Guggenheim Begins Coverage on Coach Inc. (COH)
Equities research analysts at Guggenheim started coverage on shares of Coach Inc. (NYSE:COH) in a research report issued to clients and investors on Friday. The brokerage set a “buy” rating on the luxury accessories retailer’s stock.
Several other equities analysts have also recently weighed in on COH. Jefferies Group restated a “buy” rating and set a $51.00 price target on shares of Coach in a report on Thursday, June 2nd. Piper Jaffray Cos. reiterated a “buy” rating and issued a $47.00 target price on shares of Coach in a report on Wednesday, June 8th. Mizuho reiterated a “neutral” rating and issued a $40.00 target price on shares of Coach in a report on Thursday, June 9th. TheStreet cut Coach from a “buy” rating to a “hold” rating in a report on Friday, June 24th. Finally, Zacks Investment Research upgraded Coach from a “hold” rating to a “buy” rating and set a $43.00 target price for the company in a report on Wednesday, June 29th. Two equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and twenty-two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $41.90.
Shares of Coach (NYSE:COH) opened at 36.21 on Friday. The stock has a market capitalization of $10.10 billion, a PE ratio of 21.95 and a beta of 0.90. 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 price of $37.79 and a 200 day moving average price of $39.51.
Coach (NYSE:COH) last released its quarterly earnings results on Tuesday, August 9th. The luxury accessories retailer reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.04. The business earned $1.15 billion during the quarter, compared to analysts’ expectations of $1.17 billion. Coach had a return on equity of 21.32% and a net margin of 10.25%. The firm’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.31 EPS. Equities analysts forecast that Coach will post $2.16 EPS for the current fiscal year.
The firm also recently declared 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 3.73%. Coach’s payout ratio is 81.82%.
A number of institutional investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC boosted 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 during the last quarter. Americafirst Capital Management LLC acquired a new position in Coach during the second quarter worth $140,000. Mizuho Asset Management Co. Ltd. boosted its position in 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 worth $153,000 after buying an additional 2,146 shares during the last quarter. M&R Capital Management Inc. acquired a new position in Coach during the second quarter worth $154,000. Finally, Global X Management Co. LLC boosted its position in 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 worth $166,000 after buying an additional 2,927 shares during the last quarter. 89.72% of the stock is owned by institutional investors.
Coach Company Profile
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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