Citigroup Trims Coty (NYSE:COTY) Target Price to $11.00

Coty (NYSE:COTY) had its price target reduced by Citigroup from $12.00 to $11.00 in a research note issued to investors on Wednesday, Benzinga reports. Citigroup currently has a neutral rating on the stock.

Several other brokerages have also commented on COTY. Wells Fargo & Company cut their price target on shares of Coty from $12.00 to $11.00 and set an equal weight rating for the company in a report on Wednesday. DA Davidson cut their price target on shares of Coty from $17.50 to $16.50 and set a buy rating for the company in a report on Tuesday, May 7th. Piper Sandler cut their price target on shares of Coty from $15.00 to $13.00 and set an overweight rating for the company in a report on Thursday. TD Cowen cut their price target on shares of Coty from $16.00 to $13.00 and set a buy rating for the company in a report on Wednesday, April 17th. Finally, Canaccord Genuity Group assumed coverage on shares of Coty in a report on Monday, April 15th. They set a buy rating and a $14.00 target price for the company. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $13.01.

Coty Stock Performance

Shares of NYSE COTY opened at $10.44 on Wednesday. The company has a current ratio of 0.80, a quick ratio of 0.50 and a debt-to-equity ratio of 0.93. Coty has a 12 month low of $9.02 and a 12 month high of $13.30. The company has a 50 day simple moving average of $10.27 and a two-hundred day simple moving average of $11.37. The stock has a market cap of $9.06 billion, a price-to-earnings ratio of 45.39, a PEG ratio of 3.40 and a beta of 1.91.

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

Hedge Funds Weigh In On Coty

Several hedge funds have recently added to or reduced their stakes in COTY. Quent Capital LLC increased its stake in Coty by 1,448.8% in the second quarter. Quent Capital LLC now owns 5,142 shares of the company’s stock valued at $52,000 after purchasing an additional 4,810 shares during the last quarter. Fulton Bank N.A. purchased a new position in Coty in the fourth quarter valued at approximately $131,000. EntryPoint Capital LLC increased its stake in Coty by 260.4% in the first quarter. EntryPoint Capital LLC now owns 11,652 shares of the company’s stock valued at $139,000 after purchasing an additional 8,419 shares during the last quarter. Norden Group LLC acquired a new stake in shares of Coty in the first quarter valued at approximately $146,000. Finally, Neo Ivy Capital Management acquired a new stake in shares of Coty in the third quarter valued at approximately $280,000. 42.36% of the stock is currently owned by hedge funds and other 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.