Coats Group (LON:COA) Shares Cross Below Fifty Day Moving Average - Here's Why

Key Points

• Coats Group plc shares have fallen below their 50-day moving average, trading at GBX 73.70 ($1.00) after reaching a low of GBX 73.40 ($0.99).
• Analysts from Berenberg Bank and Royal Bank of Canada have issued target prices of GBX 130 ($1.76) and GBX 110 ($1.49) respectively, maintaining a buy and outperform rating on the stock.
• Insiders purchased a significant number of shares recently, with 939,077 shares bought over the last quarter, indicating confidence in the company's future despite current price movements.

Coats Group plc (LON:COA - Get Free Report) crossed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of GBX 76.90 ($1.03) and traded as low as GBX 73.40 ($0.99). Coats Group shares last traded at GBX 73.70 ($0.99), with a volume of 1,618,456 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on COA shares. Royal Bank Of Canada reiterated an "outperform" rating and issued a GBX 110 price objective on shares of Coats Group in a report on Wednesday, July 16th. Berenberg Bank reaffirmed a "buy" rating and issued a GBX 130 price target on shares of Coats Group in a research note on Wednesday, August 6th. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of GBX 120.

Coats Group Trading Up 0.3%

The business has a 50 day moving average of GBX 76.66 and a 200-day moving average of GBX 78.61. The company has a current ratio of 1.20, a quick ratio of 1.06 and a debt-to-equity ratio of 103.51. The firm has a market capitalization of £1.52 billion, a P/E ratio of 25.41, a PEG ratio of 0.92 and a beta of 1.40.

Insider Transactions at Coats Group

In other news, insider David Gosnell bought 129,870 shares of the stock in a transaction on Monday, July 21st. The stock was purchased at an average price of GBX 77 per share, for a total transaction of £99,999.90. Also, insider Steve Murray bought 38,961 shares of the stock in a transaction on Monday, July 21st. The shares were purchased at an average price of GBX 77 per share, with a total value of £29,999.97. In the last 90 days, insiders acquired 939,077 shares of company stock worth $71,982,837. Company insiders own 1.65% of the company's stock.

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.