Coach Inc (COH) Downgraded by OTR Global to “Positive”
Coach Inc (NYSE:COH) was downgraded by OTR Global to a “positive” rating in a research report issued on Thursday.
COH has been the subject of several other reports. Piper Jaffray Cos. reissued an “overweight” rating and issued a $46.00 price objective on shares of Coach in a research report on Tuesday, August 30th. Jefferies Group reissued a “buy” rating on shares of Coach in a research report on Friday, September 2nd. Credit Agricole SA assumed coverage on Coach in a research report on Wednesday, September 28th. They issued a “buy” rating and a $45.00 price objective for the company. Cowen and Company reaffirmed an “outperform” rating on shares of Coach in a research report on Tuesday, August 23rd. Finally, TheStreet lowered Coach from a “buy” rating to a “hold” rating in a research report on Friday, June 24th. Two research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and twenty-two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $42.13.
Shares of Coach (NYSE:COH) traded down 2.00% on Thursday, hitting $35.80. The company had a trading volume of 1,738,497 shares. The firm has a market capitalization of $9.99 billion, a P/E ratio of 21.70 and a beta of 0.90. Coach has a 12-month low of $28.70 and a 12-month high of $43.71. The firm has a 50 day moving average of $36.97 and a 200-day moving average of $39.35.
Coach (NYSE:COH) last posted its quarterly earnings data on Tuesday, August 9th. The luxury accessories retailer reported $0.45 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.04. Coach had a return on equity of 21.32% and a net margin of 10.25%. The firm earned $1.15 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same period last year, the company posted $0.31 EPS. The business’s quarterly revenue was up 15.0% on a year-over-year basis. On average, equities analysts predict that Coach will post $2.16 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Monday, September 12th were paid a dividend of $0.3375 per share. This represents a $1.35 dividend on an annualized basis and a dividend yield of 3.70%. The ex-dividend date of this dividend was Thursday, September 8th. Coach’s dividend payout ratio is 81.82%.
Several institutional investors have recently made changes to their positions in COH. Tower Research Capital LLC TRC increased its position in shares of 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 acquired a new position in shares of Coach during the second quarter worth $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 worth $153,000 after buying an additional 2,146 shares in the last quarter. M&R Capital Management Inc. acquired a new position in shares of Coach during the second quarter worth $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 worth $166,000 after buying an additional 2,927 shares in the last quarter. 89.29% of the stock is 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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