Piper Jaffray Companies Lowers Coach, Inc. (COH) to Neutral
Coach, Inc. (NYSE:COH) was downgraded by Piper Jaffray Companies from an “overweight” rating to a “neutral” rating in a report issued on Thursday, Marketbeat Ratings reports. They currently have a $43.00 price target on the luxury accessories retailer’s stock, down from their prior price target of $48.00. Piper Jaffray Companies’ target price indicates a potential upside of 8.01% from the company’s current price.
COH has been the topic of several other reports. OTR Global upgraded shares of Coach to a “positive” rating in a research report on Friday, July 21st. Buckingham Research upgraded shares of Coach from a “neutral” rating to a “buy” rating and raised their price target for the stock from $45.00 to $58.00 in a research report on Monday, June 26th. Sanford C. Bernstein initiated coverage on shares of Coach in a research 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 stock a “hold” rating in a research 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 report on Tuesday, July 4th. One analyst has rated the stock with a sell rating, eight have given a hold rating and twenty have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $47.37.
Shares of Coach (NYSE:COH) traded up 0.23% during trading on Thursday, reaching $39.81. 5,091,647 shares of the company’s stock were exchanged. The company has a 50 day moving average of $40.75 and a 200 day moving average of $43.55. Coach has a 52-week low of $34.07 and a 52-week high of $48.85. The firm has a market capitalization of $11.25 billion, a P/E ratio of 19.05 and a beta of 0.44.
Coach (NYSE:COH) last posted its earnings results on Tuesday, August 15th. The luxury accessories retailer reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 last year, the business posted $0.45 EPS. Coach’s revenue was down 1.8% compared to the same quarter last year. Equities analysts anticipate 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 company’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $41.28, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Todd Kahn sold 4,586 shares of the company’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $40.85, for a total transaction of $187,338.10. Following the sale, the chief accounting officer now directly owns 72,412 shares in the company, valued at $2,958,030.20. The disclosure for this sale can be found here. Corporate insiders own 0.81% of the company’s stock.
Large investors have recently added to or reduced their stakes in the business. Airain ltd acquired a new position in shares of Coach in the second quarter valued at $1,036,000. JPMorgan Chase & Co. increased its holdings in shares of Coach by 294.3% in the second quarter. JPMorgan Chase & Co. now owns 1,216,832 shares of the luxury accessories retailer’s stock valued at $57,607,000 after purchasing an additional 908,228 shares during the last quarter. Neuberger Berman Group LLC increased its holdings in shares of Coach by 128.0% in the second quarter. Neuberger Berman Group LLC now owns 206,741 shares of the luxury accessories retailer’s stock valued at $9,787,000 after purchasing an additional 116,072 shares during the last quarter. Capital Analysts LLC acquired a new position in shares of Coach in the second quarter valued at $1,062,000. Finally, Bedrijfstakpensioenfonds Voor DE Media PNO acquired a new position in shares of Coach in the second quarter valued at $1,386,000. Hedge funds and other institutional investors 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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