Coty (NYSE:COTY) Shares Gap Up – Should You Buy?

Shares of Coty Inc. (NYSE:COTY) gapped up before the market opened on Thursday . The stock had previously closed at $5.54, but opened at $5.77. Coty shares last traded at $5.73, with a volume of 1,143,024 shares traded.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on COTY shares. Morgan Stanley reduced their target price on Coty from $9.00 to $7.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 12th. Stifel Nicolaus dropped their price target on Coty from $8.50 to $8.00 and set a “hold” rating for the company in a research report on Tuesday, February 11th. Piper Sandler dropped their price target on Coty from $9.00 to $8.00 and set an “overweight” rating for the company in a research report on Monday, February 24th. Wells Fargo & Company dropped their price target on Coty from $9.00 to $7.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $13.00 price target on shares of Coty in a research report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $9.78.

Coty Trading Down 1.3 %

The company has a 50 day moving average price of $6.29 and a 200 day moving average price of $7.36. The firm has a market cap of $4.84 billion, a price-to-earnings ratio of -555.50, a price-to-earnings-growth ratio of 0.81 and a beta of 1.97. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.45 and a current ratio of 0.71.

Coty (NYSE:COTY) last announced its quarterly earnings results on Monday, February 10th. The company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.11). Coty had a net margin of 0.22% and a return on equity of 6.34%. On average, research analysts expect that Coty Inc. will post 0.39 earnings per share for the current year.

Hedge Funds Weigh In On Coty

Large investors have recently modified their holdings of the business. Ameriprise Financial Inc. lifted its stake in Coty by 12.1% during the 4th quarter. Ameriprise Financial Inc. now owns 20,214,382 shares of the company’s stock worth $140,691,000 after acquiring an additional 2,175,120 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Coty by 13.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 13,318,685 shares of the company’s stock worth $92,697,000 after acquiring an additional 1,569,315 shares in the last quarter. State Street Corp lifted its stake in Coty by 2.3% during the 3rd quarter. State Street Corp now owns 11,043,208 shares of the company’s stock worth $103,696,000 after acquiring an additional 251,964 shares in the last quarter. Clearbridge Investments LLC lifted its stake in Coty by 0.4% during the 4th quarter. Clearbridge Investments LLC now owns 9,824,638 shares of the company’s stock worth $68,379,000 after acquiring an additional 37,412 shares in the last quarter. Finally, Thrivent Financial for Lutherans lifted its stake in Coty by 25.5% during the 4th quarter. Thrivent Financial for Lutherans now owns 8,096,912 shares of the company’s stock worth $56,354,000 after acquiring an additional 1,646,839 shares in the last quarter. Institutional investors and hedge funds 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.