Coach and Nike to Open Near 52-Week Highs

The Nasdaq closed up more than 1%, the Dow and S&P 500 less than 1%, yesterday. Plenty of stocks rose to new 52-week highs during the trading session. Among them were Coach COH and Nike NKE, which reached multiyear highs of $69.47 and $103.29 per share, respectively. Coach this week posted better-than-expected quarterly results due to healthy sales in North America and China. The luxury goods purveyor opened new stores in both locations during the quarter. This New York-based retailer primarily offers handbags, and also operates stores in Japan, Hong Kong and Macau. It is an S&P 500 component, was founded in 1941, and now has a market cap of $20.5 billion. Earnings per share are anticipated to grow 16.1% over the next five years. The dividend yield is 1.3%. Though the P/E and PEG ratios are higher than the industry average, so is the operating margin. Analysts on average recommend buying the stock. The share price is about 16% higher than a month ago, as well as more than 32% higher than a year ago. But the stock's performance has been largely in line with the broader markets over the past six months. See also: Is Coach Still America's Premier Luxury Brand? Nike invests heavily in social networking in order to promote its brand image and products on the internet. It also has been exploiting growth potential in China, where it has enhanced its distribution network. This footwear, apparel and accessory designer and purveyor is based in Beaverton, Ore. Nike is an S&P 500 component with a market cap is $47.4 billion, and it was founded in 1964. Nike has a dividend yield of 2.7%, its return on equity is 22.5% and the long-term EPS growth forecast is 12.0%. The P/E and PEG ratios are higher than the industry average, but so is the operating margin. Twelve of 20 analysts following the stock recommend buying it. The share price increased almost 9% in the past month and is more than 50% higher than the 52-week low last March. The stock has outperformed competitors such as Steve Madden SHOO and Wolverine World Wide WWW over the past six months. See also: Top 4 Stocks in the Textile-Apparel Footwear and Accessories Industry with the Highest Dividend Yield.