Coats Group (LON:COA) Stock Price Down 12.3% – Here’s What Happened

Coats Group plc (LON:COA)’s share price traded down 12.3% during trading on Friday . The stock traded as low as GBX 71.99 ($0.97) and last traded at GBX 72 ($0.97). 37,857,023 shares traded hands during trading, an increase of 597% from the average session volume of 5,432,444 shares. The stock had previously closed at GBX 82.10 ($1.10).

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Royal Bank Of Canada restated an “outperform” rating and issued a GBX 110 ($1.48) price target on shares of Coats Group in a research report on Wednesday. Berenberg Bank reissued a “buy” rating and issued a GBX 125 ($1.68) target price on shares of Coats Group in a report on Thursday, July 3rd.

Coats Group Stock Up 1.1%

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 market cap of £1.46 billion, a P/E ratio of 24.47, a PEG ratio of 0.92 and a beta of 1.40. The firm’s 50-day simple moving average is GBX 78.30 and its 200 day simple moving average is GBX 81.51.

Insider Activity

In related news, insider David Paja acquired 150,000 shares of the business’s stock in a transaction 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 ($151,006.71). Also, insider Hannah Nichols purchased 26,092 shares of the business’s stock in a transaction that occurred on Thursday, May 22nd. The shares were purchased at an average cost of GBX 76 ($1.02) per share, with a total value of £19,829.92 ($26,617.34). 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.