Coach (COH) saw its stock take a hit Thursday afternoon following the company’s disappointing sales guidance.
Analysts lowered their rating on COH following the company’s recent guidance announcement. Barclays lowered its price target on Coach stock to $45 from $48.
The stock’s disappointing Thursday can also be attributed to concerns over competition. Barclays reiterated its “equal weight” rating on the stock.
Coach is an American company that focuses on luxury leather goods including handbags, luggage, wallets and more. Its headquarters are located in New York City and Lew Frankfort is the CEO.
COH stock is down close to 10%.
More Coach Stock News
