Royal Bank of Canada Reaffirms Outperform Rating for Coty (NYSE:COTY)

Coty (NYSE:COTY)‘s stock had its “outperform” rating reissued by equities researchers at Royal Bank of Canada in a research note issued on Wednesday,Benzinga reports. They currently have a $13.00 price target on the stock. Royal Bank of Canada’s price objective indicates a potential upside of 126.32% from the company’s previous close.

COTY has been the topic of a number of other research reports. Canaccord Genuity Group lowered their target price on Coty from $10.00 to $8.00 and set a “buy” rating on the stock in a research note on Wednesday. Morgan Stanley lowered their price objective on Coty from $9.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Stifel Nicolaus cut their target price on shares of Coty from $8.50 to $8.00 and set a “hold” rating for the company in a report on Tuesday. Evercore ISI lowered their price target on shares of Coty from $15.00 to $10.00 and set an “outperform” rating on the stock in a report on Wednesday. Finally, DA Davidson reaffirmed a “buy” rating and issued a $12.50 price objective on shares of Coty in a report on Thursday, February 6th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $10.17.

Coty Stock Performance

Shares of NYSE COTY opened at $5.74 on Wednesday. The company has a 50 day simple moving average of $7.09 and a two-hundred day simple moving average of $8.07. The stock has a market cap of $5.00 billion, a price-to-earnings ratio of 33.79, a PEG ratio of 0.72 and a beta of 1.89. The company has a current ratio of 0.85, a quick ratio of 0.55 and a debt-to-equity ratio of 0.93. Coty has a 12 month low of $5.64 and a 12 month high of $13.30.

Coty (NYSE:COTY) last posted 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 net margin of 2.78% and a return on equity of 9.16%. As a group, analysts predict that Coty will post 0.51 earnings per share for the current year.

Hedge Funds Weigh In On Coty

Several hedge funds and other institutional investors have recently made changes to their positions in COTY. Blue Trust Inc. increased 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 in the last quarter. Steward Partners Investment Advisory LLC grew its holdings in shares of Coty by 317.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,191 shares of the company’s stock worth $29,000 after buying an additional 3,186 shares in the last quarter. Allworth Financial LP raised its position in shares of Coty by 145.0% in the fourth quarter. Allworth Financial LP now owns 5,623 shares of the company’s stock valued at $42,000 after buying an additional 3,328 shares during the last quarter. Quadrant Capital Group LLC lifted its stake in shares of Coty by 55.3% in the fourth quarter. Quadrant Capital Group LLC now owns 7,307 shares of the company’s stock worth $51,000 after buying an additional 2,601 shares in the last quarter. Finally, R Squared Ltd purchased a new position in shares of Coty in the fourth quarter worth about $54,000. Hedge funds and other institutional investors own 42.36% of the company’s stock.

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.