Coty (NYSE:COTY) Shares Up 5.2% on Analyst Upgrade

Coty Inc. (NYSE:COTY) shares traded up 5.2% on Wednesday after DA Davidson raised their price target on the stock from $16.50 to $17.00. DA Davidson currently has a buy rating on the stock. Coty traded as high as $10.10 and last traded at $10.03. 2,867,182 shares changed hands during trading, a decline of 27% from the average session volume of 3,931,846 shares. The stock had previously closed at $9.53.

Other research analysts have also issued reports about the company. Piper Sandler cut their target price on Coty from $15.00 to $13.00 and set an “overweight” rating on the stock in a research report on Thursday, July 11th. Bank of America lowered their target price on Coty from $15.00 to $14.00 and set a “buy” rating for the company in a research note on Wednesday, July 10th. Citigroup lowered their price target on shares of Coty from $12.00 to $11.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Finally, Wells Fargo & Company decreased their price objective on shares of Coty from $12.00 to $11.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Coty currently has a consensus rating of “Moderate Buy” and a consensus target price of $13.11.

Institutional Trading of Coty

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. M&G Plc boosted its stake in shares of Coty by 41.4% during the 2nd quarter. M&G Plc now owns 509,694 shares of the company’s stock worth $5,097,000 after acquiring an additional 149,351 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Coty by 733.0% in the second quarter. Assenagon Asset Management S.A. now owns 1,900,000 shares of the company’s stock worth $19,038,000 after buying an additional 1,671,897 shares during the period. Ranger Investment Management L.P. lifted its position in shares of Coty by 0.5% in the 4th quarter. Ranger Investment Management L.P. now owns 1,623,182 shares of the company’s stock valued at $20,160,000 after acquiring an additional 7,910 shares in the last quarter. FIL Ltd lifted its holdings in shares of Coty by 10.6% in the fourth quarter. FIL Ltd now owns 14,345,501 shares of the company’s stock valued at $178,171,000 after purchasing an additional 1,375,857 shares in the last quarter. Finally, Nomura Holdings Inc. purchased a new stake in Coty in the 4th quarter worth about $1,533,000. 42.36% of the stock is owned by institutional investors and hedge funds.

Coty Price Performance

The company has a current ratio of 0.80, a quick ratio of 0.50 and a debt-to-equity ratio of 0.93. The stock has a 50-day simple moving average of $9.76 and a 200 day simple moving average of $10.88. The stock has a market capitalization of $8.69 billion, a price-to-earnings ratio of 43.70, a price-to-earnings-growth ratio of 3.31 and a beta of 1.91.

Coty (NYSE:COTY) last posted its quarterly earnings results on Tuesday, August 20th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.07). Coty had a return on equity of 8.75% and a net margin of 3.59%. The company had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.38 billion. During the same period last year, the company earned $0.01 earnings per share. Coty’s revenue for the quarter was up .9% compared to the same quarter last year. On average, equities research analysts forecast that Coty Inc. will post 0.44 EPS for the current fiscal year.

Coty Company Profile

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.