Coty (NYSE:COTY) Hits New 12-Month Low on Analyst Downgrade

Coty Inc. (NYSE:COTY)’s stock price hit a new 52-week low on Tuesday after Jefferies Financial Group lowered their price target on the stock from $12.00 to $11.00. Jefferies Financial Group currently has a buy rating on the stock. Coty traded as low as $8.18 and last traded at $8.19, with a volume of 2025392 shares traded. The stock had previously closed at $9.17.

Several other research analysts have also issued reports on COTY. Raymond James dropped their price target on shares of Coty from $14.00 to $13.00 and set an “outperform” rating for the company in a research report on Tuesday. Deutsche Bank Aktiengesellschaft decreased their price target on Coty from $14.00 to $12.00 and set a “buy” rating on the stock in a research note on Wednesday. JPMorgan Chase & Co. cut their price objective on Coty from $11.00 to $10.00 and set a “neutral” rating for the company in a report on Tuesday. Stifel Nicolaus dropped their target price on shares of Coty from $11.00 to $10.00 and set a “hold” rating for the company in a research report on Tuesday. Finally, Barclays reduced their price target on shares of Coty from $10.00 to $8.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Seven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, Coty presently has an average rating of “Moderate Buy” and a consensus price target of $12.15.

Hedge Funds Weigh In On Coty

Several large investors have recently made changes to their positions in COTY. M&G Plc raised its position in shares of Coty by 41.4% during the 2nd quarter. M&G Plc now owns 509,694 shares of the company’s stock valued at $5,097,000 after acquiring an additional 149,351 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in Coty by 733.0% during the second quarter. Assenagon Asset Management S.A. now owns 1,900,000 shares of the company’s stock worth $19,038,000 after buying an additional 1,671,897 shares during the last quarter. Nomura Holdings Inc. acquired a new position in shares of Coty during the 4th quarter worth about $1,533,000. Retirement Systems of Alabama increased its stake in shares of Coty by 54.7% in the 1st quarter. Retirement Systems of Alabama now owns 1,064,223 shares of the company’s stock valued at $12,728,000 after acquiring an additional 376,479 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of Coty by 40.2% in the 2nd quarter. Renaissance Technologies LLC now owns 522,630 shares of the company’s stock valued at $5,237,000 after acquiring an additional 149,900 shares during the period. Institutional investors and hedge funds own 42.36% of the company’s stock.

Coty Trading Down 2.4 %

The business’s 50-day moving average price is $9.23 and its two-hundred day moving average price is $10.01. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.75 and a quick ratio of 0.46. The company has a market capitalization of $6.93 billion, a P/E ratio of 34.72, a PEG ratio of 0.67 and a beta of 1.89.

Coty (NYSE:COTY) last released its quarterly earnings results on Tuesday, August 20th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.07). The firm had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.38 billion. Coty had a net margin of 1.46% and a return on equity of 8.05%. The business’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.01 EPS. As a group, analysts forecast that Coty Inc. will post 0.56 EPS for the current fiscal year.

About Coty

Coty Inc, together with its subsidiaries, manufactures, markets, distributes, and sells beauty products worldwide. It operates through Prestige and Consumer Beauty segments. The company provides fragrance, color cosmetics, and skin and body care products. It offers Prestige segment products primarily through prestige retailers, including perfumeries, department stores, e-retailers, direct-to-consumer websites, and duty-free shops under the Burberry, Calvin Klein, Chloe, Davidoff, Escada, Gucci, Hugo Boss, Jil Sander, Joop!, Kylie Jenner, Lancaster, Marc Jacobs, Miu Miu, Orveda, philosophy, SKKN BY KIM, and Tiffany & Co brands.