Coty (NYSE:COTY) Given Buy Rating at Canaccord Genuity Group

Canaccord Genuity Group reissued their buy rating on shares of Coty (NYSE:COTY) in a research note issued to investors on Friday morning, Benzinga reports. Canaccord Genuity Group currently has a $14.00 target price on the stock.

A number of other research analysts have also issued reports on the stock. Piper Sandler dropped their price objective on shares of Coty from $15.00 to $13.00 and set an overweight rating for the company in a report on Thursday, July 11th. Wells Fargo & Company dropped their target price on shares of Coty from $12.00 to $11.00 and set an equal weight rating on the stock in a report on Wednesday, July 10th. Citigroup cut their price target on Coty from $12.00 to $11.00 and set a neutral rating on the stock in a report on Wednesday, July 10th. Barclays reduced their target price on Coty from $11.00 to $10.00 and set an equal weight rating for the company in a research note on Thursday, August 22nd. Finally, Evercore ISI restated an outperform rating and set a $15.00 price objective on shares of Coty in a report on Wednesday, August 21st. Eight 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 an average rating of Moderate Buy and a consensus target price of $12.85.

Coty Price Performance

Shares of COTY stock opened at $9.29 on Friday. Coty has a twelve month low of $8.66 and a twelve month high of $13.30. The company has a quick ratio of 0.46, a current ratio of 0.75 and a debt-to-equity ratio of 0.96. The business has a fifty day simple moving average of $9.55 and a 200 day simple moving average of $10.48. The company has a market cap of $8.06 billion, a P/E ratio of 40.39, a P/E/G ratio of 0.66 and a beta of 1.89.

Coty (NYSE:COTY) last posted its quarterly earnings results on Tuesday, August 20th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.07). The company had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.38 billion. Coty had a net margin of 1.46% and a return on equity of 8.05%. The company’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.01 earnings per share. On average, sell-side analysts forecast that Coty will post 0.56 EPS for the current fiscal year.

Hedge Funds Weigh In On Coty

Institutional investors have recently bought and sold shares of the company. Quent Capital LLC boosted its holdings in Coty by 1,448.8% in the 2nd quarter. Quent Capital LLC now owns 5,142 shares of the company’s stock worth $52,000 after buying an additional 4,810 shares during the period. WealthShield Partners LLC bought a new position in shares of Coty in the second quarter valued at approximately $100,000. Fifth Third Wealth Advisors LLC purchased a new position in Coty during the second quarter valued at approximately $107,000. Envestnet Portfolio Solutions Inc. increased its holdings in Coty by 9.8% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 12,388 shares of the company’s stock worth $124,000 after acquiring an additional 1,104 shares during the period. Finally, EntryPoint Capital LLC lifted its stake in Coty by 260.4% in the 1st quarter. EntryPoint Capital LLC now owns 11,652 shares of the company’s stock worth $139,000 after purchasing an additional 8,419 shares in the last quarter. Hedge funds and other institutional investors 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.