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Analysts May Be Ahead of the Pack with Buy Call on Coach Shares

With their fresh Buy recommendations on shares of luxury leather goods maker Coach (COH), Oppenheimer’s Anna Andreeva, and Piper Jaffray’s Erinn Murphy may have got the jump on fellow consumer goods analysts, data on TipRanks’ Daily Analyst Recommendations shows.

While the data shows that the most recent comments by their peers are more than 30 days old, Andreeva and Murphy made their recommendations following Coach’s quarterly earnings call yesterday where management said handbags priced higher than $400 made up more than half of the company’s sales in the category. Based on a dozen analysts offering recommendations for COH in the last three months, the overall consensus is Moderate Buy.

Speaking ahead of the holiday shopping season, CEO Victor Luis noted on the call that the handbag maker has recently “implemented the strategic actions necessary to reposition the brand and streamline our distribution in the promotional North American department store channel.” The CEO has been a net buyer of his company’s shares in the past year, according to insider data compiled by TipRanks.

The 12-month average price target is $45.25—23% upside from current levels—Andreeva has a $50 target and Murphy sees $44 for the shares. The Oppenheimer analyst is rated three stars on TipRanks, while Piper Jaffray’s Murphy is not rated.

Check out the Daily Analysts Recommendations here on TipRanks.

Product photo courtesy of Coach Inc.

 

 

The post Analysts May Be Ahead of the Pack with Buy Call on Coach Shares appeared first on TipRanks Blog.