Coty (NYSE:COTY) Upgraded to “Buy” at Citigroup

Coty (NYSE:COTY) was upgraded by equities research analysts at Citigroup from a “neutral” rating to a “buy” rating in a note issued to investors on Thursday, MarketBeat Ratings reports. The firm currently has a $8.00 price target on the stock, up from their previous price target of $7.00. Citigroup’s target price suggests a potential upside of 44.01% from the company’s previous close.

Several other brokerages have also recently weighed in on COTY. Evercore ISI dropped their price objective on Coty from $15.00 to $10.00 and set an “outperform” rating for the company in a report on Wednesday, February 12th. Royal Bank of Canada reissued an “outperform” rating and set a $13.00 price objective on shares of Coty in a report on Wednesday, February 12th. Wells Fargo & Company dropped their price objective on Coty from $9.00 to $7.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. Piper Sandler dropped their price objective on Coty from $9.00 to $8.00 and set an “overweight” rating for the company in a report on Monday, February 24th. Finally, Canaccord Genuity Group dropped their price objective on Coty from $10.00 to $8.00 and set a “buy” rating for the company in a report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $9.78.

Coty Stock Performance

Coty stock opened at $5.56 on Thursday. The stock has a 50-day simple moving average of $6.33 and a 200 day simple moving average of $7.40. The company has a quick ratio of 0.45, a current ratio of 0.71 and a debt-to-equity ratio of 0.85. Coty has a 12-month low of $5.35 and a 12-month high of $12.31. The stock has a market capitalization of $4.84 billion, a price-to-earnings ratio of -555.50, a P/E/G ratio of 0.81 and a beta of 1.97.

Coty (NYSE:COTY) last released its quarterly earnings results on Monday, February 10th. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.11). Coty had a net margin of 0.22% and a return on equity of 6.34%. On average, research analysts anticipate that Coty will post 0.39 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Coty

Large investors have recently bought and sold shares of the company. Steward Partners Investment Advisory LLC boosted its position in Coty by 317.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,191 shares of the company’s stock worth $29,000 after acquiring an additional 3,186 shares during the last quarter. Allworth Financial LP raised its stake in shares of Coty by 145.0% during the 4th quarter. Allworth Financial LP now owns 5,623 shares of the company’s stock worth $42,000 after purchasing an additional 3,328 shares in the last quarter. Blue Trust Inc. raised its stake in shares of Coty by 124.8% during the 4th quarter. Blue Trust Inc. now owns 6,984 shares of the company’s stock worth $49,000 after purchasing an additional 3,877 shares in the last quarter. Quadrant Capital Group LLC raised its stake in shares of Coty by 55.3% during the 4th quarter. Quadrant Capital Group LLC now owns 7,307 shares of the company’s stock worth $51,000 after purchasing an additional 2,601 shares in the last quarter. Finally, R Squared Ltd bought a new stake in shares of Coty during the 4th quarter worth approximately $54,000. 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.