Canaccord Genuity Group Initiates Coverage on Coty (NYSE:COTY)

Investment analysts at Canaccord Genuity Group started coverage on shares of Coty (NYSE:COTY) in a report released on Monday, Briefing.com reports. The brokerage set a “buy” rating and a $14.00 price target on the stock. Canaccord Genuity Group’s price target points to a potential upside of 29.27% from the stock’s previous close.

COTY has been the topic of several other research reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $14.00 price target on shares of Coty in a report on Friday, February 9th. Wells Fargo & Company raised their price objective on shares of Coty from $11.00 to $12.00 and gave the stock an “equal weight” rating in a research note on Friday, February 9th. DA Davidson reaffirmed a “buy” rating and set a $17.50 price objective on shares of Coty in a research note on Monday, April 8th. TD Cowen raised shares of Coty from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $13.00 to $16.00 in a research note on Thursday, February 22nd. Finally, Canaccord Genuity Group started coverage on shares of Coty in a research note on Monday. They set a “buy” rating and a $14.00 price objective on the stock. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Coty currently has a consensus rating of “Hold” and a consensus price target of $13.36.

Coty Price Performance

Shares of NYSE:COTY opened at $10.83 on Monday. Coty has a twelve month low of $9.02 and a twelve month high of $13.46. The company’s 50 day moving average is $12.01 and its 200 day moving average is $11.48. The company has a current ratio of 0.85, a quick ratio of 0.58 and a debt-to-equity ratio of 0.80. The company has a market cap of $9.69 billion, a PE ratio of 30.94, a price-to-earnings-growth ratio of 5.81 and a beta of 1.82.

Coty (NYSE:COTY) last issued its quarterly earnings results on Wednesday, February 7th. The company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.05. Coty had a net margin of 5.39% and a return on equity of 11.91%. The company had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter in the prior year, the company earned $0.22 EPS. Coty’s quarterly revenue was up 13.4% on a year-over-year basis. On average, sell-side analysts forecast that Coty will post 0.45 EPS for the current year.

Insiders Place Their Bets

In other news, Director Robert S. Singer sold 90,000 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $12.56, for a total value of $1,130,400.00. Following the transaction, the director now directly owns 169,982 shares of the company’s stock, valued at $2,134,973.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Robert S. Singer sold 90,000 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $12.56, for a total transaction of $1,130,400.00. Following the transaction, the director now directly owns 169,982 shares in the company, valued at $2,134,973.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert S. Singer sold 30,000 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $12.70, for a total transaction of $381,000.00. Following the transaction, the director now owns 120,000 shares in the company, valued at $1,524,000. The disclosure for this sale can be found here. 5.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Coty

A number of institutional investors and hedge funds have recently bought and sold shares of COTY. Comerica Bank acquired a new position in Coty in the 2nd quarter valued at about $150,000. BluePath Capital Management LLC acquired a new position in Coty in the 3rd quarter valued at about $29,000. DekaBank Deutsche Girozentrale acquired a new position in Coty in the 3rd quarter valued at about $31,000. Atlas Capital Advisors LLC acquired a new position in Coty in the 2nd quarter valued at about $37,000. Finally, Coppell Advisory Solutions LLC acquired a new position in Coty in the 2nd quarter valued at about $47,000. 42.36% of the stock is currently owned by institutional investors and hedge funds.

Coty Company Profile

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.