Coats Group (LON:COA) Share Price Passes Below 200 Day Moving Average – Here’s Why

Coats Group plc (LON:COA)’s stock price passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 93.81 ($1.17) and traded as low as GBX 93 ($1.16). Coats Group shares last traded at GBX 94.40 ($1.18), with a volume of 497,184 shares trading hands.

Wall Street Analyst Weigh In

Separately, Berenberg Bank increased their price target on Coats Group from GBX 120 ($1.50) to GBX 135 ($1.69) and gave the company a “buy” rating in a research note on Wednesday, September 4th.

Coats Group Trading Down 0.7 %

The firm has a market cap of £1.49 billion, a PE ratio of 1,874.00, a PEG ratio of 0.92 and a beta of 1.40. The company has a debt-to-equity ratio of 97.61, a current ratio of 1.20 and a quick ratio of 1.06. The stock’s fifty day simple moving average is GBX 94.97 and its 200-day simple moving average is GBX 93.81.

Insider Buying and Selling

In other Coats Group news, insider David Paja acquired 150,000 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were acquired at an average cost of GBX 95 ($1.19) per share, with a total value of £142,500 ($178,303.30). Also, insider Steve Murray bought 35,000 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were acquired at an average price of GBX 95 ($1.19) per share, with a total value of £33,250 ($41,604.10). Insiders bought 335,000 shares of company stock worth $32,125,000 in the last 90 days. Insiders own 1.65% of the company’s stock.

About Coats Group

About Coats Group plc

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.