Coats Group plc ( (GB:COA) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
Coats Group plc’s stock is experiencing a downturn following the company’s announcement to exit its US Yarns business, including the closure of its Kings Mountain facility. This strategic move is aimed at enhancing EBIT margins by focusing on more profitable segments. The restructuring is expected to generate a modest cash inflow and may lead analysts to adjust their price targets as Coats reallocates resources to improve financial performance.
More about Coats Group plc
YTD Price Performance: -17.90%
Average Trading Volume: 2,731,624
Technical Sentiment Signal: Hold
Current Market Cap: £1.26B
For further insights into COA stock on TipRanks’ Stock Analysis page.
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