Coty Inc. (COTY) Downgraded by Zacks Investment Research to “Hold”

Zacks Investment Research downgraded shares of Coty Inc. (NYSE:COTY) from a strong-buy rating to a hold rating in a report published on Tuesday.

According to Zacks, “Coty Inc. is involved in the manufacturing, marketing and distribution of beauty products. It operates in three segments: Fragrances, Colour Cosmetics and Skin & Body Care. The Company’s brand consists of adidas, Calvin Klein, Chloe, Davidoff, Marc Jacobs, OPI, philosophy, Playboy, Rimmel and Sally Hansen. It sells the products through department stores, specialty retailers, perfumeries and pharmacies, mass-market retailers and duty-free shops in airports and cities and e-commerce channels. Coty Inc. is headquartered in New York. “

A number of other equities research analysts have also commented on the stock. Stifel Nicolaus reissued a buy rating and set a $32.00 price objective on shares of Coty in a report on Tuesday. Barclays PLC reissued an equal weight rating and set a $28.00 price objective on shares of Coty in a report on Monday. B. Riley reissued a neutral rating and set a $23.25 price objective on shares of Coty in a report on Tuesday, October 4th. Bank of America Corp. raised shares of Coty from a neutral rating to a buy rating and set a $28.00 price objective on the stock in a report on Monday, October 3rd. Finally, Berenberg Bank started coverage on shares of Coty in a research note on Friday, September 9th. They issued a sell rating and a $23.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $27.75.

Analyst Recommendations for Coty (NYSE:COTY)

Shares of Coty (NYSE:COTY) opened at 23.43 on Tuesday. The firm has a market cap of $7.87 billion, a price-to-earnings ratio of 53.25 and a beta of 0.41. The stock’s 50 day moving average is $24.25 and its 200-day moving average is $26.61. Coty has a 12-month low of $21.48 and a 12-month high of $31.60.

Coty (NYSE:COTY) last issued its quarterly earnings data on Tuesday, August 16th. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.07. Coty had a net margin of 3.61% and a return on equity of 80.72%. The firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same quarter in the prior year, the firm earned $0.08 EPS. The company’s revenue was up 5.5% on a year-over-year basis. On average, analysts anticipate that Coty will post $1.11 EPS for the current fiscal year.

In related news, major shareholder Cosmetics B.V. Jab bought 75,000 shares of the company’s stock in a transaction on Monday, August 1st. The shares were purchased at an average cost of $26.89 per share, for a total transaction of $2,016,750.00. Following the acquisition, the insider now owns 6,469,861 shares of the company’s stock, valued at approximately $173,974,562.29. The purchase was disclosed in a filing with the SEC, which is available at this link. 16.10% of the stock is currently owned by corporate insiders.

Hedge funds have recently made changes to their positions in the company. FMR LLC increased its stake in shares of Coty by 57.6% in the second quarter. FMR LLC now owns 9,426,789 shares of the company’s stock valued at $245,003,000 after buying an additional 3,446,415 shares during the period. Wellington Management Group LLP increased its stake in shares of Coty by 2,270.5% in the first quarter. Wellington Management Group LLP now owns 7,599,442 shares of the company’s stock valued at $211,492,000 after buying an additional 7,278,863 shares during the period. Aristotle Capital Management LLC increased its stake in shares of Coty by 1.5% in the second quarter. Aristotle Capital Management LLC now owns 4,569,616 shares of the company’s stock valued at $118,764,000 after buying an additional 67,706 shares during the period. Vanguard Group Inc. increased its stake in shares of Coty by 2.0% in the second quarter. Vanguard Group Inc. now owns 3,946,976 shares of the company’s stock valued at $102,582,000 after buying an additional 75,688 shares during the period. Finally, Lord Abbett & CO. LLC increased its stake in shares of Coty by 11.0% in the second quarter. Lord Abbett & CO. LLC now owns 801,671 shares of the company’s stock valued at $20,835,000 after buying an additional 79,610 shares during the period. Hedge funds and other institutional investors own 17.50% of the company’s stock.

About Coty

Coty Inc is a beauty company. The Company operates through four segments: Fragrances, Color Cosmetics, Skin & Body Care and Brazil Acquisition. Its fragrance products include a range of men’s and women’s products. Its fragrance brands include Calvin Klein, Marc Jacobs, Davidoff, Chloe, Balenciaga, Beyonce, Bottega Veneta, Miu Miu and Roberto Cavalli.

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