Buckingham Research Analysts Give Coach, Inc. (NYSE:COH) a $48.00 Price Target

Buckingham Research set a $48.00 price objective on Coach, Inc. (NYSE:COH) in a research note released on Friday, October 6th. The firm currently has a buy rating on the luxury accessories retailer’s stock.

Several other research analysts have also recently weighed in on COH. Piper Jaffray Companies cut Coach from an overweight rating to a neutral rating and reduced their price objective for the stock from $48.00 to $43.00 in a research report on Thursday, October 5th. Wolfe Research reaffirmed a peer perform rating and set a $40.67 price objective (down from $51.00) on shares of Coach in a research report on Tuesday, October 3rd. Robert W. Baird set a $52.00 price target on Coach and gave the company a buy rating in a research report on Sunday, October 1st. Cowen and Company reissued a buy rating and set a $46.00 price target on shares of Coach in a research report on Thursday, September 28th. Finally, Barclays PLC initiated coverage on Coach in a research report on Tuesday, September 19th. They set an equal weight rating and a $45.00 price target for the company. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-one have issued a buy rating to the stock. The company has an average rating of Buy and an average price target of $47.17.

Coach (NYSE:COH) opened at 39.64 on Friday. Coach has a 52-week low of $34.07 and a 52-week high of $48.85. The firm has a market cap of $11.20 billion, a price-to-earnings ratio of 18.97 and a beta of 0.44. The company has a 50 day moving average price of $40.48 and a 200-day moving average price of $43.61.

Coach (NYSE:COH) last posted its earnings results on Tuesday, August 15th. The luxury accessories retailer reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $1.15 billion. During the same period in the previous year, the firm earned $0.45 earnings per share. The company’s revenue was down 1.8% on a year-over-year basis. Equities research analysts anticipate that Coach will post $2.37 EPS for the current year.

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The business also recently declared a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Friday, September 8th were issued a $0.3375 dividend. The ex-dividend date of this dividend was Thursday, September 7th. This represents a $1.35 dividend on an annualized basis and a dividend yield of 3.41%. Coach’s dividend payout ratio (DPR) is presently 64.59%.

In other news, SVP Melinda Brown sold 8,250 shares of the company’s stock in a transaction on Tuesday, September 12th. The shares were 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 legal filing with the SEC, which is available at the SEC website. Also, CAO Todd Kahn sold 4,586 shares of the company’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $40.85, for a total transaction 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. Insiders own 0.98% of the company’s stock.

A number of large investors have recently made changes to their positions in COH. Mckinley Capital Management LLC Delaware purchased a new position in Coach in the second quarter worth $115,000. Dupont Capital Management Corp purchased a new position in Coach in the second quarter worth $118,000. Winslow Evans & Crocker Inc. grew its position in Coach by 18.1% in the second quarter. Winslow Evans & Crocker Inc. now owns 2,616 shares of the luxury accessories retailer’s stock worth $124,000 after acquiring an additional 400 shares in the last quarter. Seven Eight Capital LP purchased a new position in Coach in the second quarter worth $188,000. Finally, Harvest Fund Management Co. Ltd purchased a new position in Coach in the second quarter worth $192,000. Institutional investors own 85.54% of the company’s stock.

Coach Company Profile

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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