Morgan Stanley Lowers Coty (NYSE:COTY) Price Target to $7.00

Coty (NYSE:COTY) had its target price reduced by Morgan Stanley from $9.00 to $7.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective would suggest a potential upside of 13.47% from the stock’s current price.

A number of other equities analysts have also recently weighed in on COTY. Barclays reduced their price objective on shares of Coty from $7.00 to $6.00 and set an “underweight” rating for the company in a research report on Friday, January 17th. The Goldman Sachs Group began coverage on shares of Coty in a research report on Friday, December 13th. They set a “neutral” rating and a $9.00 price target for the company. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $14.00 price target on shares of Coty in a research note on Tuesday, October 15th. TD Cowen lowered Coty from a “buy” rating to a “hold” rating and cut their price objective for the stock from $11.00 to $8.50 in a research note on Wednesday, November 13th. Finally, JPMorgan Chase & Co. decreased their target price on Coty from $11.00 to $10.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $10.89.

Coty Price Performance

NYSE:COTY opened at $6.17 on Wednesday. The stock has a market capitalization of $5.37 billion, a PE ratio of 36.29, a price-to-earnings-growth ratio of 0.72 and a beta of 1.89. Coty has a 52 week low of $6.13 and a 52 week high of $13.30. The company has a quick ratio of 0.55, a current ratio of 0.85 and a debt-to-equity ratio of 0.93. The stock’s 50-day moving average price is $7.16 and its 200-day moving average price is $8.11.

Coty (NYSE:COTY) last issued its quarterly earnings data on Monday, February 10th. The company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.11). Coty had a net margin of 2.78% and a return on equity of 9.16%. As a group, equities analysts expect that Coty will post 0.51 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Compass Wealth Management LLC lifted its holdings in Coty by 12.6% in the third quarter. Compass Wealth Management LLC now owns 590,725 shares of the company’s stock valued at $5,547,000 after acquiring an additional 65,900 shares during the last quarter. Blue Trust Inc. raised its position in Coty by 330.3% in the third quarter. Blue Trust Inc. now owns 3,107 shares of the company’s stock valued at $31,000 after purchasing an additional 2,385 shares during the period. Raymond James & Associates lifted its stake in shares of Coty by 13.2% in the 3rd quarter. Raymond James & Associates now owns 348,560 shares of the company’s stock valued at $3,273,000 after purchasing an additional 40,572 shares during the last quarter. State of Alaska Department of Revenue grew its holdings in shares of Coty by 3.8% during the 3rd quarter. State of Alaska Department of Revenue now owns 42,339 shares of the company’s stock worth $397,000 after purchasing an additional 1,545 shares during the period. Finally, M&G PLC increased its position in shares of Coty by 4.7% during the 3rd quarter. M&G PLC now owns 533,731 shares of the company’s stock worth $4,804,000 after purchasing an additional 24,037 shares during the last quarter. 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.