Coty (NYSE:COTY) Lowered to Underweight Rating by Barclays

Barclays cut shares of Coty (NYSE:COTY) from an equal weight rating to an underweight rating in a research report released on Thursday, Marketbeat reports. The brokerage currently has $7.00 price target on the stock, down from their previous price target of $8.00.

Several other equities research analysts have also recently weighed in on the company. JPMorgan Chase & Co. lowered their target price on Coty from $11.00 to $10.00 and set a “neutral” rating for the company in a report on Tuesday, October 15th. Evercore ISI reiterated an “outperform” rating and issued a $15.00 target price on shares of Coty in a report on Wednesday, August 21st. DA Davidson lowered their target price on Coty from $17.00 to $14.50 and set a “buy” rating for the company in a report on Wednesday, October 16th. Piper Sandler lowered their target price on Coty from $15.00 to $13.00 and set an “overweight” rating for the company in a report on Thursday, July 11th. Finally, Bank of America lowered their target price on Coty from $15.00 to $14.00 and set a “buy” rating for the company in a report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $11.97.

Coty Stock Performance

Shares of Coty stock opened at $7.16 on Thursday. The stock’s fifty day moving average is $8.57 and its two-hundred day moving average is $9.59. The company has a market capitalization of $6.21 billion, a PE ratio of 42.12, a price-to-earnings-growth ratio of 1.09 and a beta of 1.91. The company has a quick ratio of 0.46, a current ratio of 0.75 and a debt-to-equity ratio of 0.96. Coty has a 52 week low of $7.02 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 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.04). The business had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.67 billion. Coty had a net margin of 2.78% and a return on equity of 9.14%. The business’s revenue was up 1.8% compared to the same quarter last year. During the same period last year, the company earned $0.09 EPS. As a group, analysts expect that Coty will post 0.55 earnings per share for the current year.

Institutional Investors Weigh In On Coty

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. M&G Plc raised its stake in Coty by 41.4% in the second quarter. M&G Plc now owns 509,694 shares of the company’s stock valued at $5,097,000 after buying an additional 149,351 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in Coty by 733.0% in the second 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 last quarter. Compass Wealth Management LLC raised its stake in Coty by 12.6% in the third quarter. Compass Wealth Management LLC now owns 590,725 shares of the company’s stock valued at $5,547,000 after buying an additional 65,900 shares during the last quarter. Renaissance Technologies LLC raised its stake in Coty by 40.2% in the second quarter. Renaissance Technologies LLC now owns 522,630 shares of the company’s stock valued at $5,237,000 after buying an additional 149,900 shares during the last quarter. Finally, Savoir Faire Capital Management L.P. raised its stake in Coty by 50.9% in the second quarter. Savoir Faire Capital Management L.P. now owns 440,607 shares of the company’s stock valued at $4,415,000 after buying an additional 148,607 shares during the last quarter. 42.36% of the stock is currently owned by hedge funds and other institutional investors.

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.