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Coats Group plc ( (GB:COA) ) has issued an announcement.
Coats Group plc announced a non-pre-emptive placing of new ordinary shares, with directors and key management personnel subscribing to a total of 762,985 shares at 77.0 pence per share. This move is part of the company’s strategy to strengthen its capital base and support future growth initiatives, reflecting confidence from the management and aligning interests with shareholders.
The most recent analyst rating on (GB:COA) stock is a Hold with a £0.80 price target. To see the full list of analyst forecasts on Coats Group plc stock, see the GB:COA Stock Forecast page.
Spark’s Take on GB:COA Stock
According to Spark, TipRanks’ AI Analyst, GB:COA is a Neutral.
Coats Group plc’s solid financial performance and strategic acquisitions are significant positives. However, technical analysis indicates current bearish trends, and high leverage remains a risk. The company’s valuation is reasonable, and recent corporate events boost its growth potential.
To see Spark’s full report on GB:COA stock, click here.
More about Coats Group plc
Coats Group plc is a global leader in industrial thread manufacturing, providing a range of products and services to the apparel and footwear industries. The company focuses on delivering innovative solutions and maintaining a strong market presence in the textile sector.
Average Trading Volume: 4,503,822
Technical Sentiment Signal: Sell
Current Market Cap: £1.16B
Learn more about COA stock on TipRanks’ Stock Analysis page.