Coty (NYSE:COTY) Given New $14.50 Price Target at DA Davidson

Coty (NYSE:COTY) had its price objective lowered by DA Davidson from $17.00 to $14.50 in a report released on Wednesday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

Other research analysts also recently issued reports about the company. JPMorgan Chase & Co. lowered their target price on Coty from $11.00 to $10.00 and set a “neutral” rating on the stock in a research note on Tuesday. Evercore ISI restated an “outperform” rating and issued a $15.00 target price on shares of Coty in a research note on Wednesday, August 21st. Piper Sandler dropped their price target on shares of Coty from $15.00 to $13.00 and set an “overweight” rating on the stock in a research note on Thursday, July 11th. Citigroup reduced their price objective on shares of Coty from $10.50 to $10.00 and set a “neutral” rating for the company in a research report on Monday. Finally, Barclays dropped their target price on Coty from $11.00 to $10.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 22nd. Seven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $12.15.

Coty Stock Performance

Shares of Coty stock opened at $7.99 on Wednesday. The stock has a market capitalization of $6.93 billion, a price-to-earnings ratio of 34.72, a PEG ratio of 0.67 and a beta of 1.89. The firm’s fifty day simple moving average is $9.23 and its 200-day simple moving average is $10.01. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.75 and a quick ratio of 0.46. Coty has a 12 month low of $7.95 and a 12 month high of $13.30.

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 net margin of 1.46% and a return on equity of 8.05%. The business had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same quarter in the prior year, the firm posted $0.01 earnings per share. The company’s revenue for the quarter was up .9% compared to the same quarter last year. As a group, equities analysts forecast that Coty will post 0.56 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in COTY. Vanguard Group Inc. raised its position in Coty by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 39,776,331 shares of the company’s stock worth $494,022,000 after acquiring an additional 494,639 shares during the last quarter. Nomura Holdings Inc. purchased a new position in shares of Coty during the 4th quarter worth approximately $1,533,000. Fulton Bank N.A. raised its position in shares of Coty by 73.6% during the 1st quarter. Fulton Bank N.A. now owns 18,238 shares of the company’s stock worth $218,000 after purchasing an additional 7,730 shares during the last quarter. Vaughan Nelson Investment Management L.P. lifted its stake in Coty by 78.4% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 3,174,872 shares of the company’s stock valued at $37,972,000 after buying an additional 1,395,230 shares in the last quarter. Finally, State of Michigan Retirement System grew its holdings in Coty by 2.7% during the 1st quarter. State of Michigan Retirement System now owns 92,298 shares of the company’s stock valued at $1,104,000 after buying an additional 2,400 shares during 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.