Coty (NYSE:COTY) Price Target Cut to $14.00

Coty (NYSE:COTY) had its price objective reduced by investment analysts at Bank of America from $15.00 to $14.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Bank of America‘s target price would indicate a potential upside of 38.89% from the company’s previous close.

Several other equities research analysts have also weighed in on COTY. DA Davidson dropped their price objective on shares of Coty from $17.50 to $16.50 and set a “buy” rating on the stock in a research note on Tuesday, May 7th. Canaccord Genuity Group assumed coverage on shares of Coty in a research note on Monday, April 15th. They set a “buy” rating and a $14.00 price objective on the stock. TD Cowen dropped their price target on shares of Coty from $16.00 to $13.00 and set a “buy” rating on the stock in a research note on Wednesday, April 17th. Wells Fargo & Company dropped their price target on shares of Coty from $12.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Finally, Citigroup dropped their price target on shares of Coty from $13.00 to $12.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 16th. Eight analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $13.01.

Coty Stock Performance

Shares of COTY stock opened at $10.08 on Wednesday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.50 and a current ratio of 0.80. Coty has a one year low of $9.02 and a one year high of $13.46. The company’s 50-day simple moving average is $10.29 and its 200-day simple moving average is $11.38. The stock has a market capitalization of $8.75 billion, a price-to-earnings ratio of 43.83, a PEG ratio of 3.43 and a beta of 1.91.

Coty (NYSE:COTY) last issued its quarterly earnings results on Monday, May 6th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.01). The company had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.37 billion. Coty had a return on equity of 8.75% and a net margin of 3.59%. The business’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.19 EPS. Equities analysts anticipate that Coty will post 0.44 earnings per share for the current fiscal year.

Institutional Trading of Coty

A number of large investors have recently added to or reduced their stakes in COTY. Neo Ivy Capital Management bought a new stake in Coty during the third quarter worth approximately $280,000. Teachers Retirement System of The State of Kentucky grew its position in Coty by 104.1% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 118,613 shares of the company’s stock worth $1,301,000 after purchasing an additional 60,493 shares in the last quarter. Vanguard Group Inc. grew its position in Coty by 12.1% during the 3rd quarter. Vanguard Group Inc. now owns 39,281,692 shares of the company’s stock worth $430,920,000 after purchasing an additional 4,245,039 shares in the last quarter. Symmetry Partners LLC grew its position in Coty by 69.8% during the 4th quarter. Symmetry Partners LLC now owns 25,345 shares of the company’s stock worth $317,000 after purchasing an additional 10,420 shares in the last quarter. Finally, Compass Wealth Management LLC grew its position in Coty by 6.9% during the 4th quarter. Compass Wealth Management LLC now owns 455,775 shares of the company’s stock worth $5,661,000 after purchasing an additional 29,600 shares in the last quarter. 42.36% of the stock is currently owned by institutional investors.

Coty Company Profile

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.