Wells Fargo & Company Cuts Coty (NYSE:COTY) Price Target to $11.00

Coty (NYSE:COTY) had its price objective lowered by Wells Fargo & Company from $12.00 to $11.00 in a research report sent to investors on Wednesday, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

Other analysts have also issued research reports about the stock. Citigroup dropped their price objective on shares of Coty from $13.00 to $12.00 and set a neutral rating for the company in a report on Tuesday, April 16th. DA Davidson dropped their price objective on shares of Coty from $17.50 to $16.50 and set a buy rating for the company in a report on Tuesday, May 7th. Canaccord Genuity Group initiated coverage on shares of Coty in a report on Monday, April 15th. They set a buy rating and a $14.00 price objective for the company. Barclays dropped their price objective on shares of Coty from $13.00 to $12.00 and set an equal weight rating for the company in a report on Friday, April 12th. Finally, TD Cowen dropped their price objective on shares of Coty from $16.00 to $13.00 and set a buy rating for the company in a report on Wednesday, April 17th. Eight investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $13.01.

Coty Stock Performance

NYSE:COTY opened at $10.44 on Wednesday. Coty has a 12-month low of $9.02 and a 12-month high of $13.30. The company has a quick ratio of 0.50, a current ratio of 0.80 and a debt-to-equity ratio of 0.93. The firm has a market capitalization of $9.06 billion, a PE ratio of 45.39, a price-to-earnings-growth ratio of 3.40 and a beta of 1.91. The firm has a 50-day moving average price of $10.27 and a 200 day moving average price of $11.37.

Coty (NYSE:COTY) last posted its quarterly earnings results on Monday, May 6th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.01). Coty had a return on equity of 8.75% and a net margin of 3.59%. The business had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.37 billion. During the same period last year, the company earned $0.19 EPS. The business’s revenue for the quarter was up 7.5% on a year-over-year basis. Research analysts anticipate that Coty will post 0.44 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Coty

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in shares of Coty by 12.1% during the third quarter. Vanguard Group Inc. now owns 39,281,692 shares of the company’s stock worth $430,920,000 after purchasing an additional 4,245,039 shares in the last quarter. Ranger Investment Management L.P. boosted its position in shares of Coty by 0.5% during the fourth quarter. Ranger Investment Management L.P. now owns 1,623,182 shares of the company’s stock worth $20,160,000 after purchasing an additional 7,910 shares in the last quarter. FIL Ltd boosted its position in shares of Coty by 10.6% during the fourth quarter. FIL Ltd now owns 14,345,501 shares of the company’s stock worth $178,171,000 after purchasing an additional 1,375,857 shares in the last quarter. Nomura Holdings Inc. bought a new position in shares of Coty during the fourth quarter worth $1,533,000. Finally, Great Lakes Advisors LLC bought a new position in shares of Coty during the fourth quarter worth $4,232,000. 42.36% of the stock is owned by 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.