RBC Capital Reiterates a Buy Rating on Coach

By Austin Angelo

RBC Capital analyst Brian Tunick reiterated a Buy rating on Coach (NYSE: COH) today and set a price target of $50. The company’s shares closed yesterday at $46.29, close to its 52-week high of $47.30.

According to TipRanks.com, Tunick is ranked 0 out of 5 stars with an average return of -3.7% and a 45.7% success rate. Tunick covers the Services sector, focusing on stocks such as Signet Jewelers Limited, Ascena Retail Group, and Abercrombie Fitch.

Currently, the analyst consensus on Coach is Strong Buy and the average price target is $51.55, representing an 11.4% upside.

In a report issued on June 1, UBS also reiterated a Buy rating on the stock with a $55 price target.

Based on Coach’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $995 million and quarterly net profit of $122 million. In comparison, last year the company earned revenue of $1.03 billion and had a net profit of $113 million.

Based on the recent corporate insider activity of 22 insiders, corporate insider sentiment is negative on the stock. Last month, Andre Cohen, the Pres N. America of COH sold 10,087 shares for a total of $457,445.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Coach, Inc. engages in manufacturing of women’s handbags, belts and retails custom made clothing. Its products include footwear; wearable such as scarves, jackets, gloves, and hats; jewelry such as bracelets, necklaces, rings, and earrings; travel bags which include luggage, travel kits, and valet trays; sunwear; watches; and fragrance which includes eau de perfume spray, eau de toilette spray, purse spray, body lotion, and body splashes. The company operates through three geographical segments: North America, International and Other. Coach was founded by Dawn Hughes in 1941 and is headquartered in New York, NY.