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

Key Points

• Coats Group's stock has recently crossed above its 50-day moving average of GBX 76.59, indicating potential positive momentum, with shares trading at GBX 77.80 ($1.05).
• Analysts maintain a strong outlook for Coats Group, with target prices of GBX 130 from Berenberg Bank and GBX 110 from Royal Bank of Canada.
• Insiders have been actively purchasing shares, acquiring a total of 912,985 shares in the last quarter, demonstrating confidence in the company’s future performance.

Coats Group plc (LON:COA - Get Free Report)'s share price passed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of GBX 76.59 ($1.03) and traded as high as GBX 78.10 ($1.05). Coats Group shares last traded at GBX 77.80 ($1.05), with a volume of 6,773,355 shares.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on COA. Royal Bank Of Canada restated an "outperform" rating and issued a GBX 110 target price 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 research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of GBX 120.

Coats Group Price Performance

The company has a debt-to-equity ratio of 103.51, a current ratio of 1.20 and a quick ratio of 1.06. The firm has a market cap of £1.55 billion, a PE ratio of 25.88, a price-to-earnings-growth ratio of 0.92 and a beta of 1.40. The firm has a 50-day simple moving average of GBX 76.58 and a 200 day simple moving average of GBX 78.12.

Insider Transactions at Coats Group

In related news, insider Hannah Nichols purchased 129,870 shares of the stock in a transaction dated Monday, July 21st. The stock was purchased at an average price of GBX 77 per share, with a total value of £99,999.90. Also, insider Steve Murray acquired 38,961 shares of Coats Group stock in a transaction that occurred on Monday, July 21st. The stock was acquired at an average price of GBX 77 per share, with a total value of £29,999.97. Insiders have bought 912,985 shares of company stock worth $69,999,845 over the last quarter. 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.