Berenberg Bank Initiates Coverage on Coty (NYSE:COTY)

Berenberg Bank initiated coverage on shares of Coty (NYSE:COTY - Free Report) in a research report sent to investors on Tuesday, MarketBeat reports. The firm issued a buy rating and a $7.50 target price on the stock.

A number of other research firms also recently commented on COTY. Morgan Stanley 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 Wednesday, February 12th. Wells Fargo & Company dropped their price target on Coty from $9.00 to $7.00 and set an "equal weight" rating for the company in a research note on Tuesday, January 7th. DA Davidson reaffirmed a "buy" rating and set a $12.50 price target on shares of Coty in a research report on Thursday, February 6th. Citigroup upgraded Coty from a "neutral" rating to a "buy" rating and increased their price target for the company from $7.00 to $8.00 in a report on Thursday, March 20th. Finally, The Goldman Sachs Group cut their price objective on shares of Coty from $9.00 to $8.00 and set a "neutral" rating on the stock in a report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $9.61.

Coty Trading Down 1.9 %

Shares of Coty stock traded down $0.11 during trading hours on Tuesday, reaching $5.45. 5,267,008 shares of the company's stock were exchanged, compared to its average volume of 5,008,815. Coty has a 52-week low of $5.35 and a 52-week high of $11.91. The company has a fifty day moving average of $6.14 and a 200-day moving average of $7.23. The company has a current ratio of 0.71, a quick ratio of 0.45 and a debt-to-equity ratio of 0.85. The firm has a market capitalization of $4.75 billion, a price-to-earnings ratio of -544.50, a price-to-earnings-growth ratio of 0.81 and a beta of 1.97.

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Coty (NYSE:COTY - Get Free Report) last issued 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 return on equity of 6.34% and a net margin of 0.22%. Sell-side analysts forecast that Coty will post 0.39 EPS for the current fiscal year.

Institutional Investors Weigh In On Coty

Hedge funds have recently modified their holdings of the stock. Connor Clark & Lunn Investment Management Ltd. grew its stake in Coty by 116.5% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 42,944 shares of the company's stock valued at $403,000 after acquiring an additional 23,110 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Coty by 0.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,901,380 shares of the company's stock worth $27,244,000 after buying an additional 14,075 shares in the last quarter. Citigroup Inc. boosted its stake in shares of Coty by 10.8% during the 3rd quarter. Citigroup Inc. now owns 569,441 shares of the company's stock valued at $5,347,000 after buying an additional 55,581 shares during the period. Lazard Freres Gestion S.A.S. purchased a new position in shares of Coty during the 3rd quarter valued at $394,000. Finally, Capstone Investment Advisors LLC acquired a new position in shares of Coty in the third quarter worth $109,000. 42.36% of the stock is owned by hedge funds and other institutional investors.

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.