Coty’s (COTY) “Buy” Rating Reaffirmed at Canaccord Genuity Group

Coty (NYSE:COTY)‘s stock had its “buy” rating reiterated by Canaccord Genuity Group in a research report issued to clients and investors on Friday, Benzinga reports. They currently have a $14.00 price objective on the stock. Canaccord Genuity Group’s price target suggests a potential upside of 54.53% from the company’s previous close.

Several other research firms have also issued reports on COTY. Piper Sandler reduced their target price on Coty from $15.00 to $13.00 and set an “overweight” rating for the company in a report on Thursday, July 11th. Citigroup reduced their target price on Coty from $12.00 to $11.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Evercore ISI reiterated an “outperform” rating and set a $15.00 target price on shares of Coty in a report on Wednesday, August 21st. DA Davidson raised their price objective on shares of Coty from $16.50 to $17.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Finally, Bank of America lowered their target price on shares of Coty from $15.00 to $14.00 and set a “buy” rating for the company in a report on Wednesday, July 10th. Eight research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $12.85.

Coty Stock Up 1.6 %

Shares of COTY stock traded up $0.14 on Friday, hitting $9.06. 2,666,982 shares of the stock were exchanged, compared to its average volume of 3,924,738. The company has a current ratio of 0.75, a quick ratio of 0.46 and a debt-to-equity ratio of 0.96. The firm has a market capitalization of $7.86 billion, a P/E ratio of 39.39, a price-to-earnings-growth ratio of 0.66 and a beta of 1.89. The business has a 50-day moving average of $9.58 and a 200 day moving average of $10.57. Coty has a fifty-two week low of $8.66 and a fifty-two week high of $13.30.

Coty (NYSE:COTY) last released its quarterly earnings data on Tuesday, August 20th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.07). The business had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.38 billion. Coty had a net margin of 1.46% and a return on equity of 8.05%. Coty’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.01 EPS. Equities analysts anticipate that Coty will post 0.56 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Norges Bank acquired a new stake in Coty during the 4th quarter worth $67,193,000. Point72 Asset Management L.P. increased its holdings in Coty by 789.3% during the 2nd quarter. Point72 Asset Management L.P. now owns 5,582,064 shares of the company’s stock valued at $55,932,000 after acquiring an additional 4,954,362 shares in the last quarter. Sea Cliff Partners Management LP purchased a new stake in shares of Coty during the fourth quarter worth about $24,803,000. Assenagon Asset Management S.A. grew its holdings in shares of Coty by 733.0% during the second quarter. Assenagon Asset Management S.A. now owns 1,900,000 shares of the company’s stock worth $19,038,000 after buying an additional 1,671,897 shares in the last quarter. Finally, Prevatt Capital Ltd acquired a new stake in shares of Coty in the fourth quarter worth approximately $19,251,000. Institutional investors and hedge funds 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.