Coty (NYSE:COTY) Downgraded by TD Cowen to "Hold"

TD Cowen downgraded shares of Coty (NYSE:COTY - Free Report) from a buy rating to a hold rating in a research report report published on Wednesday, Marketbeat reports. TD Cowen currently has $8.50 target price on the stock, down from their previous target price of $11.00.

Several other equities analysts also recently commented on COTY. Wells Fargo & Company lowered their target price on shares of Coty from $10.00 to $9.00 and set an "equal weight" rating on the stock in a research report on Tuesday, October 15th. Evercore ISI reiterated an "outperform" rating and set a $15.00 price target on shares of Coty in a report on Wednesday, August 21st. Raymond James lowered their price objective on shares of Coty from $13.00 to $11.00 and set an "outperform" rating on the stock in a research note on Friday, November 8th. Jefferies Financial Group cut their target price on shares of Coty from $12.00 to $11.00 and set a "buy" rating for the company in a research note on Wednesday, October 16th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of Coty from $14.00 to $12.00 and set a "buy" rating on the stock in a research report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $11.56.

Coty Stock Performance

Shares of NYSE COTY traded down $0.03 during mid-day trading on Wednesday, hitting $7.44. The company had a trading volume of 2,889,404 shares, compared to its average volume of 4,197,727. Coty has a 12 month low of $7.02 and a 12 month high of $13.30. The stock has a market cap of $6.46 billion, a price-to-earnings ratio of 43.82, a PEG ratio of 0.73 and a beta of 1.91. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.85 and a quick ratio of 0.55. The firm's 50 day simple moving average is $8.50 and its two-hundred day simple moving average is $9.52.

Coty (NYSE:COTY - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.04). Coty had a net margin of 2.78% and a return on equity of 9.16%. The firm had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same quarter in the prior year, the business earned $0.09 earnings per share. The company's revenue for the quarter was up 1.8% compared to the same quarter last year. As a group, equities research analysts forecast that Coty will post 0.52 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Point72 Asset Management L.P. lifted its holdings in Coty by 789.3% in the second quarter. Point72 Asset Management L.P. now owns 5,582,064 shares of the company's stock valued at $55,932,000 after buying an additional 4,954,362 shares during the period. SG Americas Securities LLC raised its position in shares of Coty by 1,798.5% during the 3rd quarter. SG Americas Securities LLC now owns 1,847,328 shares of the company's stock valued at $17,346,000 after acquiring an additional 1,750,021 shares during the last quarter. Vaughan Nelson Investment Management L.P. lifted its stake in shares of Coty by 42.6% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 5,642,602 shares of the company's stock valued at $52,984,000 after purchasing an additional 1,687,045 shares during the period. Assenagon Asset Management S.A. boosted its position in shares of Coty by 733.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,900,000 shares of the company's stock worth $19,038,000 after purchasing an additional 1,671,897 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Coty by 10.5% during the second quarter. Dimensional Fund Advisors LP now owns 9,387,661 shares of the company's stock worth $94,068,000 after purchasing an additional 890,626 shares during the period. 42.36% of the stock is currently owned by institutional investors and hedge funds.

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.