Coty Inc. (NYSE:COTY) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued on Wednesday.
According to Zacks, “Coty Inc. is involved in the manufacturing, marketing and distribution of beauty products. It operates in three segments: Fragrances, Colour Cosmetics and Skin & Body Care. The Company’s brand consists of adidas, Calvin Klein, Chloe, Davidoff, Marc Jacobs, OPI, philosophy, Playboy, Rimmel and Sally Hansen. It sells the products through department stores, specialty retailers, perfumeries and pharmacies, mass-market retailers and duty-free shops in airports and cities and e-commerce channels. Coty Inc. is headquartered in New York. “
Other equities analysts also recently issued reports about the stock. Deutsche Bank AG reissued a “buy” rating on shares of Coty in a report on Tuesday, May 31st. Berenberg Bank initiated coverage on shares of Coty in a report on Friday, September 9th. They issued a “sell” rating and a $23.00 price target on the stock. Bank of America Corp. set a $29.00 price target on shares of Coty and gave the stock a “hold” rating in a report on Wednesday, August 31st. Citigroup Inc. boosted their price target on shares of Coty from $28.00 to $30.00 and gave the stock a “neutral” rating in a report on Thursday, August 25th. Finally, B. Riley reissued a “sell” rating and issued a $21.50 price target on shares of Coty in a report on Monday, August 22nd. Three analysts have rated the stock with a sell rating, five have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Hold” and an average price target of $27.50.
Coty (NYSE:COTY) opened at 23.73 on Wednesday. The firm has a 50-day moving average of $26.59 and a 200 day moving average of $27.10. Coty has a 12-month low of $21.48 and a 12-month high of $31.60. The company has a market capitalization of $7.98 billion, a price-to-earnings ratio of 53.93 and a beta of 0.37.
Coty (NYSE:COTY) last posted its quarterly earnings data on Tuesday, August 16th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.07. The firm had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.05 billion. Coty had a net margin of 3.61% and a return on equity of 80.72%. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.08 EPS. Analysts expect that Coty will post $1.12 EPS for the current fiscal year.
In related news, SVP Sebastien Froidefond sold 3,983 shares of the company’s stock in a transaction that occurred on Monday, July 11th. The shares were sold at an average price of $27.02, for a total value of $107,620.66. Following the transaction, the senior vice president now directly owns 20,862 shares in the company, valued at $563,691.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Cosmetics B.V. Jab acquired 225,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was bought at an average price of $26.94 per share, for a total transaction of $6,061,500.00. Following the completion of the transaction, the insider now owns 6,469,861 shares of the company’s stock, valued at approximately $174,298,055.34. The disclosure for this purchase can be found here. Insiders own 12.40% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Legal & General Group Plc boosted its position in Coty by 4.9% in the first quarter. Legal & General Group Plc now owns 4,443 shares of the company’s stock valued at $124,000 after buying an additional 207 shares during the period. Globeflex Capital L P bought a new position in Coty during the second quarter valued at $156,000. FDx Advisors Inc. bought a new position in Coty during the second quarter valued at $205,000. BlackRock Inc. boosted its position in Coty by 324.8% in the first quarter. BlackRock Inc. now owns 8,696 shares of the company’s stock valued at $242,000 after buying an additional 6,649 shares during the period. Finally, Stifel Financial Corp boosted its position in Coty by 2.3% in the second quarter. Stifel Financial Corp now owns 9,405 shares of the company’s stock valued at $245,000 after buying an additional 212 shares during the period. Institutional investors own 17.44% of the company’s stock.
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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