Coach’s (COH) “Buy” Rating Reaffirmed at William Blair
Coach, Inc. (NYSE:COH)‘s stock had its “buy” rating reiterated by William Blair in a note issued to investors on Saturday.
Other research analysts have also issued research reports about the company. Deutsche Bank AG raised Coach to a “buy” rating in a research note on Saturday, July 1st. Goldman Sachs Group, Inc. (The) raised Coach to a “buy” rating in a research note on Saturday, July 1st. Jefferies Group LLC set a $42.00 price target on Coach and gave the stock a “hold” rating in a research note on Tuesday, August 15th. Royal Bank Of Canada reduced their price target on Coach from $50.00 to $46.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 16th. Finally, Buckingham Research reissued a “buy” rating and set a $56.00 price target (down previously from $58.00) on shares of Coach in a research note on Friday, August 18th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-one have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $47.17.
Shares of Coach (NYSE COH) opened at 40.35 on Friday. The stock has a market cap of $11.40 billion, a P/E ratio of 19.31 and a beta of 0.44. The firm has a 50-day moving average price of $40.23 and a 200-day moving average price of $43.52. Coach has a 52-week low of $34.16 and a 52-week high of $48.85.
Coach (NYSE:COH) last issued its quarterly earnings results on Tuesday, August 15th. The luxury accessories retailer reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.01. Coach had a return on equity of 21.31% and a net margin of 13.17%. The company had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same quarter in the prior year, the company posted $0.45 EPS. The business’s revenue for the quarter was down 1.8% compared to the same quarter last year. On average, analysts anticipate that Coach will post $2.37 EPS for the current fiscal year.
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In related news, 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 completion of the transaction, the chief accounting officer now directly owns 72,412 shares in the company, valued at $2,958,030.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 value of $340,560.00. Following the completion of the transaction, the senior vice president now owns 42,884 shares of the company’s stock, valued at $1,770,251.52. The disclosure for this sale can be found here. 0.98% of the stock is currently owned by company insiders.
Large investors have recently bought and sold shares of the stock. Mckinley Capital Management LLC Delaware acquired a new position in Coach in the second quarter worth about $115,000. Dupont Capital Management Corp acquired a new position in Coach in the second quarter worth about $118,000. Winslow Evans & Crocker Inc. grew its stake in Coach by 18.1% in the second quarter. Winslow Evans & Crocker Inc. now owns 2,616 shares of the luxury accessories retailer’s stock worth $124,000 after purchasing an additional 400 shares in the last quarter. Seven Eight Capital LP acquired a new position in Coach in the second quarter worth about $188,000. Finally, Harvest Fund Management Co. Ltd acquired a new position in Coach in the second quarter worth about $192,000. Institutional investors and hedge funds own 85.54% 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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