Coats Group (LON:COA) Shares Down 12.3% - Here's What Happened

Coats Group plc (LON:COA - Get Free Report)'s share price was down 12.3% during mid-day trading on Thursday . The company traded as low as GBX 71.99 ($0.97) and last traded at GBX 72 ($0.97). Approximately 37,857,023 shares traded hands during mid-day trading, an increase of 597% from the average daily volume of 5,432,444 shares. The stock had previously closed at GBX 82.10 ($1.10).

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on COA shares. Berenberg Bank reiterated a "buy" rating and issued a GBX 125 ($1.68) 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 ($1.48) price target on shares of Coats Group in a research report on Wednesday.

Coats Group Stock Down 12.3%

The company's 50-day moving average price is GBX 78.30 and its 200 day moving average price is GBX 81.75. The stock has a market cap of £1.45 billion, a PE ratio of 24.20, a price-to-earnings-growth 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.

Insider Activity at Coats Group

In other news, insider David Paja bought 150,000 shares of Coats Group stock in a transaction that occurred on Wednesday, June 4th. The stock was bought at an average cost of GBX 75 ($1.01) per share, with a total value of £112,500 ($151,067.54). Also, insider Hannah Nichols bought 26,092 shares of Coats Group stock in a transaction that occurred on Thursday, May 22nd. The stock was purchased at an average cost of GBX 76 ($1.02) per share, with a total value of £19,829.92 ($26,628.06). Corporate 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.

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