Coty Inc. (NYSE:COTY) Cut to “Strong Sell” at BidaskClub

BidaskClub downgraded shares of Coty Inc. (NYSE:COTY) from a sell rating to a strong sell rating in a report released on Wednesday morning.

A number of other brokerages also recently issued reports on COTY. J P Morgan Chase & Co initiated coverage on shares of Coty in a report on Tuesday, March 21st. They set an underweight rating and a $16.00 price target for the company. BMO Capital Markets reiterated a buy rating and issued a $24.00 target price on shares of Coty in a report on Tuesday, April 4th. Zacks Investment Research upgraded shares of Coty from a sell rating to a hold rating in a report on Thursday, April 13th. Barclays PLC set a $19.00 price target on shares of Coty and gave the stock a hold rating in a research note on Saturday, May 13th. Finally, Jefferies Group LLC began coverage on shares of Coty in a research note on Friday, June 2nd. They issued a hold rating and a $17.00 price target for the company. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company. The company currently has an average rating of Hold and an average target price of $23.17.

Shares of Coty (COTY) traded up 0.33% during trading on Wednesday, hitting $18.44. The stock had a trading volume of 3,279,799 shares. The firm’s market cap is $13.79 billion. Coty has a 12-month low of $16.95 and a 12-month high of $30.13. The firm has a 50 day moving average price of $19.01 and a 200 day moving average price of $18.71.

Coty (NYSE:COTY) last issued its quarterly earnings results on Wednesday, May 10th. The company reported $0.15 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.04. The firm had revenue of $2.03 million for the quarter, compared to analyst estimates of $1.94 billion. Coty had a negative net margin of 2.29% and a positive return on equity of 9.12%. Coty’s quarterly revenue was down 99.8% compared to the same quarter last year. During the same period last year, the company posted $0.09 EPS. On average, equities analysts expect that Coty will post $0.75 earnings per share for the current fiscal year.

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In other news, insider Greerson Greene Mcmullen acquired 11,300 shares of the business’s stock in a transaction that occurred on Thursday, May 25th. The shares were purchased at an average cost of $18.87 per share, for a total transaction of $213,231.00. Following the transaction, the insider now directly owns 79,307 shares in the company, valued at approximately $1,496,523.09. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Peter Harf acquired 26,500 shares of the business’s stock in a transaction that occurred on Friday, June 16th. The stock was purchased at an average price of $19.00 per share, for a total transaction of $503,500.00. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 188,620 shares of company stock valued at $3,588,363. 16.10% of the stock is owned by company insiders.

Coty Company Profile

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.

Analyst Recommendations for Coty (NYSE:COTY)

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