Coty (NYSE:COTY) Shares Gap Up - What's Next?

Coty Inc. (NYSE:COTY - Get Free Report) shares gapped up prior to trading on Thursday . The stock had previously closed at $5.54, but opened at $5.77. Coty shares last traded at $5.73, with a volume of 1,143,024 shares.

Analysts Set New Price Targets

A number of research firms recently issued reports on COTY. The Goldman Sachs Group lowered their target price on shares of Coty from $9.00 to $8.00 and set a "neutral" rating for the company in a report on Wednesday, February 12th. Morgan Stanley cut their target price on Coty from $9.00 to $7.00 and set an "equal weight" rating on the stock in a research report on Wednesday, February 12th. Canaccord Genuity Group cut their price objective on Coty from $10.00 to $8.00 and set a "buy" rating on the stock in a report on Wednesday, February 12th. Wells Fargo & Company reduced their price objective on Coty from $9.00 to $7.00 and set an "equal weight" rating on the stock in a research note on Tuesday, January 7th. Finally, Citigroup raised shares of Coty from a "neutral" rating to a "buy" rating and increased their target price for the stock from $7.00 to $8.00 in a research report on Thursday. One 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. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $9.78.

Coty Stock Down 0.7 %

The firm has a market cap of $4.81 billion, a P/E ratio of -552.00, a PEG ratio of 0.81 and a beta of 1.97. The firm's 50-day moving average price is $6.29 and its 200 day moving average price is $7.33. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.71 and a quick ratio of 0.45.

Remove Ads

Coty (NYSE:COTY - Get Free Report) last announced its quarterly 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 return on equity of 6.34% and a net margin of 0.22%. On average, equities research analysts expect that Coty Inc. will post 0.39 earnings per share for the current fiscal year.

Institutional Trading of Coty

Large investors have recently added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of Coty during the fourth quarter valued at $44,401,000. Amundi increased its stake in Coty by 1,990,624.9% during the 4th 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 period. Man Group plc acquired a new stake in shares of Coty in the 4th quarter worth approximately $28,473,000. Caisse Des Depots ET Consignations acquired a new stake in shares of Coty in the 4th quarter worth approximately $19,663,000. Finally, Ameriprise Financial Inc. boosted its holdings in shares of Coty by 12.1% in the fourth quarter. Ameriprise Financial Inc. now owns 20,214,382 shares of the company's stock valued at $140,691,000 after acquiring an additional 2,175,120 shares in the last quarter. 42.36% of the stock is currently owned by institutional investors and hedge funds.

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.