Coty (NYSE:COTY) Hits New 12-Month Low Following Analyst Downgrade

Coty Inc. (NYSE:COTY)’s stock price hit a new 52-week low during mid-day trading on Thursday after Wells Fargo & Company lowered their price target on the stock from $7.00 to $6.00. Wells Fargo & Company currently has an equal weight rating on the stock. Coty traded as low as $5.20 and last traded at $5.23, with a volume of 1296308 shares traded. The stock had previously closed at $5.65.

Several other equities analysts also recently commented on the company. Royal Bank of Canada reiterated an “outperform” rating and set a $13.00 price target on shares of Coty in a report on Wednesday, February 12th. Morgan Stanley cut their target price on shares of Coty from $9.00 to $7.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 12th. Barclays dropped their price objective on Coty from $6.00 to $5.00 and set an “underweight” rating on the stock in a research note on Thursday, March 27th. Citigroup upgraded Coty from a “neutral” rating to a “buy” rating and increased their target price for the company from $7.00 to $8.00 in a research note on Thursday, March 20th. Finally, Evercore ISI dropped their price target on Coty from $15.00 to $10.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $9.55.

Institutional Investors Weigh In On Coty

Several large investors have recently modified their holdings of COTY. Ameriprise Financial Inc. grew its position in Coty by 12.1% in the fourth quarter. Ameriprise Financial Inc. now owns 20,214,382 shares of the company’s stock valued at $140,691,000 after acquiring an additional 2,175,120 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Coty by 13.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 13,318,685 shares of the company’s stock worth $92,697,000 after purchasing an additional 1,569,315 shares during the last quarter. State Street Corp increased its position in shares of Coty by 2.3% during the 3rd quarter. State Street Corp now owns 11,043,208 shares of the company’s stock worth $103,696,000 after purchasing an additional 251,964 shares in the last quarter. Clearbridge Investments LLC lifted its holdings in Coty by 0.4% during the 4th quarter. Clearbridge Investments LLC now owns 9,824,638 shares of the company’s stock valued at $68,379,000 after purchasing an additional 37,412 shares during the last quarter. Finally, Thrivent Financial for Lutherans lifted its holdings in Coty by 25.5% during the 4th quarter. Thrivent Financial for Lutherans now owns 8,096,912 shares of the company’s stock valued at $56,354,000 after purchasing an additional 1,646,839 shares during the last quarter. 42.36% of the stock is currently owned by institutional investors.

Coty Stock Performance

The stock has a market capitalization of $4.56 billion, a price-to-earnings ratio of -523.50, a price-to-earnings-growth ratio of 0.81 and a beta of 1.97. The stock’s 50-day simple moving average is $6.04 and its 200 day simple moving average is $7.15. The company has a quick ratio of 0.45, a current ratio of 0.71 and a debt-to-equity ratio of 0.85.

Coty (NYSE:COTY) last released its quarterly earnings results on Monday, February 10th. The company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.11). Coty had a return on equity of 6.34% and a net margin of 0.22%. Analysts expect that Coty Inc. will post 0.39 earnings per share for the current fiscal year.

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.