Wells Fargo & Company Cuts Coty (NYSE:COTY) Price Target to $7.00

Coty (NYSE:COTY) had its price objective lowered by Wells Fargo & Company from $9.00 to $7.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Other analysts have also recently issued research reports about the stock. The Goldman Sachs Group began coverage on shares of Coty in a report on Friday, December 13th. They issued a “neutral” rating and a $9.00 price target on the stock. Canaccord Genuity Group reaffirmed a “buy” rating and set a $14.00 target price on shares of Coty in a research note on Tuesday, October 15th. Jefferies Financial Group decreased their price target on shares of Coty from $12.00 to $11.00 and set a “buy” rating for the company in a research note on Wednesday, October 16th. Raymond James reduced their target price on Coty from $13.00 to $11.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $14.00 target price on shares of Coty in a research note on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $11.29.

Coty Price Performance

COTY stock opened at $6.96 on Tuesday. The company has a current ratio of 0.85, a quick ratio of 0.55 and a debt-to-equity ratio of 0.93. The firm’s 50-day moving average price is $7.31 and its two-hundred day moving average price is $8.62. The stock has a market capitalization of $6.05 billion, a price-to-earnings ratio of 40.94, a PEG ratio of 0.75 and a beta of 1.89. Coty has a 12-month low of $6.72 and a 12-month high of $13.30.

Coty (NYSE:COTY) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.04). Coty had a net margin of 2.78% and a return on equity of 9.16%. The business had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.67 billion. During the same period in the previous year, the company earned $0.09 EPS. The company’s revenue for the quarter was up 1.8% on a year-over-year basis. As a group, equities analysts predict that Coty will post 0.51 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Blue Trust Inc. grew its holdings in shares of Coty by 330.3% during the third quarter. Blue Trust Inc. now owns 3,107 shares of the company’s stock valued at $31,000 after buying an additional 2,385 shares during the last quarter. Virtu Financial LLC purchased a new stake in Coty during the 3rd quarter valued at $96,000. Capstone Investment Advisors LLC purchased a new stake in Coty during the 3rd quarter valued at $109,000. Quadrature Capital Ltd bought a new stake in shares of Coty in the 3rd quarter worth $124,000. Finally, American Century Companies Inc. raised its stake in shares of Coty by 10.6% in the second quarter. American Century Companies Inc. now owns 14,746 shares of the company’s stock worth $148,000 after purchasing an additional 1,414 shares during the last quarter. 42.36% of the stock is owned by hedge funds and other institutional investors.

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.