Wells Fargo & Company Lowers Coty (NYSE:COTY) Price Target to $7.00

Coty (NYSE:COTY) had its price objective dropped by investment analysts at Wells Fargo & Company from $9.00 to $7.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective would suggest a potential downside of 1.27% from the stock’s previous close.

Other analysts have also issued reports about the company. TD Cowen lowered Coty from a “buy” rating to a “hold” rating and reduced their price objective for the company from $11.00 to $8.50 in a research note on Wednesday, November 13th. Jefferies Financial Group reduced their price target on shares of Coty from $12.00 to $11.00 and set a “buy” rating on the stock in a research note on Wednesday, October 16th. Raymond James lowered their price objective on shares of Coty from $13.00 to $11.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Royal Bank of Canada restated an “outperform” rating and issued a $14.00 target price on shares of Coty in a research report on Tuesday, October 15th. Finally, The Goldman Sachs Group assumed coverage on shares of Coty in a report on Friday, December 13th. They set a “neutral” rating and a $9.00 price target for the company. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $11.29.

Coty Price Performance

COTY stock traded up $0.25 during mid-day trading on Tuesday, hitting $7.09. The stock had a trading volume of 755,339 shares, compared to its average volume of 4,621,692. The firm has a fifty day simple moving average of $7.31 and a 200 day simple moving average of $8.62. The firm has a market capitalization of $6.17 billion, a P/E ratio of 41.71, a P/E/G ratio of 0.75 and a beta of 1.89. The company has a current ratio of 0.85, a quick ratio of 0.55 and a debt-to-equity ratio of 0.93. Coty has a 52 week low of $6.72 and a 52 week high of $13.30.

Coty (NYSE:COTY) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.15 earnings per share (EPS) 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 firm had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same period last year, the business earned $0.09 earnings per share. The business’s revenue was up 1.8% compared to the same quarter last year. As a group, research analysts forecast that Coty will post 0.51 EPS for the current year.

Institutional Trading of Coty

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. American Century Companies Inc. boosted its stake in shares of Coty by 10.6% in the 2nd quarter. American Century Companies Inc. now owns 14,746 shares of the company’s stock valued at $148,000 after purchasing an additional 1,414 shares during the last quarter. State of Alaska Department of Revenue grew its holdings in Coty by 3.8% during the 3rd quarter. State of Alaska Department of Revenue now owns 42,339 shares of the company’s stock worth $397,000 after acquiring an additional 1,545 shares during the period. Blue Trust Inc. raised its position in shares of Coty by 330.3% in the 3rd quarter. Blue Trust Inc. now owns 3,107 shares of the company’s stock worth $31,000 after acquiring an additional 2,385 shares in the last quarter. Arizona State Retirement System raised its position in shares of Coty by 2.3% in the 2nd quarter. Arizona State Retirement System now owns 112,773 shares of the company’s stock worth $1,130,000 after acquiring an additional 2,500 shares in the last quarter. Finally, Atria Investments Inc lifted its stake in shares of Coty by 19.3% in the 3rd quarter. Atria Investments Inc now owns 18,650 shares of the company’s stock valued at $175,000 after purchasing an additional 3,022 shares during the period. Institutional investors and hedge funds own 42.36% of the company’s stock.

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.