Insider Buying: Coats Group plc (LON:COA) Insider Buys 150,000 Shares of Stock

Coats Group plc (LON:COA) insider David Paja purchased 150,000 shares of Coats Group stock in a transaction that occurred on Wednesday, October 9th. The shares were acquired at an average price of GBX 97 ($1.27) per share, with a total value of £145,500 ($190,420.10).

Coats Group Price Performance

Shares of LON COA traded up GBX 0.70 ($0.01) during midday trading on Wednesday, reaching GBX 97.20 ($1.27). 1,855,882 shares of the company were exchanged, compared to its average volume of 3,015,551. The stock’s 50-day moving average price is GBX 98.64 and its 200-day moving average price is GBX 88.78. The stock has a market cap of £1.55 billion, a P/E ratio of 1,958.00, a PEG ratio of 0.92 and a beta of 1.40. Coats Group plc has a one year low of GBX 64.30 ($0.84) and a one year high of GBX 104.20 ($1.36). The company has a quick ratio of 1.06, a current ratio of 1.20 and a debt-to-equity ratio of 97.61.

Coats Group Cuts Dividend

The business also recently announced a dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 17th will be paid a dividend of $0.01 per share. The ex-dividend date is Thursday, October 17th. This represents a dividend yield of 0.81%. Coats Group’s payout ratio is presently 4,000.00%.

Wall Street Analysts Forecast Growth

COA has been the subject of a number of research analyst reports. Berenberg Bank boosted their price objective on Coats Group from GBX 120 ($1.57) to GBX 135 ($1.77) and gave the stock a “buy” rating in a report on Wednesday, September 4th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a GBX 90 ($1.18) price target on shares of Coats Group in a research report on Thursday, July 4th.

About Coats Group

Coats Group plc, together with its subsidiaries, manufactures and supplies industrial sewing threads worldwide. The company provides threads, yarns, zips, trims, composites, and fabrics for use in apparel, such as children's wear, denims, intimate and underwear, ladieswear, leather wear, menswear, sports and activewear, and workwear & uniforms; handbags, luggage, bags, and fashion accessories; dress and casual, protective, and sports footwear; home textiles, mattress and beddings, outdoor goods, and sporting goods; cut protection, fire services, healthcare PPE, industrial thermal, and military purposes; automotive, marine, and tyre cord applications; telecoms and energy cables; and tea bags, and medical and filtration purpose.