Coach Inc. (COH) Stock Rating Reaffirmed by Morgan Stanley
Coach Inc. (NYSE:COH)‘s stock had its “underweight” rating reiterated by equities research analysts at Morgan Stanley in a research report issued on Tuesday.
A number of other brokerages have also issued reports on COH. Telsey Advisory Group upgraded shares of Coach from a “market perform” rating to an “outperform” rating and set a $49.00 target price on the stock in a research report on Friday, August 5th. BlueFin Research restated an “outperform” rating and set a $45.00 target price on shares of Coach in a research report on Monday, August 29th. Piper Jaffray Cos. restated an “overweight” rating and set a $46.00 target price on shares of Coach in a research report on Tuesday, August 30th. Jefferies Group reiterated a “buy” rating and issued a $53.00 price objective on shares of Coach in a research report on Wednesday, August 3rd. Finally, Deutsche Bank AG reiterated a “hold” rating and issued a $43.00 price objective on shares of Coach in a research report on Wednesday, August 10th. Two research analysts have rated the stock with a sell rating, eighteen have issued a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Coach presently has a consensus rating of “Hold” and a consensus target price of $42.13.
Coach (NYSE:COH) opened at 36.39 on Tuesday. The firm has a market capitalization of $10.20 billion, a PE ratio of 21.16 and a beta of 0.58. The firm’s 50-day moving average is $36.56 and its 200-day moving average is $38.54. Coach has a 52-week low of $29.66 and a 52-week high of $43.71.
Coach (NYSE:COH) last announced its earnings results on Tuesday, November 1st. The luxury accessories retailer reported $0.45 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.45. The business 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 company’s revenue for the quarter was up .7% compared to the same quarter last year. During the same period last year, the firm posted $0.41 earnings per share. On average, analysts anticipate that Coach will post $2.14 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 3rd. Investors of record on Friday, December 9th will be given a dividend of $0.3375 per share. This represents a $1.35 annualized dividend and a yield of 3.71%. The ex-dividend date is Wednesday, December 7th. Coach’s dividend payout ratio (DPR) is presently 78.49%.
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A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Coach by 3.2% in the second quarter. Vanguard Group Inc. now owns 24,943,401 shares of the luxury accessories retailer’s stock valued at $1,016,194,000 after buying an additional 778,882 shares during the period. Price T Rowe Associates Inc. MD raised its position in Coach by 41.2% in the third quarter. Price T Rowe Associates Inc. MD now owns 19,168,573 shares of the luxury accessories retailer’s stock valued at $700,803,000 after buying an additional 5,590,193 shares during the period. FMR LLC raised its position in Coach by 6.9% in the second quarter. FMR LLC now owns 14,358,797 shares of the luxury accessories retailer’s stock valued at $584,978,000 after buying an additional 927,743 shares during the period. American International Group Inc. raised its position in Coach by 4.7% in the third quarter. American International Group Inc. now owns 12,843,137 shares of the luxury accessories retailer’s stock valued at $469,545,000 after buying an additional 581,951 shares during the period. Finally, Ameriprise Financial Inc. raised its position in Coach by 30.8% in the third quarter. Ameriprise Financial Inc. now owns 7,989,708 shares of the luxury accessories retailer’s stock valued at $292,112,000 after buying an additional 1,882,572 shares during the period. 88.02% of the stock is currently owned by hedge funds and other institutional investors.
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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