Coty’s (COTY) Buy Rating Reaffirmed at Canaccord Genuity Group

Canaccord Genuity Group reaffirmed their buy rating on shares of Coty (NYSE:COTY) in a research report released on Tuesday morning, Benzinga reports. They currently have a $14.00 target price on the stock.

Other analysts have also issued research reports about the stock. Piper Sandler decreased their target price on shares of Coty from $15.00 to $13.00 and set an overweight rating on the stock in a research report on Thursday, July 11th. Evercore ISI restated an outperform rating and set a $15.00 price objective on shares of Coty in a report on Wednesday, August 21st. Stifel Nicolaus dropped their target price on Coty from $11.00 to $10.00 and set a hold rating for the company in a research note on Tuesday. Wells Fargo & Company decreased their price target on Coty from $10.00 to $9.00 and set an equal weight rating on the stock in a research note on Tuesday. Finally, Jefferies Financial Group raised shares of Coty from a hold rating to a buy rating and upped their price objective for the company from $11.00 to $12.00 in a research note on Monday, October 7th. Seven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, Coty has a consensus rating of Moderate Buy and a consensus target price of $12.50.

Coty Price Performance

Shares of NYSE:COTY opened at $8.19 on Tuesday. Coty has a one year low of $7.95 and a one year high of $13.30. The stock has a market cap of $7.10 billion, a PE ratio of 35.59, a price-to-earnings-growth ratio of 0.67 and a beta of 1.89. The business’s fifty day moving average price is $9.26 and its two-hundred day moving average price is $10.03. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.46 and a current ratio of 0.75.

Coty (NYSE:COTY) last posted its quarterly earnings data on Tuesday, August 20th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.07). Coty had a return on equity of 8.05% and a net margin of 1.46%. The company had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.38 billion. During the same quarter in the prior year, the business posted $0.01 EPS. The company’s revenue for the quarter was up .9% compared to the same quarter last year. On average, analysts forecast that Coty will post 0.56 EPS for the current fiscal year.

Institutional Trading of Coty

Large investors have recently added to or reduced their stakes in the stock. Covea Finance boosted its position in shares of Coty by 52.2% in the third quarter. Covea Finance now owns 175,000 shares of the company’s stock worth $1,643,000 after buying an additional 60,000 shares during the period. Fulton Bank N.A. lifted its position in Coty by 16.1% during the 3rd quarter. Fulton Bank N.A. now owns 26,214 shares of the company’s stock worth $246,000 after acquiring an additional 3,636 shares in the last quarter. Handelsbanken Fonder AB boosted its holdings in Coty by 24.3% in the 3rd quarter. Handelsbanken Fonder AB now owns 113,900 shares of the company’s stock worth $1,070,000 after acquiring an additional 22,300 shares during the period. SG Americas Securities LLC grew its position in Coty by 1,798.5% in the third quarter. SG Americas Securities LLC now owns 1,847,328 shares of the company’s stock valued at $17,346,000 after acquiring an additional 1,750,021 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Coty during the second quarter valued at approximately $153,000. 42.36% of the stock is currently owned by institutional investors and hedge funds.

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.