Coty (NYSE:COTY) Hits New 12-Month Low After Analyst Downgrade

Coty Inc. (NYSE:COTY) shares reached a new 52-week low on Wednesday after Wells Fargo & Company lowered their price target on the stock from $9.00 to $7.00. Wells Fargo & Company currently has an equal weight rating on the stock. Coty traded as low as $6.69 and last traded at $6.72, with a volume of 280695 shares traded. The stock had previously closed at $6.95.

A number of other equities research analysts also recently issued reports on COTY. The Goldman Sachs Group began coverage on shares of Coty in a research report on Friday, December 13th. They issued a “neutral” rating and a $9.00 price objective for the company. TD Cowen lowered Coty from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $11.00 to $8.50 in a report on Wednesday, November 13th. DA Davidson reiterated a “buy” rating and issued a $12.50 target price on shares of Coty in a research note on Wednesday, December 18th. JPMorgan Chase & Co. lowered their target price on shares of Coty from $11.00 to $10.00 and set a “neutral” rating on the stock in a report on Tuesday, October 15th. Finally, Barclays lowered Coty from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $8.00 to $7.00 in a report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, Coty currently has an average rating of “Moderate Buy” and an average price target of $11.29.

Institutional Trading of Coty

Institutional investors have recently made changes to their positions in the stock. Blue Trust Inc. raised its holdings in 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 purchasing an additional 2,385 shares in the last quarter. Virtu Financial LLC purchased a new position in shares of Coty during the third quarter valued at about $96,000. Capstone Investment Advisors LLC bought a new position in Coty in the third quarter worth about $109,000. Quadrature Capital Ltd bought a new position in Coty in the third quarter worth about $124,000. Finally, American Century Companies Inc. lifted its holdings in Coty by 10.6% in the second quarter. American Century Companies Inc. now owns 14,746 shares of the company’s stock worth $148,000 after buying an additional 1,414 shares during the period. Hedge funds and other institutional investors own 42.36% of the company’s stock.

Coty Stock Performance

The company has a 50-day simple moving average of $7.31 and a two-hundred day simple moving average of $8.62. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.55 and a current ratio of 0.85. The firm has a market capitalization of $5.87 billion, a P/E ratio of 39.71, a PEG ratio of 0.75 and a beta of 1.89.

Coty (NYSE:COTY) last released its quarterly earnings results 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). The firm had revenue of $1.67 billion for 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 9.16%. The company’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.09 earnings per share. As a group, equities analysts forecast that Coty Inc. will post 0.51 EPS for the current year.

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.