Royal Bank Of Canada Cuts Coty (NYSE:COTY) Price Target to $8.00

Coty (NYSE:COTY) had its price target reduced by Royal Bank Of Canada from $10.00 to $8.00 in a research note published on Monday, MarketBeat.com reports. Royal Bank Of Canada currently has an outperform rating on the stock.

Other equities analysts have also issued reports about the company. Rothschild & Co Redburn set a $3.60 price target on Coty in a report on Tuesday, November 25th. Zacks Research raised Coty from a “strong sell” rating to a “hold” rating in a report on Monday, November 24th. Jefferies Financial Group began coverage on Coty in a report on Wednesday, January 14th. They set a “buy” rating and a $3.50 target price for the company. Morgan Stanley set a $3.50 price target on Coty in a research report on Monday. Finally, Barclays lowered their price target on shares of Coty from $3.00 to $2.50 and set an “underweight” rating on the stock in a report on Monday. Two investment analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, Coty currently has an average rating of “Reduce” and an average price target of $4.51.

Coty Price Performance

NYSE COTY opened at $2.53 on Monday. The company has a quick ratio of 0.52, a current ratio of 0.79 and a debt-to-equity ratio of 0.81. The company has a market cap of $2.21 billion, a PE ratio of -4.07, a price-to-earnings-growth ratio of 0.29 and a beta of 0.95. Coty has a 52 week low of $2.44 and a 52 week high of $6.13. The firm’s 50-day simple moving average is $3.15 and its two-hundred day simple moving average is $3.77.

Coty (NYSE:COTY) last posted its earnings results on Thursday, February 5th. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.04). The business had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.66 billion. Coty had a positive return on equity of 5.38% and a negative net margin of 9.13%.Coty’s revenue for the quarter was up .5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.11 EPS. Research analysts predict that Coty will post 0.39 earnings per share for the current year.

Hedge Funds Weigh In On Coty

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its position in Coty by 5.8% during the fourth quarter. Vanguard Group Inc. now owns 39,903,562 shares of the company’s stock valued at $122,903,000 after acquiring an additional 2,199,420 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Coty by 0.8% in the 2nd quarter. BNP Paribas Financial Markets now owns 34,460,292 shares of the company’s stock valued at $160,240,000 after purchasing an additional 267,261 shares in the last quarter. Credit Agricole S A bought a new position in shares of Coty during the 3rd quarter valued at $63,824,000. Norges Bank bought a new position in shares of Coty during the 4th quarter valued at $41,867,000. Finally, Thrivent Financial for Lutherans raised its position in Coty by 9.1% in the 3rd quarter. Thrivent Financial for Lutherans now owns 8,753,712 shares of the company’s stock worth $35,365,000 after purchasing an additional 727,404 shares during the period. 42.36% of the stock is currently owned by hedge funds and other institutional investors.

About Coty

Coty Inc is a multinational beauty company specializing in the development, manufacturing and marketing of fragrances, color cosmetics and skin and body care products. Established in 1904 by François Coty in Paris, the company has grown through a blend of organic innovation and strategic acquisitions to become one of the leading players in the global beauty industry. Coty’s portfolio encompasses a broad range of consumer and luxury brands, reflecting its commitment to catering to diverse consumer preferences and market segments.

The company’s product offerings span three main divisions: Coty Luxury, Coty Consumer Beauty and Coty Professional Beauty.