Coach, Inc. (COH) Rating Reiterated by Wolfe Research
Coach, Inc. (NYSE:COH)‘s stock had its “peer perform” rating reiterated by analysts at Wolfe Research in a report issued on Tuesday. They currently have a $40.67 target price on the luxury accessories retailer’s stock. Wolfe Research’s target price points to a potential upside of 2.11% from the stock’s current price.
Several other analysts also recently commented on the stock. OTR Global raised shares of Coach to a “positive” rating in a report on Friday, July 21st. Buckingham Research raised shares of Coach from a “neutral” rating to a “buy” rating and raised their target price for the company from $45.00 to $58.00 in a research note on Monday, June 26th. Sanford C. Bernstein assumed coverage on shares of Coach in a report on Tuesday, September 12th. They issued an “outperform” rating and a $51.00 price target on the stock. BMO Capital Markets set a $42.00 price target on shares of Coach and gave the company a “hold” rating in a report on Thursday, July 6th. Finally, Jefferies Group LLC set a $53.00 price target on shares of Coach and gave the stock a “buy” rating in a research note on Tuesday, July 4th. 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 company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $47.56.
Coach (NYSE COH) traded down 2.07% on Tuesday, hitting $39.83. 4,438,008 shares of the stock were exchanged. The company has a 50-day moving average of $41.04 and a 200 day moving average of $43.61. The firm has a market cap of $11.26 billion, a P/E ratio of 19.06 and a beta of 0.44. Coach has a 12 month low of $34.07 and a 12 month high of $48.85.
Coach (NYSE:COH) last posted its quarterly earnings data on Tuesday, August 15th. The luxury accessories retailer reported $0.50 EPS for the quarter, topping 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 firm had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter last year, the company earned $0.45 earnings per share. The business’s revenue for the quarter was down 1.8% compared to the same quarter last year. Equities research analysts expect that Coach will post $2.38 earnings per share for the current fiscal year.
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In other Coach news, SVP Melinda Brown sold 8,250 shares of the firm’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $41.28, for a total value of $340,560.00. Following the completion of the sale, the senior vice president now directly owns 42,884 shares in the company, valued at $1,770,251.52. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Todd Kahn sold 4,586 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at $2,958,030.20. The disclosure for this sale can be found here. 0.81% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. boosted its holdings in Coach by 3,072.2% in the first quarter. BlackRock Inc. now owns 17,674,190 shares of the luxury accessories retailer’s stock worth $730,475,000 after acquiring an additional 17,117,023 shares in the last quarter. Dodge & Cox purchased a new stake in shares of Coach during the fourth quarter worth about $532,034,000. Ameriprise Financial Inc. grew its stake in shares of Coach by 2,439.8% during the fourth quarter. Ameriprise Financial Inc. now owns 6,724,011 shares of the luxury accessories retailer’s stock worth $220,061,000 after acquiring an additional 6,459,263 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Coach by 41.2% during the third quarter. Price T Rowe Associates Inc. MD now owns 19,168,573 shares of the luxury accessories retailer’s stock worth $700,803,000 after acquiring an additional 5,590,193 shares during the last quarter. Finally, Balyasny Asset Management LLC acquired a new position in shares of Coach during the fourth quarter valued at about $98,452,000. 86.32% of the stock is currently 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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