Coty Inc. (NYSE:COTY) was upgraded by analysts at B. Riley from a “sell” rating to a “neutral” rating in a research note issued on Thursday. The brokerage presently has a $23.25 price objective on the stock, up from their previous price objective of $21.50. B. Riley’s price objective suggests a potential downside of 2.39% from the company’s current price.
Several other equities analysts have also commented on the stock. Barclays PLC restated a “hold” rating on shares of Coty in a research report on Saturday, July 9th. Zacks Investment Research lowered shares of Coty from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 22nd. Citigroup Inc. upped their price target on shares of Coty from $28.00 to $30.00 and gave the stock a “neutral” rating in a research report on Thursday, August 25th. Deutsche Bank AG restated a “buy” rating and set a $32.00 price target on shares of Coty in a research report on Thursday, August 18th. Finally, Bank of America Corp. set a $29.00 price target on shares of Coty and gave the stock a “hold” rating in a research report on Wednesday, August 31st. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $27.66.
Shares of Coty (NYSE:COTY) opened at 23.82 on Thursday. The firm has a market cap of $8.01 billion, a PE ratio of 54.14 and a beta of 0.37. Coty has a 52 week low of $21.48 and a 52 week high of $31.60. The company has a 50 day moving average of $26.12 and a 200 day moving average of $26.98.
Coty (NYSE:COTY) last released its earnings results on Tuesday, August 16th. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.07. Coty had a net margin of 3.61% and a return on equity of 80.72%. The firm earned $1.08 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same quarter in the previous year, the firm earned $0.08 earnings per share. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. On average, equities research analysts anticipate that Coty will post $1.12 EPS for the current fiscal year.
In other news, major shareholder Cosmetics B.V. Jab acquired 525,000 shares of Coty stock in a transaction on Monday, August 29th. The stock was bought at an average cost of $27.66 per share, with a total value of $14,521,500.00. Following the completion of the purchase, the insider now owns 8,355,671 shares of the company’s stock, valued at $231,117,859.86. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Sebastien Froidefond sold 3,983 shares of the company’s stock in a transaction dated Monday, July 11th. The shares were sold at an average price of $27.02, for a total transaction of $107,620.66. Following the sale, the senior vice president now directly owns 20,862 shares of the company’s stock, valued at $563,691.24. The disclosure for this sale can be found here. Company insiders own 16.10% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the stock. Aperio Group LLC raised its stake in Coty by 23.3% in the first quarter. Aperio Group LLC now owns 42,039 shares of the company’s stock worth $1,170,000 after buying an additional 7,947 shares in the last quarter. Pacad Investment Ltd. purchased a new stake in Coty during the first quarter worth approximately $340,000. Eos Focused Equity Management L.P. purchased a new stake in Coty during the first quarter worth approximately $3,784,000. BlackRock Inc. raised its stake in Coty by 324.8% in the first quarter. BlackRock Inc. now owns 8,696 shares of the company’s stock worth $242,000 after buying an additional 6,649 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Coty by 299.3% in the first quarter. JPMorgan Chase & Co. now owns 259,325 shares of the company’s stock worth $7,217,000 after buying an additional 194,373 shares in the last quarter. 17.44% of the stock is owned by institutional investors.
Coty Company Profile
Coty Inc is a beauty company. The Company manufactures and markets beauty products with distribution in over 130 countries and territories across both prestige and mass markets. The Company’s segments include Fragrances, Color Cosmetics, and Skin & Body Care. Its Fragrances products include a range of men’s and women’s products, and also include fashion designer, celebrity and lifestyle brands.
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