Coach, Inc. (COH) Lowered to Buy at Vetr Inc.

Coach, Inc. (NYSE:COH) was downgraded by equities research analysts at Vetr from a “strong-buy” rating to a “buy” rating in a report issued on Wednesday. They presently have a $45.90 target price on the luxury accessories retailer’s stock. Vetr‘s target price would indicate a potential upside of 11.19% from the company’s current price.

A number of other equities analysts have also commented on COH. UBS AG reaffirmed a “buy” rating and issued a $55.00 price target (up from $49.00) on shares of Coach in a report on Thursday, May 25th. BMO Capital Markets set a $42.00 price target on Coach and gave the stock a “hold” rating in a report on Tuesday, August 8th. Goldman Sachs Group, Inc. (The) raised Coach to a “buy” rating in a report on Saturday, July 1st. Piper Jaffray Companies reissued an “overweight” rating and set a $48.00 price objective (down previously from $52.00) on shares of Coach in a research note on Wednesday, August 16th. Finally, Canaccord Genuity reissued a “buy” rating and set a $56.00 price objective (down previously from $59.00) on shares of Coach in a research note on Wednesday, August 16th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $48.03.

Coach (NYSE COH) opened at 41.28 on Wednesday. The firm has a market capitalization of $11.67 billion, a PE ratio of 19.75 and a beta of 0.44. The firm has a 50-day moving average price of $44.10 and a 200 day moving average price of $43.41. Coach has a one year low of $34.07 and a one year high of $48.85.

Coach (NYSE:COH) last posted its quarterly earnings results on Tuesday, August 15th. The luxury accessories retailer reported $0.50 EPS for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.01. Coach had a return on equity of 21.31% and a net margin of 13.17%. The firm had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same period last year, the company earned $0.45 earnings per share. The business’s revenue for the quarter was down 1.8% on a year-over-year basis. Analysts anticipate that Coach will post $2.38 EPS for the current fiscal year.

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In related news, CAO Todd Kahn sold 4,586 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $40.85, for a total transaction of $187,338.10. Following the transaction, the chief accounting officer now owns 72,412 shares in the company, valued at approximately $2,958,030.20. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.81% of the stock is owned by insiders.

A number of large investors have recently made changes to their positions in the stock. Stratos Wealth Partners LTD. increased its holdings in Coach by 0.3% during the 2nd quarter. Stratos Wealth Partners LTD. now owns 10,175 shares of the luxury accessories retailer’s stock valued at $482,000 after purchasing an additional 32 shares during the period. Cleararc Capital Inc. increased its holdings in Coach by 0.5% during the 1st quarter. Cleararc Capital Inc. now owns 6,847 shares of the luxury accessories retailer’s stock valued at $283,000 after purchasing an additional 34 shares during the period. Cambridge Investment Research Advisors Inc. increased its holdings in Coach by 0.4% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 10,909 shares of the luxury accessories retailer’s stock valued at $451,000 after purchasing an additional 47 shares during the period. LS Investment Advisors LLC increased its holdings in Coach by 0.5% during the 2nd quarter. LS Investment Advisors LLC now owns 10,290 shares of the luxury accessories retailer’s stock valued at $487,000 after purchasing an additional 53 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in Coach by 0.3% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 20,886 shares of the luxury accessories retailer’s stock valued at $989,000 after purchasing an additional 70 shares during the period. Institutional investors own 86.35% of the company’s stock.

About Coach

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.

Analyst Recommendations for Coach (NYSE:COH)

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