Coach, Inc. (COH) Coverage Initiated by Analysts at Barclays PLC
Analysts at Barclays PLC assumed coverage on shares of Coach, Inc. (NYSE:COH) in a research note issued on Tuesday, The Fly reports. The firm set an “equal weight” rating on the luxury accessories retailer’s stock.
Several other equities analysts have also weighed in on COH. UBS AG restated a “buy” rating and issued a $55.00 price objective (up from $49.00) on shares of Coach in a report on Thursday, May 25th. Piper Jaffray Companies increased their target price on shares of Coach from $47.00 to $52.00 and gave the stock an “overweight” rating in a report on Tuesday, May 30th. BidaskClub upgraded shares of Coach from a “sell” rating to a “hold” rating in a report on Friday, June 9th. Vetr upgraded shares of Coach from a “sell” rating to a “hold” rating and set a $46.00 target price on the stock in a report on Tuesday, June 13th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $50.00 target price (up from $45.00) on shares of Coach in a report on Thursday, June 15th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-three have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $48.03.
Coach (COH) traded down 0.30% during trading on Tuesday, reaching $40.35. 3,242,499 shares of the company’s stock traded hands. Coach has a 12 month low of $34.07 and a 12 month high of $48.85. The firm’s 50 day moving average is $42.92 and its 200 day moving average is $43.54. The company has a market cap of $11.40 billion, a P/E ratio of 19.31 and a beta of 0.44.
Coach (NYSE:COH) last announced its quarterly earnings data on Tuesday, August 15th. The luxury accessories retailer reported $0.50 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.01. Coach had a net margin of 13.17% and a return on equity of 21.31%. The business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same period in the prior year, the business posted $0.45 earnings per share. Coach’s revenue was down 1.8% compared to the same quarter last year. Analysts anticipate that Coach will post $2.38 EPS for the current year.
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In other news, CAO Todd Kahn sold 4,586 shares of the firm’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $40.85, for a total transaction of $187,338.10. Following the completion of the sale, the chief accounting officer now owns 72,412 shares in the company, valued at approximately $2,958,030.20. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Melinda Brown sold 8,250 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $41.28, for a total transaction of $340,560.00. Following the sale, the senior vice president now owns 42,884 shares of the company’s stock, valued at approximately $1,770,251.52. The disclosure for this sale can be found here. Company insiders own 0.81% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Coach by 3.3% during the 2nd quarter. Vanguard Group Inc. now owns 28,909,152 shares of the luxury accessories retailer’s stock worth $1,368,559,000 after buying an additional 926,068 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Coach by 0.5% during the 2nd quarter. BlackRock Inc. now owns 17,761,037 shares of the luxury accessories retailer’s stock worth $840,807,000 after buying an additional 86,847 shares during the last quarter. State Street Corp lifted its stake in shares of Coach by 1.7% during the 1st quarter. State Street Corp now owns 12,130,432 shares of the luxury accessories retailer’s stock worth $501,354,000 after buying an additional 198,818 shares during the last quarter. Jennison Associates LLC lifted its stake in shares of Coach by 13.6% during the 2nd quarter. Jennison Associates LLC now owns 4,637,031 shares of the luxury accessories retailer’s stock worth $219,517,000 after buying an additional 553,533 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Coach by 9.3% during the 1st quarter. Geode Capital Management LLC now owns 2,760,281 shares of the luxury accessories retailer’s stock worth $113,917,000 after buying an additional 235,168 shares during the last quarter. Institutional investors own 86.32% 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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