Piper Sandler Cuts Coty (NYSE:COTY) Price Target to $13.00

Coty (NYSE:COTY) had its target price trimmed by Piper Sandler from $15.00 to $13.00 in a research note released on Thursday, Benzinga reports. The firm currently has an overweight rating on the stock.

Several other equities analysts have also recently commented on the company. Canaccord Genuity Group began coverage on Coty in a research note on Monday, April 15th. They set a buy rating and a $14.00 target price for the company. TD Cowen dropped their price target on Coty from $16.00 to $13.00 and set a buy rating on the stock in a research report on Wednesday, April 17th. Wells Fargo & Company dropped their price target on Coty from $12.00 to $11.00 and set an equal weight rating on the stock in a research report on Wednesday. Canaccord Genuity Group began coverage on Coty in a research report on Monday, April 15th. They set a buy rating and a $14.00 price target on the stock. Finally, Bank of America dropped their price target on Coty from $15.00 to $14.00 and set a buy rating on the stock in a research report on Wednesday. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Coty has an average rating of Moderate Buy and an average price target of $13.01.

Coty Stock Up 3.6 %

NYSE COTY opened at $10.44 on Thursday. The stock has a market cap of $9.06 billion, a PE ratio of 45.39, a P/E/G ratio of 3.48 and a beta of 1.91. The company has a quick ratio of 0.50, a current ratio of 0.80 and a debt-to-equity ratio of 0.93. The business has a 50 day moving average price of $10.27 and a two-hundred day moving average price of $11.36. Coty has a fifty-two week low of $9.02 and a fifty-two week high of $13.30.

Coty (NYSE:COTY) last released its earnings results on Monday, May 6th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.01). The business had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.37 billion. Coty had a net margin of 3.59% and a return on equity of 8.75%. The business’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.19 earnings per share. As a group, sell-side analysts predict that Coty will post 0.44 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of COTY. Neo Ivy Capital Management bought a new position in shares of Coty in the third quarter worth $280,000. Teachers Retirement System of The State of Kentucky grew its stake in shares of Coty by 104.1% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 118,613 shares of the company’s stock worth $1,301,000 after purchasing an additional 60,493 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Coty by 12.1% in the third quarter. Vanguard Group Inc. now owns 39,281,692 shares of the company’s stock worth $430,920,000 after purchasing an additional 4,245,039 shares in the last quarter. Symmetry Partners LLC grew its stake in shares of Coty by 69.8% in the fourth quarter. Symmetry Partners LLC now owns 25,345 shares of the company’s stock worth $317,000 after purchasing an additional 10,420 shares in the last quarter. Finally, Compass Wealth Management LLC grew its stake in shares of Coty by 6.9% in the fourth quarter. Compass Wealth Management LLC now owns 455,775 shares of the company’s stock worth $5,661,000 after purchasing an additional 29,600 shares in the last quarter. Institutional investors 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.