Coats Group's (COA) "Buy" Rating Reaffirmed at Berenberg Bank

Key Points

• Berenberg Bank has reiterated a "buy" rating for Coats Group (LON:COA) with a target price of GBX 130, indicating a potential upside of 77.60% from its previous close.
• Insider transactions show significant confidence in the company as two insiders purchased a total of 188,311 shares at an average price of GBX 77 ($1.03) per share.
• Coats Group operates as a leader in thread manufacturing and innovative materials for apparel and footwear, contributing to a market capitalization of £1.47 billion.

Berenberg Bank reaffirmed their buy rating on shares of Coats Group (LON:COA - Free Report) in a research note issued to investors on Wednesday morning, MarketBeat reports. Berenberg Bank currently has a GBX 130 ($1.75) price objective on the stock.

Separately, Royal Bank Of Canada reissued an "outperform" rating and issued a GBX 110 ($1.48) target price on shares of Coats Group in a research report on Wednesday, July 16th.

Coats Group Stock Performance

LON:COA traded down GBX 1.29 ($0.02) during trading hours on Wednesday, reaching GBX 71.21 ($0.96). The stock had a trading volume of 26,689,154 shares, compared to its average volume of 6,431,046. The company has a debt-to-equity ratio of 103.51, a quick ratio of 1.06 and a current ratio of 1.20. The stock has a 50 day simple moving average of GBX 77.17 and a 200 day simple moving average of GBX 79.63. Coats Group has a 12-month low of GBX 64.80 ($0.87) and a 12-month high of GBX 104.20 ($1.40). The stock has a market cap of £1.43 billion, a P/E ratio of 23.94, a price-to-earnings-growth ratio of 0.92 and a beta of 1.40.

Insider Transactions at Coats Group

In related news, insider Wu Gang purchased 58,441 shares of the business's stock in a transaction dated Monday, July 21st. The stock was purchased at an average cost of GBX 77 ($1.04) per share, with a total value of £44,999.57 ($60,523.97). Also, insider David Paja purchased 324,675 shares of the business's stock in a transaction dated Monday, July 21st. The stock was bought at an average cost of GBX 77 ($1.04) per share, with a total value of £249,999.75 ($336,247.14). Over the last ninety days, insiders purchased 939,077 shares of company stock valued at $71,982,837. 1.65% of the stock is currently owned by company insiders.

Coats Group Company Profile

Coats is a world leader in thread manufacturing and structural components for apparel and footwear, as well as an innovative pioneer in performance materials. These critical solutions are used to create a wide range of products, including ones that provide safety and protection for people, data and the environment.