Coty (NYSE:COTY) PT Lowered to $11.00 at Jefferies Financial Group

Coty (NYSE:COTY) had its price target reduced by Jefferies Financial Group from $12.00 to $11.00 in a research report released on Wednesday, Benzinga reports. They currently have a buy rating on the stock.

COTY has been the subject of several other reports. Piper Sandler decreased their target price on Coty from $15.00 to $13.00 and set an “overweight” rating for the company in a research report on Thursday, July 11th. Bank of America decreased their price objective on shares of Coty from $15.00 to $14.00 and set a “buy” rating for the company in a report on Wednesday, July 10th. Canaccord Genuity Group restated a “buy” rating and issued a $14.00 target price on shares of Coty in a research note on Tuesday. Barclays decreased their price target on shares of Coty from $10.00 to $8.00 and set an “equal weight” rating for the company in a research note on Wednesday. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $14.00 price objective on shares of Coty in a research note on Tuesday. Seven investment 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, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $12.15.

Coty Price Performance

Coty stock opened at $7.99 on Wednesday. The firm has a market capitalization of $6.93 billion, a PE ratio of 34.72, a price-to-earnings-growth ratio of 0.67 and a beta of 1.89. Coty has a 12-month low of $7.95 and a 12-month high of $13.30. The firm has a 50-day moving average price of $9.23 and a 200-day moving average price of $10.01. The company has a current ratio of 0.75, a quick ratio of 0.46 and a debt-to-equity ratio of 0.96.

Coty (NYSE:COTY) last announced its 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). Coty had a net margin of 1.46% and a return on equity of 8.05%. The business had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.38 billion. During the same quarter last year, the firm earned $0.01 EPS. The firm’s quarterly revenue was up .9% on a year-over-year basis. As a group, equities research analysts forecast that Coty will post 0.56 EPS for the current year.

Institutional Trading of Coty

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

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.