Coty (NYSE:COTY) Stock Crosses Below 200-Day Moving Average – Here’s What Happened

Coty (NYSE:COTY)’s stock price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $3.34 and traded as low as $2.12. Coty shares last traded at $2.1250, with a volume of 10,312,542 shares.

Analyst Upgrades and Downgrades

A number of brokerages have commented on COTY. TD Cowen reduced their target price on Coty from $3.50 to $3.40 and set a “hold” rating for the company in a report on Wednesday, January 21st. Morgan Stanley set a $3.50 price target on Coty in a research report on Monday, February 9th. Canaccord Genuity Group set a $2.50 price objective on Coty in a research note on Monday, February 9th. Santander lowered Coty to a “neutral” rating in a report on Tuesday, December 23rd. Finally, Royal Bank Of Canada lowered their target price on shares of Coty from $10.00 to $8.00 and set an “outperform” rating on the stock in a research note on Monday, February 9th. One research analyst has rated the stock with a Buy rating, seventeen have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Coty has an average rating of “Reduce” and a consensus target price of $4.31.

Coty Trading Down 0.7%

The company has a current ratio of 0.79, a quick ratio of 0.52 and a debt-to-equity ratio of 0.81. The company has a fifty day moving average price of $2.71 and a two-hundred day moving average price of $3.34. The firm has a market capitalization of $1.87 billion, a price-to-earnings ratio of -3.43, a PEG ratio of 0.31 and a beta of 0.96.

Coty (NYSE:COTY) last posted its quarterly earnings results on Thursday, February 5th. The company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.04). Coty had a negative net margin of 9.13% and a positive return on equity of 5.38%. The company had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.66 billion. During the same period in the prior year, the business posted $0.11 EPS. Coty’s revenue for the quarter was up .5% compared to the same quarter last year. As a group, research analysts forecast that Coty will post 0.39 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Bretten Gordon Von purchased 83,000 shares of Coty stock in a transaction dated Friday, March 6th. The shares were acquired at an average price of $2.41 per share, for a total transaction of $200,030.00. Following the acquisition, the insider directly owned 986,620 shares in the company, valued at approximately $2,377,754.20. The trade was a 9.19% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Coty

A number of hedge funds have recently modified their holdings of the company. Hsbc Holdings PLC increased its position in Coty by 2,291.6% during the fourth quarter. Hsbc Holdings PLC now owns 583,366 shares of the company’s stock worth $1,816,000 after purchasing an additional 558,974 shares during the last quarter. Corient Private Wealth LLC acquired a new position in Coty in the 4th quarter valued at about $43,000. Alpine Global Management LLC purchased a new stake in shares of Coty in the 4th quarter valued at approximately $179,000. Virtu Financial LLC grew its stake in shares of Coty by 195.8% in the 4th quarter. Virtu Financial LLC now owns 61,367 shares of the company’s stock valued at $189,000 after buying an additional 40,619 shares during the period. Finally, Invesco Ltd. increased its holdings in shares of Coty by 68.2% during the 4th quarter. Invesco Ltd. now owns 3,848,538 shares of the company’s stock worth $11,853,000 after buying an additional 1,560,387 shares during the last quarter. Hedge funds and other institutional investors own 42.36% of the company’s stock.

About Coty

Coty Inc is a multinational beauty company specializing in the development, manufacturing and marketing of fragrances, color cosmetics and skin and body care products. Established in 1904 by François Coty in Paris, the company has grown through a blend of organic innovation and strategic acquisitions to become one of the leading players in the global beauty industry. Coty’s portfolio encompasses a broad range of consumer and luxury brands, reflecting its commitment to catering to diverse consumer preferences and market segments.

The company’s product offerings span three main divisions: Coty Luxury, Coty Consumer Beauty and Coty Professional Beauty.