DA Davidson Raises Coty (NYSE:COTY) Price Target to $17.00

Coty (NYSE:COTY) had its price objective lifted by DA Davidson from $16.50 to $17.00 in a research report released on Wednesday, Benzinga reports. They currently have a buy rating on the stock.

Several other brokerages have also recently weighed in on COTY. Bank of America decreased their price target on shares of Coty from $15.00 to $14.00 and set a buy rating for the company in a research note on Wednesday, July 10th. Citigroup decreased their price target on shares of Coty from $12.00 to $11.00 and set a neutral rating for the company in a research note on Wednesday, July 10th. Piper Sandler cut their price objective on Coty from $15.00 to $13.00 and set an overweight rating for the company in a report on Thursday, July 11th. Finally, Wells Fargo & Company cut their price objective on Coty from $12.00 to $11.00 and set an equal weight rating for the company in a report on Wednesday, July 10th. Eight investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $12.85.

Coty Trading Down 0.6 %

NYSE:COTY opened at $9.96 on Wednesday. The company has a market cap of $8.64 billion, a P/E ratio of 43.28, a price-to-earnings-growth ratio of 3.31 and a beta of 1.91. Coty has a twelve month low of $8.79 and a twelve month high of $13.30. The business has a 50 day moving average price of $9.76 and a two-hundred day moving average price of $10.85. The company has a quick ratio of 0.50, a current ratio of 0.80 and a debt-to-equity ratio of 0.93.

Coty (NYSE:COTY) last issued its quarterly earnings results on Tuesday, August 20th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.07). The business had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.38 billion. Coty had a return on equity of 8.75% and a net margin of 3.59%. Coty’s revenue was up .9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.01 earnings per share. As a group, analysts expect that Coty will post 0.44 EPS for the current fiscal year.

Institutional Investors Weigh In On Coty

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