Today: Today: OTR Global Downgrades Coach Inc. (COH) to Positive

Today: OTR Global Downgrades Coach Inc. (COH) to Positive

Coach Inc. (NYSE:COH) was downgraded by equities research analysts at OTR Global to a “positive” rating in a report released on Thursday.

COH has been the topic of several other reports. Jefferies Group reiterated a “buy” rating and set a $53.00 price target on shares of Coach in a research note on Wednesday, August 3rd. Vetr lowered shares of Coach from a “strong-buy” rating to a “buy” rating and set a $48.50 price target on the stock. in a research note on Tuesday, August 2nd. Zacks Investment Research upgraded shares of Coach from a “hold” rating to a “buy” rating and set a $43.00 price target on the stock in a research note on Wednesday, June 29th. TheStreet upgraded shares of Coach from a “hold” rating to a “buy” rating in a research note on Tuesday, August 9th. Finally, Piper Jaffray Cos. set a $46.00 price target on shares of Coach and gave the stock a “buy” rating in a research note on Monday, September 19th. Two analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and twenty-two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $42.13.

Shares of Coach (NYSE:COH) opened at 35.86 on Thursday. The stock’s 50 day moving average is $36.76 and its 200 day moving average is $39.31. Coach has a 1-year low of $28.70 and a 1-year high of $43.71. The stock has a market capitalization of $10.00 billion, a price-to-earnings ratio of 21.73 and a beta of 0.90.

Coach (NYSE:COH) last released its quarterly earnings data on Tuesday, August 9th. The luxury accessories retailer reported $0.45 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.04. The business earned $1.15 billion during the quarter, compared to analysts’ expectations of $1.17 billion. Coach had a net margin of 10.25% and a return on equity of 21.32%. The company’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.31 EPS. On average, equities analysts forecast that Coach will post $2.16 EPS for the current 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 $0.3375 dividend. The ex-dividend date was Thursday, September 8th. This represents a $1.35 annualized dividend and a dividend yield of 3.76%. Coach’s dividend payout ratio (DPR) is presently 81.82%.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Alps Advisors Inc. increased its position in shares of Coach by 26.1% in the second quarter. Alps Advisors Inc. now owns 695,886 shares of the luxury accessories retailer’s stock valued at $28,350,000 after buying an additional 144,148 shares during the period. Geode Capital Management LLC increased its position in Coach by 2.6% in the first quarter. Geode Capital Management LLC now owns 2,270,176 shares of the luxury accessories retailer’s stock worth $90,829,000 after buying an additional 56,634 shares during the period. Zurich Insurance Group Ltd FI bought a new position in Coach during the first quarter worth approximately $917,000. Legal & General Group Plc increased its position in Coach by 2.7% in the first quarter. Legal & General Group Plc now owns 1,267,087 shares of the luxury accessories retailer’s stock worth $50,799,000 after buying an additional 33,163 shares during the period. Finally, Greylin Investment Mangement Inc. increased its position in Coach by 5.2% in the second quarter. Greylin Investment Mangement Inc. now owns 737,030 shares of the luxury accessories retailer’s stock worth $30,027,000 after buying an additional 36,430 shares during the period. Institutional investors and hedge funds own 89.38% of the company’s stock.

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