Canaccord Genuity Group Issues Pessimistic Forecast for Coty (NYSE:COTY) Stock Price

Coty (NYSE:COTY - Get Free Report) had its price objective decreased by analysts at Canaccord Genuity Group from $10.00 to $8.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a "buy" rating on the stock. Canaccord Genuity Group's price objective suggests a potential upside of 43.24% from the company's current price.

Other research analysts also recently issued research reports about the stock. Royal Bank of Canada restated an "outperform" rating and set a $14.00 price target on shares of Coty in a report on Tuesday, October 15th. Barclays cut their price target on shares of Coty from $7.00 to $6.00 and set an "underweight" rating on the stock in a report on Friday, January 17th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Coty from $14.00 to $12.00 and set a "buy" rating on the stock in a report on Wednesday, October 16th. Wells Fargo & Company cut their price target on shares of Coty from $9.00 to $7.00 and set an "equal weight" rating on the stock in a report on Tuesday, January 7th. Finally, The Goldman Sachs Group started coverage on shares of Coty in a report on Friday, December 13th. They set a "neutral" rating and a $9.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, Coty has an average rating of "Moderate Buy" and a consensus price target of $10.17.

Coty Stock Down 2.9 %

COTY stock traded down $0.17 during midday trading on Wednesday, reaching $5.59. The company had a trading volume of 8,361,467 shares, compared to its average volume of 5,098,250. Coty has a 1 year low of $5.55 and a 1 year high of $13.30. The company has a current ratio of 0.85, a quick ratio of 0.55 and a debt-to-equity ratio of 0.93. The company has a market capitalization of $4.86 billion, a P/E ratio of 32.85, a PEG ratio of 0.72 and a beta of 1.89. The company has a 50 day moving average of $7.01 and a two-hundred day moving average of $8.02.

Coty (NYSE:COTY - Get Free Report) last released its 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 9.16% and a net margin of 2.78%. On average, equities research analysts expect that Coty will post 0.51 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Coty

Institutional investors have recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC lifted its holdings in Coty by 317.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,191 shares of the company's stock valued at $29,000 after purchasing an additional 3,186 shares during the last quarter. Blue Trust Inc. lifted its holdings in Coty by 330.3% during the 3rd 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 last quarter. Allworth Financial LP lifted its holdings in Coty by 145.0% during the 4th quarter. Allworth Financial LP now owns 5,623 shares of the company's stock valued at $42,000 after purchasing an additional 3,328 shares during the last quarter. Quadrant Capital Group LLC lifted its holdings in Coty by 55.3% during the 4th quarter. Quadrant Capital Group LLC now owns 7,307 shares of the company's stock valued at $51,000 after purchasing an additional 2,601 shares during the last quarter. Finally, R Squared Ltd bought a new position in Coty during the 4th quarter valued at about $54,000. 42.36% of the stock is owned by institutional investors.

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.