Coats Group (LON:COA) Share Price Passes Below Fifty Day Moving Average - Should You Sell?

Key Points

• Coats Group shares fell below their 50-day moving average, trading as low as GBX 75 ($1.00) before recovering slightly to GBX 76.03 ($1.02).
• Analyst recommendations include a "buy" rating from Berenberg Bank with a target price of GBX 125 ($1.67) and an "outperform" rating from Royal Bank of Canada with a price objective of GBX 110 ($1.47).
• Insider purchases indicate confidence, with insiders acquiring a total of 939,077 shares valued at approximately $71.98 million in the last ninety days.

Coats Group plc (LON:COA - Get Free Report) shares crossed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of GBX 77.83 ($1.03) and traded as low as GBX 75 ($1.00). Coats Group shares last traded at GBX 76.03 ($1.01), with a volume of 5,997,722 shares changing hands.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on COA. Berenberg Bank restated a "buy" rating and set a GBX 125 ($1.66) price target on shares of Coats Group in a research note on Thursday, July 3rd. Royal Bank Of Canada reaffirmed an "outperform" rating and set a GBX 110 ($1.46) target price on shares of Coats Group in a research report on Wednesday, July 16th.

Coats Group Trading Down 0.9%

The company has a quick ratio of 1.06, a current ratio of 1.20 and a debt-to-equity ratio of 103.51. The company's 50-day moving average is GBX 77.69 and its 200-day moving average is GBX 80.44. The stock has a market capitalization of £1.47 billion, a price-to-earnings ratio of 24.64, a PEG ratio of 0.92 and a beta of 1.40.

Insider Activity

In other news, insider Steve Murray purchased 38,961 shares of the company's stock in a transaction that occurred on Monday, July 21st. The shares were purchased at an average price of GBX 77 ($1.02) per share, for a total transaction of £29,999.97 ($39,819.45). Also, insider David Gosnell acquired 129,870 shares of the firm's stock in a transaction dated Monday, July 21st. The stock was purchased at an average cost of GBX 77 ($1.02) per share, with a total value of £99,999.90 ($132,731.48). In the last quarter, insiders have acquired 939,077 shares of company stock valued at $71,982,837. Insiders own 1.65% of the company's stock.

About Coats Group

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.