Coty (NYSE:COTY) Trading Down 1.3% Following Analyst Downgrade

Coty Inc. (NYSE:COTY)’s share price dropped 1.3% during mid-day trading on Friday after Barclays lowered their price target on the stock from $11.00 to $10.00. Barclays currently has an equal weight rating on the stock. Coty traded as low as $9.85 and last traded at $9.89. Approximately 798,234 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 3,955,333 shares. The stock had previously closed at $10.02.

Several other brokerages have also issued reports on COTY. Evercore ISI reiterated an “outperform” rating and issued a $15.00 price target on shares of Coty in a research note on Wednesday. Piper Sandler dropped their price objective on shares of Coty from $15.00 to $13.00 and set an “overweight” rating on the stock in a research report on Thursday, July 11th. Wells Fargo & Company decreased their price objective on Coty from $12.00 to $11.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 10th. Stifel Nicolaus decreased their target price on shares of Coty from $12.00 to $11.00 and set a “hold” rating on the stock in a research report on Wednesday. Finally, DA Davidson upped their price objective on shares of Coty from $16.50 to $17.00 and gave the stock a “buy” rating in a research report on Wednesday. Eight equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $12.85.

Institutional Investors Weigh In On Coty

A number of institutional investors have recently made changes to their positions in COTY. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Coty by 15.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 86,053 shares of the company’s stock valued at $1,069,000 after buying an additional 11,700 shares during the period. Federated Hermes Inc. lifted its stake in Coty by 4.2% in the fourth quarter. Federated Hermes Inc. now owns 46,244 shares of the company’s stock valued at $574,000 after purchasing an additional 1,871 shares during the last quarter. Xponance Inc. grew its stake in shares of Coty by 4.9% during the 4th quarter. Xponance Inc. now owns 44,920 shares of the company’s stock worth $558,000 after acquiring an additional 2,105 shares during the period. California Public Employees Retirement System boosted its position in Coty by 0.5% during the fourth quarter. California Public Employees Retirement System now owns 657,066 shares of the company’s stock worth $8,161,000 after purchasing an additional 3,146 shares during the period. Finally, Yousif Capital Management LLC boosted its holdings in Coty by 6.7% in the 4th quarter. Yousif Capital Management LLC now owns 177,255 shares of the company’s stock worth $2,202,000 after buying an additional 11,075 shares during the period. Institutional investors own 42.36% of the company’s stock.

Coty Stock Performance

The company has a quick ratio of 0.50, a current ratio of 0.80 and a debt-to-equity ratio of 0.93. The company has a market capitalization of $8.64 billion, a PE ratio of 43.28, a PEG ratio of 3.31 and a beta of 1.91. The company has a 50-day moving average price of $9.76 and a two-hundred day moving average price of $10.85.

Coty (NYSE:COTY) last announced its quarterly earnings results on Tuesday, August 20th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.07). Coty had a net margin of 3.59% and a return on equity of 8.75%. The company had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.38 billion. During the same quarter in the prior year, the company earned $0.01 earnings per share. The company’s quarterly revenue was up .9% on a year-over-year basis. Analysts predict that Coty Inc. will post 0.44 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.