Coty (NYSE:COTY) Price Target Cut to $8.00 by Analysts at Canaccord Genuity Group

Coty (NYSE:COTY) had its target price cut by analysts at Canaccord Genuity Group from $10.00 to $8.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective would suggest a potential upside of 29.68% from the company’s current price.

COTY has been the topic of several other research reports. The Goldman Sachs Group initiated coverage on shares of Coty in a research note on Friday, December 13th. They issued a “neutral” rating and a $9.00 price objective on the stock. Wells Fargo & Company reduced their price target on shares of Coty from $9.00 to $7.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Barclays dropped their price objective on Coty from $7.00 to $6.00 and set an “underweight” rating on the stock in a research report on Friday, January 17th. Jefferies Financial Group decreased their price target on shares of Coty from $12.00 to $11.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. Finally, Stifel Nicolaus cut their price objective on shares of Coty from $8.50 to $8.00 and set a “hold” rating on the stock in a research report on Tuesday. One analyst has rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $10.56.

Coty Trading Down 8.9 %

Shares of Coty stock opened at $6.17 on Wednesday. The company has a market cap of $5.37 billion, a P/E ratio of 36.29, a price-to-earnings-growth ratio of 0.72 and a beta of 1.89. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.55 and a current ratio of 0.85. Coty has a fifty-two week low of $6.13 and a fifty-two week high of $13.30. The firm has a 50-day simple moving average of $7.16 and a two-hundred day simple moving average of $8.11.

Coty (NYSE:COTY) last issued its earnings results on Monday, February 10th. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.11). Coty had a return on equity of 9.16% and a net margin of 2.78%. As a group, equities analysts predict that Coty will post 0.51 earnings per share for the current fiscal year.

Institutional Trading of Coty

Hedge funds have recently made changes to their positions in the stock. Steward Partners Investment Advisory LLC boosted its stake in Coty by 317.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,191 shares of the company’s stock valued at $29,000 after acquiring an additional 3,186 shares during the last quarter. Blue Trust Inc. lifted its position in shares of Coty by 330.3% during the third quarter. Blue Trust Inc. now owns 3,107 shares of the company’s stock worth $31,000 after purchasing an additional 2,385 shares during the last quarter. Allworth Financial LP grew its stake in Coty by 145.0% in the fourth quarter. Allworth Financial LP now owns 5,623 shares of the company’s stock worth $42,000 after purchasing an additional 3,328 shares in the last quarter. R Squared Ltd bought a new stake in Coty in the fourth quarter valued at about $54,000. Finally, US Bancorp DE increased its holdings in Coty by 116.0% in the fourth quarter. US Bancorp DE now owns 9,473 shares of the company’s stock valued at $66,000 after buying an additional 5,088 shares during the last quarter. 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.