Coty (NYSE:COTY) Trading 5.2% Higher – Here’s What Happened

Coty Inc. (NYSE:COTY) shares shot up 5.2% during mid-day trading on Thursday . The stock traded as high as $7.29 and last traded at $7.27. 2,394,747 shares were traded during trading, a decline of 52% from the average session volume of 4,991,679 shares. The stock had previously closed at $6.91.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on COTY. Deutsche Bank Aktiengesellschaft reduced their price objective on Coty from $14.00 to $12.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. The Goldman Sachs Group started coverage on Coty in a research report on Friday, December 13th. They issued a “neutral” rating and a $9.00 target price for the company. TD Cowen lowered shares of Coty from a “buy” rating to a “hold” rating and lowered their price target for the company from $11.00 to $8.50 in a report on Wednesday, November 13th. Wells Fargo & Company decreased their target price on shares of Coty from $9.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. Finally, Raymond James dropped their price target on shares of Coty from $13.00 to $11.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $11.29.

Coty Trading Up 4.4 %

The business has a 50 day simple moving average of $7.21 and a 200 day simple moving average of $8.47. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.85 and a quick ratio of 0.55. The company has a market cap of $6.28 billion, a price-to-earnings ratio of 42.44, a price-to-earnings-growth ratio of 0.67 and a beta of 1.89.

Coty (NYSE:COTY) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.04). The company had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.67 billion. Coty had a return on equity of 9.16% and a net margin of 2.78%. The firm’s quarterly revenue was up 1.8% on a year-over-year basis. During the same quarter last year, the company earned $0.09 EPS. As a group, equities analysts forecast that Coty Inc. will post 0.51 EPS for the current year.

Institutional Trading of Coty

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Oak Thistle LLC acquired a new position in Coty during the 4th quarter worth $808,000. JPMorgan Chase & Co. lifted its stake in shares of Coty by 16.8% during the third quarter. JPMorgan Chase & Co. now owns 743,445 shares of the company’s stock valued at $6,981,000 after acquiring an additional 107,014 shares during the period. Tidal Investments LLC boosted its holdings in Coty by 26.6% in the third quarter. Tidal Investments LLC now owns 201,398 shares of the company’s stock valued at $1,891,000 after acquiring an additional 42,295 shares during the last quarter. Virtu Financial LLC acquired a new stake in Coty in the third quarter worth about $96,000. Finally, Neo Ivy Capital Management acquired a new stake in Coty in the third quarter worth about $1,684,000. Institutional investors and hedge funds own 42.36% of the company’s stock.

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.