Coach, Inc. (NYSE:COH) had its price objective cut by Royal Bank Of Canada from $50.00 to $46.00 in a research report issued on Wednesday. The brokerage presently has an “outperform” rating on the luxury accessories retailer’s stock. Royal Bank Of Canada’s price target points to a potential upside of 13.19% from the stock’s previous close.
A number of other equities research analysts have also weighed in on COH. BMO Capital Markets reaffirmed a “hold” rating and issued a $39.00 price objective on shares of Coach in a report on Tuesday, April 18th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $53.00 price objective on shares of Coach in a report on Wednesday, April 19th. Deutsche Bank AG lowered their price objective on Coach from $43.00 to $39.00 and set a “hold” rating on the stock in a report on Tuesday, April 25th. UBS AG reaffirmed a “buy” rating and issued a $47.00 price objective on shares of Coach in a report on Wednesday, April 26th. Finally, Robert W. Baird reaffirmed an “outperform” rating and issued a $47.00 price objective on shares of Coach in a report on Wednesday, April 26th. One investment 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 currently has a consensus rating of “Buy” and a consensus target price of $48.32.
Coach (COH) opened at 40.64 on Wednesday. The firm’s 50-day moving average price is $47.36 and its 200-day moving average price is $42.95. Coach has a 12 month low of $34.07 and a 12 month high of $48.85. The stock has a market cap of $11.43 billion, a P/E ratio of 21.94 and a beta of 0.45. Coach also saw some unusual options trading on Monday. Investors acquired 8,123 put options on the company. This is an increase of approximately 566% compared to the typical daily volume of 1,219 put options.
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, beating the Zacks’ consensus estimate of $0.49 by $0.01. Coach had a return on equity of 21.36% and a net margin of 11.55%. 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 previous year, the company earned $0.45 EPS. The firm’s revenue for the quarter was down 1.8% compared to the same quarter last year. On average, analysts predict that Coach will post $2.15 earnings per share for the current year.
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In other Coach news, insider Andre Cohen sold 2,988 shares of the business’s stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $46.06, for a total value of $137,627.28. Following the completion of the transaction, the insider now directly owns 43,198 shares in the company, valued at approximately $1,989,699.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Sarah Dunn sold 7,595 shares of the business’s stock in a transaction on Wednesday, May 24th. The shares were sold at an average price of $46.07, for a total value of $349,901.65. Following the completion of the transaction, the insider now owns 74,627 shares of the company’s stock, valued at $3,438,065.89. The disclosure for this sale can be found here. Insiders own 0.81% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. increased its stake 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 buying an additional 17,117,023 shares during the last quarter. Ameriprise Financial Inc. increased its stake in Coach by 19.9% in the first quarter. Ameriprise Financial Inc. now owns 9,122,583 shares of the luxury accessories retailer’s stock worth $377,029,000 after buying an additional 1,514,418 shares during the last quarter. Vanguard Group Inc. increased its stake in Coach by 5.5% in the first quarter. Vanguard Group Inc. now owns 27,983,084 shares of the luxury accessories retailer’s stock worth $1,156,541,000 after buying an additional 1,464,098 shares during the last quarter. Franklin Resources Inc. increased its stake in Coach by 1,921.6% in the second quarter. Franklin Resources Inc. now owns 1,483,000 shares of the luxury accessories retailer’s stock worth $70,205,000 after buying an additional 1,409,643 shares during the last quarter. Finally, RidgeWorth Capital Management LLC purchased a new stake in Coach during the first quarter worth approximately $45,659,000. Institutional investors own 88.44% 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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