Wells Fargo & Company Lowers Coty (NYSE:COTY) Price Target to $9.00

Coty (NYSE:COTY) had its price objective decreased by Wells Fargo & Company from $10.00 to $9.00 in a research note issued to investors on Tuesday morning, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

A number of other analysts have also recently issued reports on the company. Canaccord Genuity Group reiterated a “buy” rating and set a $14.00 target price on shares of Coty in a report on Friday, September 13th. Evercore ISI reiterated an “outperform” rating and set a $15.00 price objective on shares of Coty in a research note on Wednesday, August 21st. Barclays dropped their price objective on shares of Coty from $11.00 to $10.00 and set an “equal weight” rating for the company in a research report on Thursday, August 22nd. Jefferies Financial Group upgraded shares of Coty from a “hold” rating to a “buy” rating and lifted their target price for the company from $11.00 to $12.00 in a report on Monday, October 7th. Finally, Piper Sandler cut their price objective on Coty from $15.00 to $13.00 and set an “overweight” rating on the stock in a research report on Thursday, July 11th. Seven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $12.15.

Coty Stock Performance

Shares of COTY stock opened at $7.83 on Tuesday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.46 and a current ratio of 0.75. The firm has a market capitalization of $6.80 billion, a price-to-earnings ratio of 34.04, a price-to-earnings-growth ratio of 0.67 and a beta of 1.89. Coty has a one year low of $7.75 and a one year high of $13.30. The company has a 50 day moving average price of $9.20 and a 200 day moving average price of $10.00.

Coty (NYSE:COTY) last released 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 return on equity of 8.05% and a net margin of 1.46%. The firm had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same quarter in the previous year, the company earned $0.01 earnings per share. The company’s quarterly revenue was up .9% on a year-over-year basis. Sell-side analysts anticipate that Coty will post 0.56 EPS for the current year.

Institutional Inflows and Outflows

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