Trade Report: The Coach Inc. (COH) Cut to Buy at Vetr Inc.

The Coach Inc. (COH) Cut to Buy at Vetr Inc.

Vetr downgraded shares of Coach Inc. (NYSE:COH) from a strong-buy rating to a buy rating in a research report sent to investors on Tuesday morning. The brokerage currently has $42.82 target price on the luxury accessories retailer’s stock.

A number of other research analysts have also weighed in on COH. Stifel Nicolaus reissued a hold rating and issued a $38.00 target price on shares of Coach in a report on Tuesday, November 1st. Argus reissued a hold rating on shares of Coach in a report on Saturday, August 13th. Telsey Advisory Group upgraded Coach from a market perform rating to an outperform rating and set a $49.00 price target for the company in a research report on Friday, August 5th. Oppenheimer Holdings Inc. set a $50.00 price target on Coach and gave the stock a buy rating in a research report on Friday, October 21st. Finally, BMO Capital Markets restated a hold rating and issued a $31.00 price target on shares of Coach in a research report on Thursday, July 28th. Two equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and twenty-one have assigned a buy rating to the stock. The company presently has an average rating of Hold and an average price target of $42.13.

Shares of Coach (NYSE:COH) opened at 38.35 on Tuesday. Coach has a 52-week low of $29.66 and a 52-week high of $43.71. The stock has a market capitalization of $10.75 billion, a P/E ratio of 22.30 and a beta of 0.58. The stock has a 50 day moving average of $36.50 and a 200-day moving average of $38.55.

Coach (NYSE:COH) last posted its earnings results on Tuesday, November 1st. The luxury accessories retailer reported $0.45 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.45. Coach had a net margin of 10.70% and a return on equity of 21.30%. The firm earned $1.04 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same period last year, the firm posted $0.41 earnings per share. Coach’s revenue for the quarter was up .7% compared to the same quarter last year. Analysts predict that Coach will post $2.14 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 3rd. Investors of record on Friday, December 9th will be given a dividend of $0.3375 per share. This represents a $1.35 annualized dividend and a dividend yield of 3.52%. The ex-dividend date is Wednesday, December 7th. Coach’s payout ratio is 78.49%.

Several hedge funds have recently modified their holdings of COH. Ardevora Asset Management LLP boosted its stake in shares of Coach by 14.0% in the second quarter. Ardevora Asset Management LLP now owns 536,100 shares of the luxury accessories retailer’s stock valued at $21,841,000 after buying an additional 65,900 shares during the last quarter. Alps Advisors Inc. boosted its stake 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 last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Coach by 79.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 361,262 shares of the luxury accessories retailer’s stock valued at $14,718,000 after buying an additional 159,992 shares during the last quarter. Franklin Street Advisors Inc. NC boosted its stake in shares of Coach by 28.9% in the third quarter. Franklin Street Advisors Inc. NC now owns 144,082 shares of the luxury accessories retailer’s stock valued at $5,268,000 after buying an additional 32,327 shares during the last quarter. Finally, Greylin Investment Mangement Inc. boosted its stake in shares of Coach by 5.2% in the second quarter. Greylin Investment Mangement Inc. now owns 737,030 shares of the luxury accessories retailer’s stock valued at $30,027,000 after buying an additional 36,430 shares during the last quarter. Hedge funds and other institutional investors own 88.02% 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.

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