Guggenheim Begins Coverage on Coach Inc. (COH)
Guggenheim began coverage on shares of Coach Inc. (NYSE:COH) in a research report sent to investors on Friday. The brokerage issued a buy rating and a $50.00 target price on the luxury accessories retailer’s stock.
A number of other research analysts also recently weighed in on the company. 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 target on the stock. Piper Jaffray Cos. set a $46.00 price target on Coach and gave the stock a buy rating in a research report on Monday, September 19th. Morgan Stanley downgraded Coach from an equal weight rating to an underweight rating and set a $32.00 price target on the stock. in a research report on Wednesday, September 14th. Jefferies Group reaffirmed a buy rating on shares of Coach in a research report on Friday, September 2nd. Finally, BlueFin Research reaffirmed an outperform rating and issued a $45.00 price target on shares of Coach in a research report on Monday, August 29th. Two research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and twenty-two have assigned a buy rating to the company. The company currently has a consensus rating of Hold and an average target price of $42.13.
Shares of Coach (NYSE:COH) opened at 36.77 on Friday. Coach has a 12 month low of $28.70 and a 12 month high of $43.71. The firm has a market capitalization of $10.26 billion, a price-to-earnings ratio of 22.28 and a beta of 0.90. The firm has a 50-day moving average price of $37.53 and a 200 day moving average price of $39.46.
Coach (NYSE:COH) last issued its quarterly earnings data on Tuesday, August 9th. The luxury accessories retailer reported $0.45 earnings per share for the quarter, beating the Zacks’ 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 business had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same period last year, the business earned $0.31 EPS. The firm’s revenue was up 15.0% compared to the same quarter last year. On average, analysts anticipate that Coach will post $2.16 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Monday, September 12th were paid a dividend of $0.3375 per share. The ex-dividend date of this dividend was Thursday, September 8th. This represents a $1.35 dividend on an annualized basis and a dividend yield of 3.67%. Coach’s dividend payout ratio (DPR) is currently 81.82%.
Institutional investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC raised 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 during the period. Americafirst Capital Management LLC purchased a new position in shares of Coach during the second quarter worth $140,000. Mizuho Asset Management Co. Ltd. raised 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 during the period. M&R Capital Management Inc. purchased a new position in shares of Coach during the second quarter worth $154,000. Finally, Global X Management Co. LLC raised 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 during the period. Institutional investors own 89.72% of the company’s stock.
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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