Coty (NYSE:COTY) Coverage Initiated at Canaccord Genuity Group

Canaccord Genuity Group began coverage on shares of Coty (NYSE:COTY) in a research note released on Monday, Briefing.com reports. The firm issued a buy rating and a $14.00 target price on the stock.

Other equities analysts have also recently issued research reports about the company. Canaccord Genuity Group started coverage on Coty in a report on Monday. They issued a buy rating and a $14.00 price target for the company. DA Davidson reiterated a buy rating and set a $17.50 target price on shares of Coty in a research note on Monday, April 8th. TheStreet upgraded Coty from a c+ rating to a b- rating in a research note on Thursday, February 8th. Barclays reduced their target price on Coty from $13.00 to $12.00 and set an equal weight rating for the company in a research note on Friday, April 12th. Finally, TD Cowen upgraded Coty from a market perform rating to an outperform rating and increased their target price for the company from $13.00 to $16.00 in a research note on Thursday, February 22nd. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Coty currently has an average rating of Hold and an average target price of $13.19.

Coty Stock Down 1.8 %

NYSE COTY opened at $10.63 on Monday. The stock has a market cap of $9.52 billion, a PE ratio of 30.37, a P/E/G ratio of 5.80 and a beta of 1.82. Coty has a fifty-two week low of $9.02 and a fifty-two week high of $13.46. The business has a 50 day moving average price of $11.99 and a two-hundred day moving average price of $11.48. The company has a quick ratio of 0.58, a current ratio of 0.85 and a debt-to-equity ratio of 0.80.

Coty (NYSE:COTY) last released its quarterly earnings results on Wednesday, February 7th. The company reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.05. The firm had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.68 billion. Coty had a return on equity of 11.91% and a net margin of 5.39%. Coty’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.22 EPS. As a group, sell-side analysts predict that Coty will post 0.45 EPS for the current fiscal year.

Insider Activity at Coty

In other Coty news, Director Robert S. Singer sold 30,000 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $12.70, for a total value of $381,000.00. Following the sale, the director now directly owns 120,000 shares of the company’s stock, valued at $1,524,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Coty news, Director Robert S. Singer sold 30,000 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $12.70, for a total value of $381,000.00. Following the sale, the director now directly owns 120,000 shares of the company’s stock, valued at $1,524,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robert S. Singer sold 90,000 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $12.56, for a total value of $1,130,400.00. Following the completion of the sale, the director now directly owns 169,982 shares in the company, valued at $2,134,973.92. The disclosure for this sale can be found here. Corporate insiders own 5.80% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of COTY. Clearbridge Investments LLC increased its holdings in shares of Coty by 123.3% during the first quarter. Clearbridge Investments LLC now owns 16,862,950 shares of the company’s stock valued at $151,598,000 after purchasing an additional 9,311,527 shares during the period. BlackRock Inc. increased its holdings in shares of Coty by 20.0% during the first quarter. BlackRock Inc. now owns 46,632,257 shares of the company’s stock valued at $419,223,000 after purchasing an additional 7,760,564 shares during the period. Norges Bank acquired a new position in shares of Coty during the fourth quarter valued at $67,193,000. Goldman Sachs Group Inc. increased its holdings in shares of Coty by 119.5% during the first quarter. Goldman Sachs Group Inc. now owns 8,312,124 shares of the company’s stock valued at $74,726,000 after purchasing an additional 4,525,332 shares during the period. Finally, Vanguard Group Inc. increased its holdings in shares of Coty by 12.1% during the third quarter. Vanguard Group Inc. now owns 39,281,692 shares of the company’s stock valued at $430,920,000 after purchasing an additional 4,245,039 shares during the period. 42.36% of the stock is 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.