Coach, Inc. (COH) Downgraded to Neutral at Consumer Edge
Coach, Inc. (NYSE:COH) was downgraded by analysts at Consumer Edge from an “outperform” rating to a “neutral” rating in a research note issued to investors on Wednesday, The Fly reports.
Several other equities analysts also recently weighed in on the company. OTR Global raised Coach to a “positive” rating in a research report on Friday, July 21st. Buckingham Research raised 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 started coverage on Coach in a research report on Tuesday, September 12th. They set an “outperform” rating and a $51.00 price target for the company. BMO Capital Markets set a $42.00 price target on 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 Coach and gave the stock a “buy” rating in a research report on Tuesday, July 4th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and twenty have issued a buy rating to the stock. Coach currently has an average rating of “Buy” and an average price target of $47.06.
Coach (COH) opened at 40.00 on Wednesday. The firm’s 50-day moving average price is $40.68 and its 200-day moving average price is $43.64. Coach has a 1-year low of $34.07 and a 1-year high of $48.85. The firm has a market cap of $11.30 billion, a price-to-earnings ratio of 19.14 and a beta of 0.44.
Coach (NYSE:COH) last released its quarterly earnings results on Tuesday, August 15th. The luxury accessories retailer reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.01. The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.15 billion. Coach had a return on equity of 21.31% and a net margin of 13.17%. Coach’s revenue was down 1.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.45 earnings per share. On average, equities research analysts anticipate that Coach will post $2.37 earnings per share for the current year.
In other news, SVP Melinda Brown sold 8,250 shares of Coach 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 directly owns 42,884 shares of the company’s stock, valued at $1,770,251.52. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Todd Kahn sold 4,586 shares of Coach 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 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. 0.98% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Sentry Investment Management LLC increased its position in shares of Coach by 1.1% during the second quarter. Sentry Investment Management LLC now owns 13,382 shares of the luxury accessories retailer’s stock worth $634,000 after acquiring an additional 142 shares during the last quarter. Toronto Dominion Bank increased its position in shares of Coach by 25.8% during the second quarter. Toronto Dominion Bank now owns 95,230 shares of the luxury accessories retailer’s stock worth $4,507,000 after acquiring an additional 19,508 shares during the last quarter. Archford Capital Strategies LLC increased its position in shares of Coach by 3,720.0% during the second quarter. Archford Capital Strategies LLC now owns 1,910 shares of the luxury accessories retailer’s stock worth $217,000 after acquiring an additional 1,860 shares during the last quarter. Cetera Investment Advisers purchased a new stake in shares of Coach during the second quarter worth about $257,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Coach during the second quarter worth about $1,534,000. 85.85% 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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