DA Davidson Reaffirms “Buy” Rating for Coty (NYSE:COTY)

Coty (NYSE:COTY)‘s stock had its “buy” rating reissued by investment analysts at DA Davidson in a report issued on Monday. They currently have a $17.50 target price on the stock. DA Davidson’s target price suggests a potential upside of 55.83% from the stock’s current price.

Several other research firms have also recently weighed in on COTY. Royal Bank of Canada reissued an “outperform” rating and set a $14.00 price target on shares of Coty in a report on Friday, February 9th. Canaccord Genuity Group initiated coverage on Coty in a report on Monday, April 15th. They set a “buy” rating and a $14.00 price target for the company. Citigroup lowered their price objective on Coty from $13.00 to $12.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 16th. TD Cowen lowered their price objective on Coty from $16.00 to $13.00 and set a “buy” rating on the stock in a research note on Wednesday, April 17th. Finally, Barclays lowered their price objective 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. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $13.19.

Coty Stock Performance

Shares of COTY traded up $0.08 during mid-day trading on Monday, reaching $11.23. The company’s stock had a trading volume of 443,776 shares, compared to its average volume of 3,926,984. Coty has a 1-year low of $9.02 and a 1-year high of $13.46. The stock has a market cap of $10.05 billion, a P/E ratio of 32.14, a PEG ratio of 6.17 and a beta of 1.82. The business has a 50-day simple moving average of $11.93 and a two-hundred day simple moving average of $11.49. 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 released its quarterly earnings data on Wednesday, February 7th. The company reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.05. The company had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.68 billion. Coty had a return on equity of 11.91% and a net margin of 5.39%. The business’s revenue was up 13.4% on a year-over-year basis. During the same period last year, the firm posted $0.22 earnings per share. As a group, equities research analysts anticipate that Coty will post 0.45 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Robert S. Singer sold 30,000 shares of the company’s stock in a transaction that occurred on 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 of the company’s stock, valued at $1,524,000. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director Robert S. Singer sold 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $12.70, for a total value of $381,000.00. Following the transaction, the director now 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 the SEC website. Also, Director Robert S. Singer sold 90,000 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the director now owns 169,982 shares in the company, valued at approximately $2,134,973.92. The disclosure for this sale can be found here. Corporate insiders own 5.80% of the company’s stock.

Hedge Funds Weigh In On Coty

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Coty by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 39,776,331 shares of the company’s stock worth $494,022,000 after buying an additional 494,639 shares in the last quarter. Clearbridge Investments LLC increased its stake in Coty by 0.9% in the fourth quarter. Clearbridge Investments LLC now owns 14,745,121 shares of the company’s stock valued at $183,134,000 after acquiring an additional 136,292 shares during the last quarter. FIL Ltd increased its stake in Coty by 10.6% in the fourth quarter. FIL Ltd now owns 14,345,501 shares of the company’s stock valued at $178,171,000 after acquiring an additional 1,375,857 shares during the last quarter. Ameriprise Financial Inc. increased its stake in Coty by 3.8% in the third quarter. Ameriprise Financial Inc. now owns 11,060,293 shares of the company’s stock valued at $121,331,000 after acquiring an additional 406,769 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Coty by 9.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 8,130,447 shares of the company’s stock valued at $100,985,000 after acquiring an additional 709,238 shares during the last quarter. Hedge funds and other institutional investors own 42.36% of the company’s stock.

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.