Coty Inc. (NYSE:COTY) was upgraded by investment analysts at Bank of America Corp. from a “neutral” rating to a “buy” rating in a note issued to investors on Monday, The Fly reports.
A number of other brokerages also recently issued reports on COTY. B. Riley reissued a “sell” rating and issued a $21.50 price target on shares of Coty in a report on Monday, August 22nd. Zacks Investment Research raised Coty from a “hold” rating to a “strong-buy” rating and set a $33.00 price target for the company in a report on Friday, August 19th. Citigroup Inc. boosted their price target on Coty from $28.00 to $30.00 and gave the company a “neutral” rating in a report on Thursday, August 25th. Deutsche Bank AG reissued a “buy” rating and issued a $32.00 price target on shares of Coty in a report on Thursday, August 18th. Finally, Barclays PLC reissued a “hold” rating on shares of Coty in a report on Saturday, July 9th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Coty has an average rating of “Hold” and an average target price of $27.66.
Coty (NYSE:COTY) opened at 23.50 on Monday. The company has a 50 day moving average of $25.83 and a 200-day moving average of $26.93. The stock has a market capitalization of $7.90 billion, a price-to-earnings ratio of 53.41 and a beta of 0.42. Coty has a 12-month low of $21.48 and a 12-month high of $31.60.
Coty (NYSE:COTY) last issued its earnings results on Tuesday, August 16th. The company reported $0.13 EPS for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.07. The firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.05 billion. Coty had a return on equity of 80.72% and a net margin of 3.61%. Coty’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.08 earnings per share. On average, equities research analysts forecast 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 company’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 directly owns 20,862 shares in the company, valued at approximately $563,691.24. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Cosmetics B.V. Jab bought 225,000 shares of the company’s stock in a transaction on Wednesday, August 3rd. The stock was bought at an average price of $26.94 per share, with a total value of $6,061,500.00. Following the completion of the acquisition, the insider now owns 6,469,861 shares in the company, valued at $174,298,055.34. The disclosure for this purchase can be found here. Corporate insiders own 16.10% of the company’s stock.
A number of hedge funds have recently modified their holdings of COTY. Legal & General Group Plc boosted its stake in shares of Coty by 4.9% in the first quarter. Legal & General Group Plc now owns 4,443 shares of the company’s stock valued at $124,000 after buying an additional 207 shares during the last quarter. Globeflex Capital L P bought a new stake in shares of Coty during the second quarter valued at about $156,000. FDx Advisors Inc. bought a new stake in shares of Coty during the second quarter valued at about $205,000. BlackRock Inc. boosted its stake in shares of Coty by 324.8% in the first quarter. BlackRock Inc. now owns 8,696 shares of the company’s stock valued at $242,000 after buying an additional 6,649 shares during the last quarter. Finally, Stifel Financial Corp boosted its stake in shares of Coty by 2.3% in the second quarter. Stifel Financial Corp now owns 9,405 shares of the company’s stock valued at $245,000 after buying an additional 212 shares during the last quarter. Institutional investors own 17.44% of the company’s stock.
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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