Canaccord Genuity Group Initiates Coverage on Coty (NYSE:COTY)

Canaccord Genuity Group began coverage on shares of Coty (NYSE:COTY) in a report published on Monday, MarketBeat Ratings reports. The brokerage issued a buy rating and a $14.00 target price on the stock.

Several other research firms also recently issued reports on COTY. Wells Fargo & Company upped their price target on Coty from $11.00 to $12.00 and gave the stock an equal weight rating in a research note on Friday, February 9th. TD Cowen upgraded Coty from a market perform rating to an outperform rating and upped their price target for the stock from $13.00 to $16.00 in a research note on Thursday, February 22nd. DA Davidson reiterated a buy rating and set a $17.50 price target on shares of Coty in a research note on Monday, April 8th. Barclays decreased their price target on Coty from $13.00 to $12.00 and set an equal weight rating for the company in a research note on Friday. Finally, Royal Bank of Canada reiterated an outperform rating and set a $14.00 price target on shares of Coty in a research note on Friday, February 9th. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average target price of $13.30.

Coty Stock Performance

Shares of COTY stock opened at $10.50 on Monday. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.85 and a quick ratio of 0.58. Coty has a fifty-two week low of $9.02 and a fifty-two week high of $13.46. The stock’s 50-day moving average is $12.01 and its two-hundred day moving average is $11.48. The firm has a market cap of $9.40 billion, a P/E ratio of 30.00, a PEG ratio of 5.81 and a beta of 1.82.

Coty (NYSE:COTY) last issued its earnings results on Wednesday, February 7th. The company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.05. Coty had a return on equity of 11.91% and a net margin of 5.39%. The company had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.68 billion. During the same period in the prior year, the firm posted $0.22 EPS. The business’s revenue was up 13.4% compared to the same quarter last year. Analysts predict that Coty will post 0.45 earnings per share for the current fiscal year.

Insider Transactions at Coty

In other news, Director Robert S. Singer sold 90,000 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $12.56, for a total value of $1,130,400.00. Following the completion of the transaction, the director now directly owns 169,982 shares of the company’s stock, valued at approximately $2,134,973.92. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Robert S. Singer sold 30,000 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $12.70, for a total transaction of $381,000.00. Following the completion of the sale, the director now directly owns 120,000 shares of the company’s stock, valued at approximately $1,524,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert S. Singer sold 90,000 shares of the firm’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $12.56, for a total value of $1,130,400.00. Following the sale, the director now directly owns 169,982 shares of the company’s stock, valued at $2,134,973.92. The disclosure for this sale can be found here. 5.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Coty

Hedge funds and other institutional investors have recently bought and sold shares of the business. BluePath Capital Management LLC acquired a new stake in Coty during the 3rd quarter valued at $29,000. DekaBank Deutsche Girozentrale acquired a new stake in Coty during the 3rd quarter valued at $31,000. Atlas Capital Advisors LLC acquired a new stake in Coty during the 2nd quarter valued at $37,000. Coppell Advisory Solutions LLC acquired a new stake in Coty during the 2nd quarter valued at $47,000. Finally, US Bancorp DE increased its holdings in Coty by 59.8% during the 4th quarter. US Bancorp DE now owns 5,950 shares of the company’s stock valued at $74,000 after purchasing an additional 2,226 shares in the last quarter. 42.36% of the stock is owned by institutional investors and hedge funds.

Coty Company Profile

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.