Coty (NYSE:COTY) Coverage Initiated at Canaccord Genuity Group

Canaccord Genuity Group began coverage on shares of Coty (NYSE:COTY) in a research note released on Monday, MarketBeat Ratings reports. The firm issued a buy rating and a $14.00 price objective on the stock.

Other analysts have also issued reports about the company. Barclays lowered their target price on Coty from $13.00 to $12.00 and set an equal weight rating on the stock in a research note on Friday, April 12th. TheStreet upgraded Coty from a c+ rating to a b- rating in a research note on Thursday, February 8th. Royal Bank of Canada restated an outperform rating and issued a $14.00 target price on shares of Coty in a research note on Friday, February 9th. TD Cowen upgraded Coty from a market perform rating to an outperform rating and boosted their target price for the company from $13.00 to $16.00 in a research note on Thursday, February 22nd. Finally, DA Davidson restated a buy rating and issued a $17.50 target price on shares of Coty in a research note on Monday, April 8th. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of Hold and a consensus price target of $13.19.

Coty Stock Performance

Shares of Coty stock opened at $10.63 on Monday. The business’s fifty day simple moving average is $11.99 and its 200 day simple moving average is $11.48. The firm has a market capitalization of $9.52 billion, a P/E ratio of 30.37, a price-to-earnings-growth ratio of 5.80 and a beta of 1.82. Coty has a 12 month low of $9.02 and a 12 month high of $13.46. The company has a current ratio of 0.85, a quick ratio of 0.58 and a debt-to-equity ratio of 0.80.

Coty (NYSE:COTY) last issued its quarterly earnings results on Wednesday, February 7th. The company reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.05. The business had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.68 billion. Coty had a return on equity of 11.91% and a net margin of 5.39%. Coty’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same period last year, the company posted $0.22 earnings per share. As a group, analysts anticipate that Coty will post 0.45 EPS for the current year.

Insider Buying and Selling

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

Hedge Funds Weigh In On Coty

A number of hedge funds and other institutional investors have recently modified their holdings of COTY. JPMorgan Chase & Co. lifted its stake in shares of Coty by 3.4% in the 1st quarter. JPMorgan Chase & Co. now owns 653,229 shares of the company’s stock valued at $5,872,000 after acquiring an additional 21,444 shares during the last quarter. Raymond James & Associates lifted its stake in shares of Coty by 5.6% in the 1st quarter. Raymond James & Associates now owns 352,441 shares of the company’s stock valued at $3,168,000 after acquiring an additional 18,705 shares during the last quarter. Citigroup Inc. lifted its stake in shares of Coty by 19.2% in the 1st quarter. Citigroup Inc. now owns 166,285 shares of the company’s stock valued at $1,495,000 after acquiring an additional 26,781 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Coty by 12.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 16,652 shares of the company’s stock valued at $150,000 after acquiring an additional 1,816 shares during the last quarter. Finally, MetLife Investment Management LLC lifted its stake in shares of Coty by 36.8% in the 1st quarter. MetLife Investment Management LLC now owns 222,521 shares of the company’s stock valued at $2,000,000 after acquiring an additional 59,897 shares during the last quarter. 42.36% of the stock is currently owned by hedge funds and other institutional investors.

About Coty

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.