Coty (NYSE:COTY) Receives New Coverage from Analysts at Canaccord Genuity Group

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

Several other equities research analysts have also commented on the stock. Royal Bank of Canada restated an outperform rating and issued a $14.00 price target on shares of Coty in a research note on Friday, February 9th. Canaccord Genuity Group initiated coverage on shares of Coty in a research note on Monday. They set a buy rating and a $14.00 price objective on the stock. TheStreet upgraded shares of Coty from a c+ rating to a b- rating in a research note on Thursday, February 8th. TD Cowen upgraded shares of Coty from a market perform rating to an outperform rating and raised their price objective for the company from $13.00 to $16.00 in a research note on Thursday, February 22nd. Finally, Barclays lowered their price objective on shares of Coty from $13.00 to $12.00 and set an equal weight rating on the stock in a research note on Friday. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Hold and an average target price of $13.30.

Coty Price Performance

Shares of NYSE:COTY opened at $10.50 on Monday. The firm’s 50 day moving average is $12.01 and its two-hundred day moving average is $11.48. Coty has a 52 week low of $9.02 and a 52 week high of $13.46. The firm has a market capitalization of $9.40 billion, a P/E ratio of 30.00, a PEG ratio of 5.81 and a beta of 1.82. The company has a current ratio of 0.85, a quick ratio of 0.58 and a debt-to-equity ratio of 0.80.

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

Insider Buying and Selling

In related news, Director Robert S. Singer sold 90,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 169,982 shares of the company’s stock, valued at approximately $2,134,973.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Robert S. Singer sold 90,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 169,982 shares of the company’s stock, valued at approximately $2,134,973.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert S. Singer sold 30,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now directly owns 120,000 shares of the company’s stock, valued at approximately $1,524,000. The disclosure for this sale can be found here. 5.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Coty

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in Coty by 20.0% in the 1st quarter. BlackRock Inc. now owns 46,632,257 shares of the company’s stock worth $419,223,000 after purchasing an additional 7,760,564 shares during the period. Vanguard Group Inc. boosted its stake in shares of Coty by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 39,776,331 shares of the company’s stock valued at $494,022,000 after buying an additional 494,639 shares during the period. Clearbridge Investments LLC boosted its stake in shares of Coty by 123.3% during the 1st quarter. Clearbridge Investments LLC now owns 16,862,950 shares of the company’s stock valued at $151,598,000 after buying an additional 9,311,527 shares during the period. FIL Ltd boosted its stake in shares of Coty by 10.6% during the 4th quarter. FIL Ltd now owns 14,345,501 shares of the company’s stock valued at $178,171,000 after buying an additional 1,375,857 shares during the period. Finally, Ameriprise Financial Inc. boosted its stake in shares of Coty by 3.8% during the 3rd quarter. Ameriprise Financial Inc. now owns 11,060,293 shares of the company’s stock valued at $121,331,000 after buying an additional 406,769 shares during the period. Institutional investors and hedge funds own 42.36% of the company’s stock.

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.