Coach Inc. (COH) Downgraded to “Buy” at Vetr Inc.
Vetr cut shares of Coach Inc. (NYSE:COH) from a strong-buy rating to a buy rating in a research note issued to investors on Tuesday. The firm currently has $42.82 target price on the luxury accessories retailer’s stock.
Several other analysts have also issued reports on COH. Stifel Nicolaus restated a hold rating and issued a $38.00 price target on shares of Coach in a research report on Tuesday, November 1st. Argus restated a hold rating on shares of Coach in a research report on Saturday, August 13th. Oppenheimer Holdings Inc. set a $50.00 price target on shares of Coach and gave the stock a buy rating in a research report on Friday, October 21st. Telsey Advisory Group upgraded shares of Coach from a market perform rating to an outperform rating and set a $49.00 price target on the stock in a research report on Friday, August 5th. Finally, BMO Capital Markets restated a hold rating and issued a $31.00 price target on shares of Coach in a research report on Thursday, July 28th. Two investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and twenty-one have assigned a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $42.13.
Coach (NYSE:COH) opened at 38.385 on Tuesday. The firm has a 50-day moving average of $36.41 and a 200 day moving average of $38.57. The company has a market cap of $10.76 billion, a PE ratio of 22.317 and a beta of 0.58. Coach has a 52-week low of $29.66 and a 52-week high of $43.71.
Coach (NYSE:COH) last posted its quarterly earnings results on Tuesday, November 1st. The luxury accessories retailer reported $0.45 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.45. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.07 billion. Coach had a net margin of 10.70% and a return on equity of 21.30%. The business’s quarterly revenue was up .7% on a year-over-year basis. During the same period last year, the business posted $0.41 EPS. Equities research analysts expect that Coach will post $2.14 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 3rd. Investors of record on Friday, December 9th will be issued a $0.3375 dividend. The ex-dividend date of this dividend is Wednesday, December 7th. This represents a $1.35 dividend on an annualized basis and a yield of 3.51%. Coach’s dividend payout ratio (DPR) is presently 78.49%.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Capstone Asset Management Co. increased its stake in Coach by 3.9% in the second quarter. Capstone Asset Management Co. now owns 20,186 shares of the luxury accessories retailer’s stock worth $822,000 after buying an additional 758 shares in the last quarter. NN Investment Partners Holdings N.V. increased its stake in Coach by 29.3% in the second quarter. NN Investment Partners Holdings N.V. now owns 208,948 shares of the luxury accessories retailer’s stock worth $8,513,000 after buying an additional 47,405 shares in the last quarter. Atria Investments LLC purchased a new stake in Coach during the second quarter worth $620,000. Franklin Street Advisors Inc. NC increased its stake in Coach by 19.7% in the second quarter. Franklin Street Advisors Inc. NC now owns 111,755 shares of the luxury accessories retailer’s stock worth $4,553,000 after buying an additional 18,400 shares in the last quarter. Finally, Chevy Chase Trust Holdings Inc. increased its stake in Coach by 1.4% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 238,588 shares of the luxury accessories retailer’s stock worth $9,720,000 after buying an additional 3,196 shares in the last quarter. Institutional investors and hedge funds own 89.85% of the company’s stock.
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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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