Downgrade Alert for Coach (COH)
Coach (NYSE:COH) was downgraded from Buy to Neutral at Buckingham today. The stock closed yesterday at $50.75 on volume of 51.0 million shares, above average daily volume of 3.8 million.
Coach, Inc. designs, produces, and markets primarily leather goods. The Company's products include handbags, business cases, men's and women's accessories, luggage and travel accessories, leather outerwear, and gloves. Coach, together with a licensing partner, offers watches, footwear, furniture, and eyewear.
Potential upside of 36.4% exists for Coach, based on a current level of $50.75 and analysts' average consensus price target of $69.24. The stock should run into initial resistance at its 50-day moving average (MA) of $57.18 and subsequent resistance at its 200-day MA of $60.18.
In the past 52 weeks, shares of Coach have traded between a low of $48.24 and a high of $79.70 and closed yesterday at $50.75, which is 5% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has remained constant.
SmarTrend is monitoring the recent change of momentum in Coach. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Coach in search of a potential trend change.
Keywords: analyst upgrades/downgrades coach