Coty Inc. (NYSE:COTY - Get Free Report)'s share price dropped 5.1% on Wednesday after The Goldman Sachs Group lowered their price target on the stock from $9.00 to $8.00. The Goldman Sachs Group currently has a neutral rating on the stock. Coty traded as low as $5.82 and last traded at $5.83. Approximately 2,884,451 shares changed hands during trading, a decline of 51% from the average daily volume of 5,861,950 shares. The stock had previously closed at $6.14.
Several other research analysts have also commented on the stock. TD Cowen lowered shares of Coty from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $11.00 to $8.50 in a research note on Wednesday, November 13th. Raymond James reduced their price target on shares of Coty from $13.00 to $11.00 and set an "outperform" rating on the stock in a research report on Friday, November 8th. Jefferies Financial Group lowered their price objective on Coty from $12.00 to $11.00 and set a "buy" rating for the company in a research report on Wednesday, October 16th. Evercore ISI decreased their price target on shares of Coty from $15.00 to $10.00 and set an "outperform" rating for the company in a research note on Wednesday. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $13.00 target price on shares of Coty in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, Coty currently has an average rating of "Moderate Buy" and a consensus price target of $10.17.
Check Out Our Latest Analysis on COTY
Institutional Investors Weigh In On Coty
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Norges Bank bought a new stake in shares of Coty during the 4th quarter valued at $44,401,000. Amundi grew its stake in shares of Coty by 1,990,624.9% during the fourth quarter. Amundi now owns 4,479,131 shares of the company's stock valued at $30,503,000 after buying an additional 4,478,906 shares during the last quarter. Caisse Des Depots ET Consignations purchased a new position in shares of Coty during the fourth quarter valued at $19,663,000. Vaughan Nelson Investment Management L.P. boosted its stake in Coty by 42.6% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 5,642,602 shares of the company's stock valued at $52,984,000 after acquiring an additional 1,687,045 shares in the last quarter. Finally, Thrivent Financial for Lutherans boosted its position in Coty by 25.5% in the fourth quarter. Thrivent Financial for Lutherans now owns 8,096,912 shares of the company's stock valued at $56,354,000 after buying an additional 1,646,839 shares during the last quarter. 42.36% of the stock is owned by hedge funds and other institutional investors.
Coty Trading Down 2.9 %
The company has a market cap of $4.86 billion, a price-to-earnings ratio of 32.85, a price-to-earnings-growth ratio of 0.72 and a beta of 1.89. The company's 50-day moving average is $7.01 and its 200 day moving average is $8.01. The company has a quick ratio of 0.55, a current ratio of 0.85 and a debt-to-equity ratio of 0.93.
Coty (NYSE:COTY - Get Free Report) last issued its earnings results on Monday, February 10th. The company reported $0.11 earnings per share (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%. Research analysts predict that Coty Inc. will post 0.51 EPS for the current year.
About Coty
(
Get Free Report)
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.
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