Coty (NYSE:COTY) Sets New 12-Month Low After Earnings Miss

Coty Inc. (NYSE:COTY)’s share price reached a new 52-week low on Tuesday after the company announced weaker than expected quarterly earnings. The stock traded as low as $6.50 and last traded at $6.47, with a volume of 788997 shares. The stock had previously closed at $6.77.

The company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.11). Coty had a return on equity of 9.16% and a net margin of 2.78%.

Analyst Upgrades and Downgrades

Several brokerages have commented on COTY. Citigroup lowered their target price on Coty from $10.50 to $10.00 and set a “neutral” rating for the company in a research note on Monday, October 14th. JPMorgan Chase & Co. dropped their price objective on shares of Coty from $11.00 to $10.00 and set a “neutral” rating for the company in a research note on Tuesday, October 15th. DA Davidson reaffirmed a “buy” rating and set a $12.50 target price on shares of Coty in a research note on Thursday, February 6th. Canaccord Genuity Group reiterated a “buy” rating and issued a $14.00 price target on shares of Coty in a research note on Tuesday, October 15th. Finally, Barclays reduced their price objective on Coty from $7.00 to $6.00 and set an “underweight” rating on the stock in a research report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have given 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 $11.24.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Amundi raised its stake in Coty by 1,990,624.9% during the fourth quarter. Amundi now owns 4,479,131 shares of the company’s stock worth $30,503,000 after buying an additional 4,478,906 shares during the last quarter. Vaughan Nelson Investment Management L.P. grew its holdings in Coty by 42.6% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 5,642,602 shares of the company’s stock worth $52,984,000 after acquiring an additional 1,687,045 shares during the period. Thrivent Financial for Lutherans raised its position in shares of Coty by 25.5% in the 4th quarter. Thrivent Financial for Lutherans now owns 8,096,912 shares of the company’s stock worth $56,354,000 after acquiring an additional 1,646,839 shares in the last quarter. Barclays PLC lifted its stake in shares of Coty by 147.1% in the 3rd quarter. Barclays PLC now owns 1,165,806 shares of the company’s stock valued at $10,947,000 after purchasing an additional 693,961 shares during the period. Finally, Victory Capital Management Inc. boosted its position in shares of Coty by 17.5% during the 4th quarter. Victory Capital Management Inc. now owns 3,134,276 shares of the company’s stock valued at $21,815,000 after purchasing an additional 466,772 shares in the last quarter. Institutional investors and hedge funds own 42.36% of the company’s stock.

Coty Stock Down 6.3 %

The firm has a market cap of $5.52 billion, a price-to-earnings ratio of 37.32, a PEG ratio of 0.72 and a beta of 1.89. The firm has a 50 day moving average of $7.17 and a 200 day moving average of $8.13. The company has a quick ratio of 0.55, a current ratio of 0.85 and a debt-to-equity ratio of 0.93.

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.