Credit Agricole SA Begins Coverage on Coach Inc. (COH)
Credit Agricole SA began coverage on shares of Coach Inc. (NYSE:COH) in a research report issued to clients and investors on Wednesday. The firm set a “buy” rating and a $45.00 price target on the luxury accessories retailer’s stock. Credit Agricole SA’s price objective would suggest a potential upside of 25.35% from the company’s current price.
A number of other research analysts have also recently commented on the stock. Morgan Stanley cut shares of Coach from an “equal weight” rating to an “underweight” rating and set a $32.00 target price on the stock. in a research report on Wednesday, September 14th. Robert W. Baird raised shares of Coach from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $45.00 to $50.00 in a research report on Monday, July 18th. Cowen and Company reissued an “outperform” rating on shares of Coach in a research report on Tuesday, August 23rd. Piper Jaffray Cos. reissued an “overweight” rating and set a $46.00 target price on shares of Coach in a research report on Thursday, September 8th. Finally, Deutsche Bank AG reissued a “hold” rating and set a $43.00 target price on shares of Coach in a research report on Wednesday, August 10th. Two analysts have rated the stock with a sell rating, nineteen have issued a hold rating and twenty-one have issued a buy rating to the stock. Coach has a consensus rating of “Hold” and a consensus target price of $41.90.
Shares of Coach (NYSE:COH) traded up 0.70% on Wednesday, reaching $35.90. 2,627,416 shares of the company’s stock traded hands. Coach has a 52 week low of $27.93 and a 52 week high of $43.71. The company has a 50 day moving average of $38.02 and a 200-day moving average of $39.56. The stock has a market capitalization of $10.01 billion, a PE ratio of 21.76 and a beta of 0.90.
Coach (NYSE:COH) last posted its earnings results on Tuesday, August 9th. The luxury accessories retailer reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.04. Coach had a net margin of 10.25% and a return on equity of 21.32%. The business had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same period in the previous year, the company posted $0.31 earnings per share. The business’s revenue for the quarter was up 15.0% compared to the same quarter last year. Equities research analysts forecast that Coach will post $2.16 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Monday, September 12th will be issued a $0.3375 dividend. The ex-dividend date is Thursday, September 8th. This represents a $1.35 dividend on an annualized basis and a yield of 3.76%. Coach’s dividend payout ratio is currently 81.82%.
Institutional investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC increased its position in Coach by 1,307.1% in the second quarter. Tower Research Capital LLC TRC now owns 3,166 shares of the luxury accessories retailer’s stock worth $129,000 after buying an additional 2,941 shares in the last quarter. Americafirst Capital Management LLC bought a new position in shares of Coach during the second quarter valued at approximately $140,000. Mizuho Asset Management Co. Ltd. increased its position in shares of Coach by 132.7% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 3,763 shares of the luxury accessories retailer’s stock valued at $153,000 after buying an additional 2,146 shares during the period. M&R Capital Management Inc. bought a new position in shares of Coach during the second quarter valued at approximately $154,000. Finally, Global X Management Co. LLC increased its position in shares of Coach by 255.6% in the second quarter. Global X Management Co. LLC now owns 4,072 shares of the luxury accessories retailer’s stock valued at $166,000 after buying an additional 2,927 shares during the period. Hedge funds and other institutional investors own 89.72% of the company’s stock.
Coach, Inc (Coach) is a design house of modern luxury accessories and lifestyle collections. The Company operates through three segments: North America, which includes sales to North American consumers through Coach-branded stores (including the Internet) and sales to wholesale customers; International segment, which includes sales to consumers through Coach-branded stores (including the Internet) and concession shop-in-shops in Japan and mainland China, Coach-operated stores and concession shop-in-shops in Hong Kong, Macau, Singapore, Taiwan, Malaysia, South Korea, the United Kingdom, France, Ireland, Spain, Portugal, Germany, Italy, Belgium and the Netherlands, as well as sales to wholesale customers and distributors in approximately 45 countries, and Other segment, which consists of sales and expenses generated by the Coach brand in other ancillary channels, including licensing and disposition.
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