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inthemoneystock (< 20)

Coach Inc Slammed: Where To Buy



June 19, 2014 – Comments (1) | RELATED TICKERS: TPR

Coach Inc (NYSE:COH) is taking a beating today, falling 10%. Concern over competition is taking its toll as sales estimates are being dropped. Where is the bottom? Let's explore. The first significant daily support level is $33.50. At this point the stock should have a solid multi-day, maybe even a multi-week bounce. Longer term, be careful with this equity as it may continue its slide. View this only as a swing trade long at that level.


Gareth Soloway



1 Comments – Post Your Own

#1) On June 19, 2014 at 2:35 PM, griderX (98.06) wrote:

COH provides additional guidance at analyst day:

Expects high teen EBIT margin for FY15 According to Bloomberg, COH sees F15 comps down mid-to-high 20s (including ecommerce) FactSet consesnsus implies (7.7%) Expects North American comps to be down high teens next year, and to be positive again in FY17Shares of COH are trading (9.1%) and are at their lows.

 I would stay away from COH unless it reaches $20's range...then it might be a speculative buy.


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