TD Cowen Downgrades Coty (NYSE:COTY) to Hold

Coty (NYSE:COTY) was downgraded by analysts at TD Cowen from a “buy” rating to a “hold” rating in a research note issued on Wednesday,Briefing.com Automated Import reports. They presently have a $8.50 target price on the stock, down from their previous target price of $11.00. TD Cowen’s price target would suggest a potential upside of 13.79% from the stock’s current price.

A number of other brokerages have also recently weighed in on COTY. Stifel Nicolaus dropped their price target on shares of Coty from $11.00 to $10.00 and set a “hold” rating for the company in a research report on Tuesday, October 15th. Wells Fargo & Company lowered their price objective on shares of Coty from $10.00 to $9.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 15th. JPMorgan Chase & Co. lowered their price objective on shares of Coty from $11.00 to $10.00 and set a “neutral” rating for the company in a research note on Tuesday, October 15th. Canaccord Genuity Group reissued a “buy” rating and issued a $14.00 price objective on shares of Coty in a research note on Tuesday, October 15th. Finally, Jefferies Financial Group lowered their price objective 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. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $11.56.

Coty Price Performance

Shares of COTY opened at $7.47 on Wednesday. Coty has a 1-year low of $7.02 and a 1-year high of $13.30. The stock has a market cap of $6.48 billion, a PE ratio of 43.94, a P/E/G ratio of 0.72 and a beta of 1.91. The firm has a 50-day simple moving average of $8.50 and a two-hundred day simple moving average of $9.52. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.85 and a quick ratio of 0.55.

Coty (NYSE:COTY) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.04). Coty had a net margin of 2.78% and a return on equity of 9.16%. The company had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same quarter in the prior year, the business earned $0.09 earnings per share. Coty’s revenue was up 1.8% on a year-over-year basis. As a group, analysts forecast that Coty will post 0.52 EPS for the current year.

Hedge Funds Weigh In On Coty

A number of institutional investors have recently modified their holdings of COTY. Point72 Asset Management L.P. increased its holdings in shares of Coty by 789.3% in the 2nd quarter. Point72 Asset Management L.P. now owns 5,582,064 shares of the company’s stock valued at $55,932,000 after acquiring an additional 4,954,362 shares during the period. SG Americas Securities LLC increased its stake in Coty by 1,798.5% in the 3rd quarter. SG Americas Securities LLC now owns 1,847,328 shares of the company’s stock valued at $17,346,000 after buying an additional 1,750,021 shares during the period. Vaughan Nelson Investment Management L.P. increased its stake in 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 buying an additional 1,687,045 shares during the period. Assenagon Asset Management S.A. increased its stake in Coty by 733.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,900,000 shares of the company’s stock valued at $19,038,000 after buying an additional 1,671,897 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in Coty by 10.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 9,387,661 shares of the company’s stock valued at $94,068,000 after buying an additional 890,626 shares during the period. 42.36% of the stock is 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.