Coach, Inc. (NYSE:COH) has been given a $49.00 price objective by equities research analysts at Robert W. Baird in a note issued to investors on Tuesday. The firm currently has a “buy” rating on the luxury accessories retailer’s stock. Robert W. Baird’s target price points to a potential upside of 24.14% from the company’s current price.
Several other equities research analysts have also recently weighed in on the company. OTR Global raised Coach to a “positive” rating in a research note on Friday, July 21st. Buckingham Research raised Coach from a “neutral” rating to a “buy” rating and upped their price target for the stock from $45.00 to $58.00 in a research note on Monday, June 26th. Sanford C. Bernstein started coverage on Coach in a research note on Tuesday, September 12th. They issued an “outperform” rating and a $51.00 price target on the stock. BMO Capital Markets set a $42.00 price target on Coach and gave the stock a “hold” rating in a research note on Thursday, July 6th. Finally, Jefferies Group LLC set a $53.00 price target on Coach and gave the stock a “buy” rating in a research note on Tuesday, July 4th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-one have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $47.17.
Coach (NYSE COH) traded down 0.61% during mid-day trading on Tuesday, reaching $39.23. 275,383 shares of the company traded hands. Coach has a 12-month low of $34.07 and a 12-month high of $48.85. The company’s 50-day moving average is $40.32 and its 200-day moving average is $43.55. The stock has a market capitalization of $11.09 billion, a price-to-earnings ratio of 18.77 and a beta of 0.44.
Coach (NYSE:COH) last issued its quarterly earnings results on Tuesday, August 15th. The luxury accessories retailer reported $0.50 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.01. The company had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Coach had a return on equity of 21.31% and a net margin of 13.17%. The firm’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.45 earnings per share. Equities analysts predict that Coach will post $2.37 earnings per share for the current fiscal year.
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In other news, SVP Melinda Brown sold 8,250 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $41.28, for a total value of $340,560.00. Following the transaction, the senior vice president now owns 42,884 shares of the company’s stock, valued at $1,770,251.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Todd Kahn sold 4,586 shares of the firm’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $40.85, for a total value of $187,338.10. Following the completion of the transaction, the chief accounting officer now directly owns 72,412 shares in the company, valued at approximately $2,958,030.20. The disclosure for this sale can be found here. 0.98% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of COH. Franklin Resources Inc. raised its stake in shares of Coach by 1,921.6% in the second quarter. Franklin Resources Inc. now owns 1,483,000 shares of the luxury accessories retailer’s stock worth $70,205,000 after buying an additional 1,409,643 shares during the period. Vanguard Group Inc. raised its stake in shares of Coach by 3.3% in the second quarter. Vanguard Group Inc. now owns 28,909,152 shares of the luxury accessories retailer’s stock worth $1,368,559,000 after buying an additional 926,068 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Coach by 294.3% in the second quarter. JPMorgan Chase & Co. now owns 1,216,832 shares of the luxury accessories retailer’s stock worth $57,607,000 after buying an additional 908,228 shares during the period. Columbus Circle Investors bought a new position in shares of Coach in the second quarter worth about $31,413,000. Finally, Scopus Asset Management L.P. raised its stake in shares of Coach by 53.9% in the first quarter. Scopus Asset Management L.P. now owns 1,700,000 shares of the luxury accessories retailer’s stock worth $70,261,000 after buying an additional 595,300 shares during the period. 85.54% 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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