The Goldman Sachs Group Has Lowered Expectations for Coty (NYSE:COTY) Stock Price

Coty (NYSE:COTY) had its price objective lowered by stock analysts at The Goldman Sachs Group from $6.00 to $4.50 in a research report issued on Friday,Benzinga reports. The firm presently has a “neutral” rating on the stock. The Goldman Sachs Group’s target price points to a potential upside of 14.94% from the company’s current price.

Several other equities research analysts have also recently weighed in on the company. Bank of America reduced their price objective on Coty from $4.00 to $3.50 and set an “underperform” rating on the stock in a research note on Friday. Canaccord Genuity Group cut their target price on Coty from $5.00 to $4.00 and set a “hold” rating on the stock in a research report on Friday. Barclays decreased their price target on Coty from $4.50 to $3.50 and set an “underweight” rating on the stock in a report on Friday. Jefferies Financial Group lowered shares of Coty from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $6.00 to $4.00 in a research note on Thursday. Finally, JPMorgan Chase & Co. cut their price objective on shares of Coty from $6.00 to $5.00 and set a “neutral” rating on the stock in a research report on Thursday, May 8th. Four equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Coty currently has a consensus rating of “Hold” and a consensus price target of $6.34.

Coty Price Performance

Coty stock opened at $3.9150 on Friday. Coty has a 52-week low of $3.75 and a 52-week high of $10.09. The company has a quick ratio of 0.51, a current ratio of 0.77 and a debt-to-equity ratio of 1.06. The firm’s fifty day moving average is $4.86 and its 200 day moving average is $5.14. The company 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.

Coty (NYSE:COTY) last posted its earnings results on Wednesday, August 20th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.06). The business had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.20 billion. Coty had a positive return on equity of 5.18% and a negative net margin of 6.24%.The business’s quarterly revenue was down 8.1% on a year-over-year basis. During the same quarter last year, the firm earned ($0.03) earnings per share. Sell-side analysts forecast that Coty will post 0.39 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Norges Bank purchased a new position in Coty in the 2nd quarter worth about $52,449,000. Man Group plc bought a new position in Coty in the 4th quarter worth about $28,473,000. Squarepoint Ops LLC bought a new position in Coty in the 2nd quarter worth about $15,829,000. AQR Capital Management LLC increased its position in shares of Coty by 456.9% during the first quarter. AQR Capital Management LLC now owns 4,063,070 shares of the company’s stock worth $21,981,000 after acquiring an additional 3,333,511 shares during the period. Finally, Assenagon Asset Management S.A. raised its stake in shares of Coty by 162.2% during the first quarter. Assenagon Asset Management S.A. now owns 4,300,292 shares of the company’s stock valued at $23,523,000 after acquiring an additional 2,660,221 shares in the last quarter. 42.36% of the stock is currently owned by institutional investors.

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.