Coats Group (LON:COA) Shares Cross Below 50-Day Moving Average - Here's Why

Key Points

• Coats Group's shares fell below their 50-day moving average, trading as low as GBX 77.20 ($1.04) on Friday, impacting investor sentiment.
• Despite the recent drop, analysts remain positive with a consensus rating of "Buy" and an average price target of GBX 120.
• Insider activity is notable, with significant purchases of shares made by insiders, indicating confidence in the company's future performance.

Coats Group plc (LON:COA - Get Free Report) passed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of GBX 79.07 ($1.06) and traded as low as GBX 77.20 ($1.04). Coats Group shares last traded at GBX 78.65 ($1.06), with a volume of 1,426,064 shares.

Wall Street Analyst Weigh In

COA has been the topic of a number of research analyst reports. Berenberg Bank reissued a "buy" rating and issued a GBX 130 price target on shares of Coats Group in a report on Wednesday, August 6th. Royal Bank Of Canada reissued an "outperform" rating and issued a GBX 110 price target on shares of Coats Group in a report on Wednesday, July 16th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of GBX 120.

Coats Group Stock Down 0.4%

The firm has a market capitalization of £1.51 billion, a PE ratio of 1,621.65, a PEG ratio of 0.92 and a beta of 1.40. 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 company has a fifty day moving average price of GBX 79.07 and a 200-day moving average price of GBX 76.86.

Insider Activity

In related news, insider Steve Murray bought 38,961 shares of the business's stock in a transaction dated Monday, July 21st. The shares were purchased at an average price of GBX 77 per share, with a total value of £29,999.97. Also, insider Hannah Nichols bought 129,870 shares of the business's stock in a transaction dated Monday, July 21st. The shares were bought at an average cost of GBX 77 per share, for a total transaction of £99,999.90. In the last quarter, insiders have purchased 962,985 shares of company stock worth $74,949,845. Company insiders own 3.82% 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.

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