Coty (NYSE:COTY) Reaches New 12-Month Low After Analyst Downgrade

Shares of Coty Inc. (NYSE:COTY) reached a new 52-week low on Tuesday after Stifel Nicolaus lowered their price target on the stock from $11.00 to $10.00. Stifel Nicolaus currently has a hold rating on the stock. Coty traded as low as $8.18 and last traded at $8.19, with a volume of 2025392 shares trading hands. The stock had previously closed at $9.17.

A number of other equities analysts have also recently issued reports on the company. Barclays dropped their price objective on Coty from $11.00 to $10.00 and set an “equal weight” rating for the company in a report on Thursday, August 22nd. DA Davidson upped their price target on shares of Coty from $16.50 to $17.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Piper Sandler decreased their price objective on shares of Coty from $15.00 to $13.00 and set an “overweight” rating for the company in a report on Thursday, July 11th. Bank of America lowered their price objective on shares of Coty from $15.00 to $14.00 and set a “buy” rating for the company in a research report on Wednesday, July 10th. Finally, Citigroup reduced their target price on shares of Coty from $10.50 to $10.00 and set a “neutral” rating on the stock in a research report on Monday. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $12.80.

Hedge Funds Weigh In On Coty

A number of large investors have recently added to or reduced their stakes in the company. Covea Finance raised its stake in Coty by 52.2% in the third quarter. Covea Finance now owns 175,000 shares of the company’s stock valued at $1,643,000 after buying an additional 60,000 shares during the last quarter. Fulton Bank N.A. grew its holdings in shares of Coty by 16.1% during the third quarter. Fulton Bank N.A. now owns 26,214 shares of the company’s stock valued at $246,000 after buying an additional 3,636 shares during the last quarter. Handelsbanken Fonder AB increased its position in shares of Coty by 24.3% in the 3rd quarter. Handelsbanken Fonder AB now owns 113,900 shares of the company’s stock valued at $1,070,000 after acquiring an additional 22,300 shares during the period. SG Americas Securities LLC raised its stake in Coty by 1,798.5% in the 3rd quarter. SG Americas Securities LLC now owns 1,847,328 shares of the company’s stock worth $17,346,000 after acquiring an additional 1,750,021 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Coty during the 2nd quarter worth about $153,000. 42.36% of the stock is currently owned by institutional investors.

Coty Trading Down 10.8 %

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 stock has a 50-day simple moving average of $9.28 and a 200 day simple moving average of $10.05. The company has a market cap of $7.10 billion, a price-to-earnings ratio of 36.04, a PEG ratio of 0.67 and a beta of 1.89.

Coty (NYSE:COTY) last issued its quarterly earnings results on Tuesday, August 20th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.07). Coty had a return on equity of 8.05% and a net margin of 1.46%. The business had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same quarter last year, the company posted $0.01 EPS. Coty’s quarterly revenue was up .9% compared to the same quarter last year. As a group, equities research analysts predict that Coty Inc. will post 0.56 EPS for the current fiscal year.

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.