Coats Group (COA)

Sector:

Financials

Index:

FTSE 250

 94.00p
   
  • Change Today:
      0.000p
  • 52 Week High: 104.20p
  • 52 Week Low: 66.00p
  • Currency: UK Pounds
  • Shares Issued: 1,597.81m
  • Volume: 0
  • Market Cap: £1,501.94m
  • RiskGrade: 39
  • Beta: 1.17

Berenberg slightly raises target price on Coats Group

By Iain Gilbert

Date: Monday 13 Mar 2023

LONDON (ShareCast) - (Sharecast News) - Analysts at Berenberg slightly raised their target price on thread manufacturer Coats Group from 90.0p to 100.0p on Monday after the group's recent results demonstrated "a strong performance".
Berenberg noted that revenues at Coats were up 10% year-on-year on an organic basis and margins were up 120 basis points at 14.8% despite "a challenging macroeconomic backdrop".

The German bank also highlighted that short-term pressures from customer destocking and cost inflation should ease into H223 and stated it continues to see Coats as "a long-term winner" with an attractive earnings growth profile.

"Having taken a further 1% of share in thread, Coats now accounts for 24% of the market - positioning it well to outperform - while the group's acquisitions of Rhenoflex and Texon should improve resilience and open up the addressable footwear market," added Berenberg, which reiterated its 'buy' rating on the stock.

"Coats' shares currently trade on just 11.5x (9.3x FY24 P/E), which we believe is undemanding for a global market leader. Furthermore, the shares offer an attractive 8.1% FY24 FCF yield, with significant upside potential to FCF forecasts if the group is able to trigger its 'switch-off' mechanism on pension funding cashflows (as per the above). We increase our price target to 100.0p (from 90.0p), which would value the shares on a 15x FY23 P/E (12x FY24 P/E)."









Reporting by Iain Gilbert at Sharecast.com

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Coats Group Market Data

Currency UK Pounds
Share Price 94.00p
Change Today 0.000p
% Change 0.00 %
52 Week High 104.20p
52 Week Low 66.00p
Volume 0
Shares Issued 1,597.81m
Market Cap £1,501.94m
Beta 1.17
RiskGrade 39

Coats Group Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
83.8% below the market average83.8% below the market average83.8% below the market average83.8% below the market average83.8% below the market average
90.74% below the sector average90.74% below the sector average90.74% below the sector average90.74% below the sector average90.74% below the sector average
Price Trend
79.04% above the market average79.04% above the market average79.04% above the market average79.04% above the market average79.04% above the market average
58.93% above the sector average58.93% above the sector average58.93% above the sector average58.93% above the sector average58.93% above the sector average
Income
34.51% below the market average34.51% below the market average34.51% below the market average34.51% below the market average34.51% below the market average
72.31% below the sector average72.31% below the sector average72.31% below the sector average72.31% below the sector average72.31% below the sector average
Growth
35.26% below the market average35.26% below the market average35.26% below the market average35.26% below the market average35.26% below the market average
5.88% below the sector average5.88% below the sector average5.88% below the sector average5.88% below the sector average5.88% below the sector average

What The Brokers Say

Strong Buy 4
Buy 3
Neutral 2
Sell 0
Strong Sell 0
Total 9
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Coats Group Dividends

  Latest Previous
  Interim Final
Ex-Div 17-Oct-24 02-May-24
Paid 14-Nov-24 30-May-24
Amount 0.93¢ 1.99¢

Trades for --2024

Time Volume / Share Price
0 @ 0.000p

Coats Group Key Personnel

Chair David Gosnell
CFO Jackie Callaway
CEO David Paja

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