Coty (NYSE:COTY) Upgraded to Buy at StockNews.com

Coty (NYSE:COTYGet Rating) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a report released on Saturday.

Several other research firms also recently weighed in on COTY. Raymond James decreased their price target on shares of Coty from $13.00 to $12.00 and set an “outperform” rating on the stock in a research note on Monday, April 18th. Barclays decreased their price target on shares of Coty from $10.00 to $8.00 in a research note on Wednesday, May 11th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Coty from $12.00 to $11.00 in a research note on Tuesday, May 10th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Coty from $10.00 to $8.00 in a research note on Tuesday, May 10th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $11.05.

Shares of Coty stock opened at $7.08 on Friday. The firm has a market capitalization of $5.94 billion, a price-to-earnings ratio of 47.20 and a beta of 2.37. Coty has a 12-month low of $5.90 and a 12-month high of $11.12. The firm’s 50 day simple moving average is $7.87 and its two-hundred day simple moving average is $8.89. The company has a current ratio of 0.69, a quick ratio of 0.49 and a debt-to-equity ratio of 1.14.

Coty (NYSE:COTYGet Rating) last announced its quarterly earnings results on Monday, May 9th. The company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.02. Coty had a net margin of 3.93% and a return on equity of 6.85%. The firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.15 billion. Coty’s revenue for the quarter was up 15.4% compared to the same quarter last year. On average, sell-side analysts predict that Coty will post 0.27 EPS for the current fiscal year.

In related news, Director Olivier Goudet purchased 100,000 shares of the company’s stock in a transaction on Tuesday, May 17th. The stock was acquired at an average cost of $6.45 per share, for a total transaction of $645,000.00. Following the completion of the transaction, the director now directly owns 739,129 shares in the company, valued at $4,767,382.05. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Beatrice Ballini purchased 7,000 shares of the company’s stock in a transaction on Thursday, March 10th. The shares were bought at an average price of $7.87 per share, with a total value of $55,090.00. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 137,692 shares of company stock valued at $935,907. Company insiders own 3.10% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. increased its position in shares of Coty by 20.0% during the first quarter. BlackRock Inc. now owns 46,632,257 shares of the company’s stock valued at $419,223,000 after acquiring an additional 7,760,564 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Coty by 13.3% in the first quarter. Vanguard Group Inc. now owns 34,950,784 shares of the company’s stock valued at $314,208,000 after purchasing an additional 4,092,581 shares during the period. Clearbridge Investments LLC boosted its stake in shares of Coty by 123.3% in the first quarter. Clearbridge Investments LLC now owns 16,862,950 shares of the company’s stock valued at $151,598,000 after purchasing an additional 9,311,527 shares during the period. Segall Bryant & Hamill LLC boosted its stake in shares of Coty by 0.7% in the fourth quarter. Segall Bryant & Hamill LLC now owns 14,993,661 shares of the company’s stock valued at $157,436,000 after purchasing an additional 108,752 shares during the period. Finally, Point72 Asset Management L.P. boosted its stake in shares of Coty by 1,019.2% in the third quarter. Point72 Asset Management L.P. now owns 11,683,300 shares of the company’s stock valued at $91,831,000 after purchasing an additional 10,639,425 shares during the period. Institutional investors and hedge funds own 37.60% of the company’s stock.

Coty Company Profile (Get Rating)

Coty Inc, together with its subsidiaries, engages in the manufacture, marketing, distribution, and sale of beauty products worldwide. The company provides prestige fragrances, skin care, and color cosmetics products through prestige retailers, including perfumeries, department stores, e-retailers, direct-to-consumer websites, and duty-free shops under the Alexander McQueen, Burberry, Bottega Veneta, Calvin Klein, Cavalli, Chloe, Davidoff, Escada, Gucci, Hugo Boss, Jil Sander, Joop!, Kylie Jenner, Lacoste, Lancaster, Marc Jacobs, Miu Miu, Nikos, philosophy, Kim Kardashian West, and Tiffany & Co brands.

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