Coach, Inc. (COH) Rating Lowered to Strong Sell at Zacks Investment Research

Coach, Inc. (NYSE:COH) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a report issued on Tuesday.

According to Zacks, “In the past three months, Coach has exhibited a bearish run. In fact, the stock came under pressure after the company came out with its fourth-quarter fiscal 2017 results, wherein top line fell short of the Zacks Consensus Estimate for the fourth quarter in row and continued to decline year over year. Even earnings beat for the 14th straight quarter failed to provide cushion to the stock. Analysts pointed that not so encouraging outlook for fiscal 2018, in spite of Kate Spade buyout, also dampened investors’ mood. Well we believe this may be short lived as Coach looks much more disciplined in its approach in becoming a multi-brand company and adapt to the changing retail landscape with transformational initiatives revolving around products, stores and marketing. Coach also registered positive comps at its North American segment for the fifth consecutive quarter and sees growth prospects in China, Japan and Europe.”

Other analysts have also recently issued research reports about the stock. Jefferies Group LLC set a $53.00 target price on shares of Coach and gave the company a “buy” rating in a report on Tuesday, July 4th. Oppenheimer Holdings, Inc. restated a “buy” rating on shares of Coach in a report on Tuesday, July 4th. Goldman Sachs Group, Inc. (The) upgraded shares of Coach to a “buy” rating in a report on Saturday, July 1st. Deutsche Bank AG upgraded shares of Coach to a “buy” rating in a report on Saturday, July 1st. Finally, Canaccord Genuity started coverage on shares of Coach in a report on Friday, June 30th. They set a “buy” rating and a $59.00 target price on the stock. Two analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-one have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $47.17.

Coach (COH) traded up 0.79% on Tuesday, hitting $39.63. 894,828 shares of the company’s stock were exchanged. Coach has a 52-week low of $34.07 and a 52-week high of $48.85. The firm has a 50 day moving average price of $40.48 and a 200-day moving average price of $43.61. The stock has a market cap of $11.20 billion, a P/E ratio of 18.96 and a beta of 0.44.

Coach (NYSE:COH) last announced its earnings results on Tuesday, August 15th. The luxury accessories retailer reported $0.50 EPS for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.01. Coach had a net margin of 13.17% and a return on equity of 21.31%. The firm had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter in the previous year, the business posted $0.45 EPS. The company’s quarterly revenue was down 1.8% on a year-over-year basis. Analysts predict that Coach will post $2.37 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: This article was first posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this article on another publication, it was stolen and reposted in violation of US and international copyright law. The original version of this article can be viewed at https://ledgergazette.com/2017/10/17/coach-inc-coh-rating-lowered-to-strong-sell-at-zacks-investment-research.html.

In related news, CAO Todd Kahn sold 4,586 shares of the stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $40.85, for a total value of $187,338.10. Following the completion of the sale, the chief accounting officer now directly owns 72,412 shares of the company’s stock, valued at approximately $2,958,030.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Melinda Brown sold 8,250 shares of the stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $41.28, for a total transaction of $340,560.00. Following the completion of the sale, the senior vice president now directly owns 42,884 shares of the company’s stock, valued at $1,770,251.52. The disclosure for this sale can be found here. 0.98% of the stock is owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in COH. Mckinley Capital Management LLC Delaware purchased a new stake in Coach in the 2nd quarter worth approximately $115,000. Dupont Capital Management Corp purchased a new stake in Coach in the 2nd quarter worth approximately $118,000. Winslow Evans & Crocker Inc. increased its holdings in Coach by 18.1% in the 2nd 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 stake in Coach in the 2nd quarter worth approximately $188,000. Finally, Harvest Fund Management Co. Ltd purchased a new stake in Coach in the 2nd quarter worth approximately $192,000. 85.54% of the stock is owned by institu

According to Zacks, “In the past three months, Coach has exhibited a bearish run. In fact, the stock came under pressure after the company came out with its fourth-quarter fiscal 2017 results, wherein top line fell short of the Zacks Consensus Estimate for the fourth quarter in row and continued to decline year over year. Even earnings beat for the 14th straight quarter failed to provide cushion to the stock. Analysts pointed that not so encouraging outlook for fiscal 2018, in spite of Kate Spade buyout, also dampened investors’ mood. Well we believe this may be short lived as Coach looks much more disciplined in its approach in becoming a multi-brand company and adapt to the changing retail landscape with transformational initiatives revolving around products, stores and marketing. Coach also registered positive comps at its North American segment for the fifth consecutive quarter and sees growth prospects in China, Japan and Europe.”

Other analysts have also recently issued research reports about the stock. Jefferies Group LLC set a $53.00 target price on shares of Coach and gave the company a “buy” rating in a report on Tuesday, July 4th. Oppenheimer Holdings, Inc. restated a “buy” rating on shares of Coach in a report on Tuesday, July 4th. Goldman Sachs Group, Inc. (The) upgraded shares of Coach to a “buy” rating in a report on Saturday, July 1st. Deutsche Bank AG upgraded shares of Coach to a “buy” rating in a report on Saturday, July 1st. Finally, Canaccord Genuity started coverage on shares of Coach in a report on Friday, June 30th. They set a “buy” rating and a $59.00 target price on the stock. Two analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-one have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $47.17.

Coach (COH) traded up 0.79% on Tuesday, hitting $39.63. 894,828 shares of the company’s stock were exchanged. Coach has a 52-week low of $34.07 and a 52-week high of $48.85. The firm has a 50 day moving average price of $40.48 and a 200-day moving average price of $43.61. The stock has a market cap of $11.20 billion, a P/E ratio of 18.96 and a beta of 0.44.

Coach (NYSE:COH) last announced its earnings results on Tuesday, August 15th. The luxury accessories retailer reported $0.50 EPS for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.01. Coach had a net margin of 13.17% and a return on equity of 21.31%. The firm had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter in the previous year, the business posted $0.45 EPS. The company’s quarterly revenue was down 1.8% on a year-over-year basis. Analysts predict that Coach will post $2.37 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: This article was first posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this article on another publication, it was stolen and reposted in violation of US and international copyright law. The original version of this article can be viewed at https://ledgergazette.com/2017/10/17/coach-inc-coh-rating-lowered-to-strong-sell-at-zacks-investment-research.html.

In related news, CAO Todd Kahn sold 4,586 shares of the stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $40.85, for a total value of $187,338.10. Following the completion of the sale, the chief accounting officer now directly owns 72,412 shares of the company’s stock, valued at approximately $2,958,030.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Melinda Brown sold 8,250 shares of the stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $41.28, for a total transaction of $340,560.00. Following the completion of the sale, the senior vice president now directly owns 42,884 shares of the company’s stock, valued at $1,770,251.52. The disclosure for this sale can be found here. 0.98% of the stock is owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in COH. Mckinley Capital Management LLC Delaware purchased a new stake in Coach in the 2nd quarter worth approximately $115,000. Dupont Capital Management Corp purchased a new stake in Coach in the 2nd quarter worth approximately $118,000. Winslow Evans & Crocker Inc. increased its holdings in Coach by 18.1% in the 2nd 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 stake in Coach in the 2nd quarter worth approximately $188,000. Finally, Harvest Fund Management Co. Ltd purchased a new stake in Coach in the 2nd quarter worth approximately $192,000. 85.54% of the stock is owned by institutional investors.

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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