth $115,000. Dupont Capital Management Corp acquired a new stake in shares of Coach during the second quarter worth $118,000. Winslow Evans & Crocker Inc. increased its stake in shares of Coach by 18.1% in the second quarter. Winslow Evans & Crocker Inc. now owns 2,616 shares of the luxury accessories retailer’s stock worth $124,000 after buying an additional 400 shares during the last quarter. NINE MASTS CAPITAL Ltd acquired a new stake in shares of Coach during the first quarter worth $153,000. Finally, Seven Eight Capital LP acquired a new stake in shares of Coach during the second quarter worth $188,000. 88.44% of the stock is owned by institutional investors and hedge funds.
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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