Investors Buy High Volume of Put Options on Coty (NYSE:COTY)

Coty Inc. (NYSE:COTY – Get Rating) was the target of some unusual options trading activity on Monday. Traders bought 14,428 put options on the stock. This represents an increase of 140% compared to the typical daily volume of 6,010 put options.

Analyst Upgrades and Downgrades

COTY has been the topic of several research analyst reports. DA Davidson restated a “buy” rating and set a $13.00 price target on shares of Coty in a report on Wednesday, February 22nd. Deutsche Bank Aktiengesellschaft increased their target price on shares of Coty from $12.00 to $13.00 in a research report on Tuesday, May 2nd. Wells Fargo & Company increased their target price on shares of Coty from $10.00 to $11.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 22nd. Piper Sandler increased their target price on shares of Coty from $14.00 to $15.00 and gave the stock an “overweight” rating in a research report on Thursday, March 23rd. Finally, JPMorgan Chase & Co. increased their target price on shares of Coty from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Monday, February 13th. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $12.39.

Institutional Trading of Coty

Institutional investors have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Coty by 21.2% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 59,340 shares of the company’s stock worth $716,000 after purchasing an additional 10,385 shares in the last quarter. Integrated Advisors Network LLC acquired a new position in Coty in the 1st quarter valued at about $2,156,000. Hardman Johnston Global Advisors LLC grew its stake in Coty by 113.7% in the 1st quarter. Hardman Johnston Global Advisors LLC now owns 2,496,500 shares of the company’s stock valued at $30,108,000 after buying an additional 1,328,210 shares during the last quarter. Ranger Investment Management L.P. acquired a new position in Coty in the 1st quarter valued at about $19,554,000. Finally, Artemis Investment Management LLP acquired a new position in Coty in the 1st quarter valued at about $24,283,000. Institutional investors and hedge funds own 37.10% of the company’s stock.

Coty Stock Performance

Shares of Coty stock opened at $12.11 on Tuesday. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.65 and a quick ratio of 0.41. The firm has a market cap of $10.32 billion, a P/E ratio of 86.50, a P/E/G ratio of 2.13 and a beta of 1.85. The firm has a 50 day simple moving average of $11.68 and a 200 day simple moving average of $9.74. Coty has a fifty-two week low of $5.90 and a fifty-two week high of $12.64.

Coty (NYSE:COTY – Get Rating) last released its earnings results on Wednesday, February 8th. The company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.07. Coty had a net margin of 2.51% and a return on equity of 8.83%. The firm had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same quarter in the previous year, the business earned $0.17 EPS. The business’s quarterly revenue was down 3.5% compared to the same quarter last year. Sell-side analysts predict that Coty will post 0.37 earnings per share for the current fiscal year.

About Coty

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Coty, Inc engages in the manufacture, market, sale, and distribution of branded beauty products. It operates through the following segments: Americas, EMEA, and Asia Pacific. The segments Americas, EMEA, and Asia Pacific focus on prestige fragrances, prestige skin care, prestige cosmetics, mass color cosmetics, mass fragrance, mass skin care and body care.