Coty (NYSE:COTY) Reaches New 1-Year Low After Analyst Downgrade

Coty Inc. (NYSE:COTY) shares reached a new 52-week low during mid-day trading on Wednesday after Wells Fargo & Company lowered their price target on the stock from $9.00 to $7.00. Wells Fargo & Company currently has an equal weight rating on the stock. Coty traded as low as $6.69 and last traded at $6.72, with a volume of 280695 shares changing hands. The stock had previously closed at $6.95.

Other equities analysts have also recently issued reports about the stock. TD Cowen cut shares of Coty from a “buy” rating to a “hold” rating and cut their target price for the company from $11.00 to $8.50 in a research note on Wednesday, November 13th. JPMorgan Chase & Co. reduced their target price on shares of Coty from $11.00 to $10.00 and set a “neutral” rating for the company in a research note on Tuesday, October 15th. Deutsche Bank Aktiengesellschaft lowered their price target on Coty from $14.00 to $12.00 and set a “buy” rating on the stock in a research note on Wednesday, October 16th. Barclays downgraded Coty from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $8.00 to $7.00 in a research report on Thursday, November 7th. Finally, Jefferies Financial Group lowered their price objective on Coty from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $11.29.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Victory Capital Management Inc. boosted its stake in Coty by 28.8% in the second quarter. Victory Capital Management Inc. now owns 2,758,597 shares of the company’s stock valued at $27,641,000 after acquiring an additional 616,939 shares during the last quarter. Arizona State Retirement System increased its holdings in Coty by 2.3% in the second quarter. Arizona State Retirement System now owns 112,773 shares of the company’s stock valued at $1,130,000 after purchasing an additional 2,500 shares during the last quarter. Private Advisor Group LLC lifted its stake in Coty by 23.3% in the second quarter. Private Advisor Group LLC now owns 119,596 shares of the company’s stock valued at $1,198,000 after buying an additional 22,603 shares during the period. Choreo LLC bought a new position in Coty during the second quarter worth about $225,000. Finally, Texas Permanent School Fund Corp boosted its holdings in Coty by 81.6% during the second quarter. Texas Permanent School Fund Corp now owns 597,593 shares of the company’s stock worth $5,988,000 after buying an additional 268,547 shares during the last quarter. Institutional investors own 42.36% of the company’s stock.

Coty Trading Down 2.0 %

The company has a market capitalization of $5.92 billion, a P/E ratio of 40.06, a PEG ratio of 0.75 and a beta of 1.89. The business has a 50 day moving average price of $7.30 and a 200 day moving average price of $8.59. The company has a current ratio of 0.85, a quick ratio of 0.55 and a debt-to-equity ratio of 0.93.

Coty (NYSE:COTY) last issued its earnings results on Wednesday, November 6th. The company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.04). The firm had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.67 billion. Coty had a net margin of 2.78% and a return on equity of 9.16%. The firm’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.09 EPS. Analysts anticipate that Coty Inc. will post 0.51 EPS for the current year.

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.