Coty (NYSE:COTY) Shares Gap Up – Here’s What Happened

Coty Inc. (NYSE:COTY)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $5.54, but opened at $5.77. Coty shares last traded at $5.73, with a volume of 1,143,024 shares traded.

Wall Street Analyst Weigh In

COTY has been the subject of a number of research analyst reports. Barclays dropped their target price on shares of Coty from $7.00 to $6.00 and set an “underweight” rating for the company in a research report on Friday, January 17th. DA Davidson reissued a “buy” rating and issued a $12.50 target price on shares of Coty in a research note on Thursday, February 6th. Wells Fargo & Company reduced their target price 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. Canaccord Genuity Group lowered their price target on Coty from $10.00 to $8.00 and set a “buy” rating for the company in a report on Wednesday, February 12th. Finally, The Goldman Sachs Group reduced their price objective on Coty from $9.00 to $8.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $9.78.

Coty Price Performance

The company has a current ratio of 0.71, a quick ratio of 0.45 and a debt-to-equity ratio of 0.85. The company’s 50-day moving average price is $6.33 and its two-hundred day moving average price is $7.40. The company has a market cap of $4.93 billion, a P/E ratio of -565.50, a P/E/G ratio of 0.81 and a beta of 1.97.

Coty (NYSE:COTY) last announced its quarterly earnings data on Monday, February 10th. The company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.11). Coty had a net margin of 0.22% and a return on equity of 6.34%. As a group, sell-side analysts expect that Coty Inc. will post 0.39 earnings per share for the current year.

Hedge Funds Weigh In On Coty

Hedge funds have recently added to or reduced their stakes in the business. Norges Bank bought a new position in shares of Coty during the fourth quarter worth about $44,401,000. Amundi boosted its position in Coty by 1,990,624.9% during the 4th quarter. Amundi now owns 4,479,131 shares of the company’s stock worth $30,503,000 after acquiring an additional 4,478,906 shares during the period. Man Group plc acquired a new position in shares of Coty during the fourth quarter valued at $28,473,000. Caisse Des Depots ET Consignations bought a new stake in shares of Coty during the fourth quarter valued at about $19,663,000. Finally, Ameriprise Financial Inc. lifted its holdings in Coty by 12.1% in the fourth quarter. Ameriprise Financial Inc. now owns 20,214,382 shares of the company’s stock worth $140,691,000 after purchasing an additional 2,175,120 shares during the period. Institutional investors and hedge funds 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.