Canaccord Genuity Group Issues Pessimistic Forecast for Coty (NYSE:COTY) Stock Price

Coty (NYSE:COTY) had its price target dropped by investment analysts at Canaccord Genuity Group from $5.00 to $4.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a “hold” rating on the stock. Canaccord Genuity Group’s price objective indicates a potential upside of 2.17% from the company’s current price.

A number of other brokerages have also issued reports on COTY. Wells Fargo & Company cut their target price on Coty from $5.00 to $4.00 and set an “equal weight” rating on the stock in a research report on Friday. Jefferies Financial Group cut Coty from a “buy” rating to a “hold” rating and reduced their price objective for the company from $6.00 to $4.00 in a research note on Thursday. Barclays reduced their price objective on Coty from $4.50 to $3.50 and set an “underweight” rating on the stock in a research note on Friday. Citigroup reiterated a “neutral” rating and issued a $4.25 price objective (down from $6.50) on shares of Coty in a research note on Thursday. Finally, The Goldman Sachs Group reduced their price objective on Coty from $8.00 to $6.00 and set a “neutral” rating on the stock in a research note on Thursday, May 8th. Four research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $6.34.

Coty Stock Up 2.8%

Shares of NYSE COTY opened at $3.9150 on Friday. The firm has a market cap of $3.41 billion, a price-to-earnings ratio of -8.90, a PEG ratio of 0.56 and a beta of 2.00. The company has a quick ratio of 0.51, a current ratio of 0.77 and a debt-to-equity ratio of 1.06. Coty has a 52-week low of $3.75 and a 52-week high of $10.09. The business’s 50 day moving average is $4.86 and its two-hundred day moving average is $5.14.

Coty (NYSE:COTY) last announced its earnings results on Wednesday, August 20th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.06). The firm had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.20 billion. Coty had a negative net margin of 6.24% and a positive return on equity of 5.18%. The firm’s revenue for the quarter was down 8.1% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.03) EPS. Research analysts predict that Coty will post 0.39 EPS for the current year.

Hedge Funds Weigh In On Coty

Several large investors have recently bought and sold shares of COTY. GAMMA Investing LLC increased its holdings in Coty by 140.2% in the first quarter. GAMMA Investing LLC now owns 5,506 shares of the company’s stock valued at $30,000 after buying an additional 3,214 shares during the last quarter. UMB Bank n.a. increased its holdings in Coty by 137.1% in the second quarter. UMB Bank n.a. now owns 6,851 shares of the company’s stock valued at $32,000 after buying an additional 3,962 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its stake in Coty by 1,006.7% in the first quarter. Caitong International Asset Management Co. Ltd now owns 7,304 shares of the company’s stock valued at $40,000 after acquiring an additional 6,644 shares in the last quarter. Shay Capital LLC acquired a new position in Coty in the second quarter valued at $46,000. Finally, FORA Capital LLC acquired a new position in Coty in the second quarter valued at $47,000. Hedge funds and other institutional investors own 42.36% of the company’s stock.

About Coty

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.