Coach, Inc. (COH) Cut to “Peer Perform” at Wolfe Research
Coach, Inc. (NYSE:COH) was downgraded by Wolfe Research from an “outperform” rating to a “peer perform” rating in a note issued to investors on Tuesday. They presently have a $42.00 price target on the luxury accessories retailer’s stock, down from their previous price target of $51.00. Wolfe Research’s target price suggests a potential upside of 5.45% from the stock’s previous close.
Several other equities analysts also recently weighed in on the company. Vetr downgraded Coach from a “hold” rating to a “sell” rating and set a $45.98 price target for the company. in a research report on Monday, July 24th. Jefferies Group LLC cut Coach from a “buy” rating to a “hold” rating and lowered their price target for the company from $53.00 to $45.00 in a report on Monday, July 31st. OTR Global raised shares of Coach to a “positive” rating in a research report on Friday, July 21st. Oppenheimer Holdings, Inc. set a $55.00 price objective on Coach and gave the stock a “buy” rating in a report on Tuesday, August 15th. Finally, BMO Capital Markets set a $42.00 price target on Coach and gave the stock a “hold” rating in a research note on Tuesday, August 8th. One 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. The stock presently has an average rating of “Buy” and a consensus price target of $47.56.
Coach (NYSE:COH) traded down 0.05% during trading on Tuesday, reaching $39.81. 1,022,759 shares of the company’s stock were exchanged. The stock has a market capitalization of $11.25 billion, a PE ratio of 19.05 and a beta of 0.44. The stock has a 50-day moving average of $40.81 and a 200-day moving average of $43.61. Coach has a 52 week low of $34.07 and a 52 week high of $48.85.
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, topping the Zacks’ consensus estimate of $0.49 by $0.01. The firm had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.15 billion. Coach had a return on equity of 21.31% and a net margin of 13.17%. Coach’s quarterly revenue was down 1.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.45 earnings per share. On average, equities research analysts anticipate that Coach will post $2.38 EPS for the current year.
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In other Coach news, CAO Todd Kahn sold 4,586 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $40.85, for a total value of $187,338.10. Following the transaction, the chief accounting officer now directly owns 72,412 shares of the company’s stock, valued at approximately $2,958,030.20. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 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 value of $340,560.00. Following the sale, the senior vice president now directly owns 42,884 shares of the company’s stock, valued at $1,770,251.52. The disclosure for this sale can be found here. 0.81% of the stock is currently owned by company insiders.
Institutional investors have recently made changes to their positions in the company. Airain ltd bought a new stake in shares of Coach in the 2nd quarter valued at approximately $1,036,000. JPMorgan Chase & Co. increased its holdings in shares of Coach by 294.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,216,832 shares of the luxury accessories retailer’s stock valued at $57,607,000 after acquiring an additional 908,228 shares during the last quarter. Neuberger Berman Group LLC increased its holdings in shares of Coach by 128.0% during the 2nd quarter. Neuberger Berman Group LLC now owns 206,741 shares of the luxury accessories retailer’s stock valued at $9,787,000 after acquiring an additional 116,072 shares during the last quarter. Capital Analysts LLC acquired a new position in shares of Coach during the 2nd quarter valued at about $1,062,000. Finally, Bedrijfstakpensioenfonds Voor DE Media PNO acquired a new position in shares of Coach during the 2nd quarter valued at about $1,386,000. Institutional investors and hedge funds own 86.32% of the company’s stock.
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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