Coty Inc. (NYSE:COTY) Sees Significant Increase in Short Interest

Coty Inc. (NYSE:COTY) was the target of a large increase in short interest in September. As of September 30th, there was short interest totalling 15,470,000 shares, an increase of 13.1% from the September 15th total of 13,680,000 shares. Currently, 4.3% of the company’s stock are short sold. Based on an average daily volume of 3,970,000 shares, the days-to-cover ratio is presently 3.9 days.

Institutional Investors Weigh In On Coty

Institutional investors have recently modified their holdings of the stock. Quent Capital LLC raised its holdings in shares of Coty by 1,448.8% in the second quarter. Quent Capital LLC now owns 5,142 shares of the company’s stock worth $52,000 after buying an additional 4,810 shares during the period. WealthShield Partners LLC acquired a new stake in shares of Coty in the 2nd quarter worth $100,000. Fifth Third Wealth Advisors LLC acquired a new stake in shares of Coty in the 2nd quarter worth $107,000. Envestnet Portfolio Solutions Inc. lifted its position in Coty by 9.8% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 12,388 shares of the company’s stock worth $124,000 after acquiring an additional 1,104 shares during the period. Finally, EntryPoint Capital LLC lifted its position in Coty by 260.4% during the 1st quarter. EntryPoint Capital LLC now owns 11,652 shares of the company’s stock worth $139,000 after acquiring an additional 8,419 shares during the period. 42.36% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on COTY shares. Piper Sandler cut their price objective on Coty from $15.00 to $13.00 and set an “overweight” rating for the company in a report on Thursday, July 11th. 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 report on Wednesday. Royal Bank of Canada reiterated an “outperform” rating and issued a $14.00 target price on shares of Coty in a research report on Tuesday. JPMorgan Chase & Co. cut their price target on Coty from $11.00 to $10.00 and set a “neutral” rating on the stock in a research note on Tuesday. Finally, Barclays dropped their price target on Coty from $10.00 to $8.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Seven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, Coty currently has an average rating of “Moderate Buy” and an average price target of $12.15.

Coty Stock Performance

Shares of COTY opened at $7.99 on Thursday. The firm 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. 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 business has a fifty day moving average of $9.23 and a 200 day moving average of $10.01. Coty has a one year low of $7.95 and a one year high of $13.30.

Coty (NYSE:COTY) last announced its quarterly earnings data on Tuesday, August 20th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.07). Coty had a net margin of 1.46% and a return on equity of 8.05%. The business had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.38 billion. During the same quarter in the previous year, the firm earned $0.01 earnings per share. Coty’s revenue was up .9% on a year-over-year basis. As a group, sell-side analysts anticipate that Coty will post 0.56 EPS for the current 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.