Coty Inc. (NYSE:COTY) was upgraded by research analysts at B. Riley from a “sell” rating to a “neutral” rating in a report released on Thursday. The brokerage presently has a $23.25 price objective on the stock, up from their prior price objective of $21.50. B. Riley’s price objective points to a potential downside of 1.06% from the stock’s current price.
A number of other equities analysts have also issued reports on the stock. Zacks Investment Research upgraded shares of Coty from a “hold” rating to a “strong-buy” rating and set a $27.00 target price on the stock in a research report on Thursday, September 22nd. Bank of America Corp. set a $29.00 target price on shares of Coty and gave the stock a “hold” rating in a research report on Wednesday, August 31st. Deutsche Bank AG restated a “buy” rating and set a $32.00 target price on shares of Coty in a research report on Thursday, August 18th. Berenberg Bank started coverage on shares of Coty in a research report on Friday, September 9th. They set a “sell” rating and a $23.00 target price on the stock. Finally, Citigroup Inc. raised their target price on shares of Coty from $28.00 to $30.00 and gave the stock a “neutral” rating in a research report on Thursday, August 25th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $27.66.
Coty (NYSE:COTY) opened at 23.50 on Thursday. The firm has a market capitalization of $7.90 billion, a PE ratio of 53.41 and a beta of 0.42. Coty has a 52-week low of $21.48 and a 52-week high of $31.60. The firm’s 50-day moving average is $25.83 and its 200-day moving average is $26.93.
Coty (NYSE:COTY) last announced its earnings results on Tuesday, August 16th. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.07. The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.05 billion. Coty had a net margin of 3.61% and a return on equity of 80.72%. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period last year, the firm posted $0.08 earnings per share. On average, analysts anticipate that Coty will post $1.11 earnings per share for the current year.
In other Coty news, SVP Sebastien Froidefond sold 3,983 shares of the firm’s stock in a transaction on Monday, July 11th. The stock was sold at an average price of $27.02, for a total value of $107,620.66. Following the completion of the sale, the senior vice president now owns 20,862 shares of the company’s stock, valued at $563,691.24. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Cosmetics B.V. Jab bought 175,000 shares of Coty stock in a transaction on Wednesday, August 31st. The stock was acquired at an average cost of $27.13 per share, with a total value of $4,747,750.00. Following the acquisition, the insider now owns 8,880,671 shares of the company’s stock, valued at approximately $240,932,604.23. The disclosure for this purchase can be found here. 16.10% of the stock is owned by company insiders.
A number of large investors have recently added to or reduced their stakes in COTY. Legal & General Group Plc increased its stake in Coty by 4.9% in the first quarter. Legal & General Group Plc now owns 4,443 shares of the company’s stock worth $124,000 after buying an additional 207 shares during the period. Globeflex Capital L P acquired a new stake in Coty during the second quarter worth approximately $156,000. FDx Advisors Inc. acquired a new stake in Coty during the second quarter worth approximately $205,000. BlackRock Inc. increased its stake in Coty by 324.8% in the first quarter. BlackRock Inc. now owns 8,696 shares of the company’s stock worth $242,000 after buying an additional 6,649 shares during the period. Finally, Stifel Financial Corp increased its stake in Coty by 2.3% in the second quarter. Stifel Financial Corp now owns 9,405 shares of the company’s stock worth $245,000 after buying an additional 212 shares during the period. 17.44% of the stock is owned by institutional investors.
Coty Company Profile
Coty Inc is a beauty company. The Company manufactures and markets beauty products with distribution in over 130 countries and territories across both prestige and mass markets. The Company’s segments include Fragrances, Color Cosmetics, and Skin & Body Care. Its Fragrances products include a range of men’s and women’s products, and also include fashion designer, celebrity and lifestyle brands.
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