Wells Fargo & Company Issues Pessimistic Forecast for Coty (NYSE:COTY) Stock Price

Coty (NYSE:COTY) had its target price lowered by Wells Fargo & Company from $9.00 to $7.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective indicates a potential upside of 2.79% from the company’s current price.

A number of other brokerages have also weighed in on COTY. Citigroup dropped their target price on shares of Coty from $10.50 to $10.00 and set a “neutral” rating for the company in a research report on Monday, October 14th. Raymond James dropped their price objective on shares of Coty from $13.00 to $11.00 and set an “outperform” rating for the company in a report on Friday, November 8th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $14.00 target price on shares of Coty in a report on Tuesday, October 15th. Barclays downgraded Coty from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $8.00 to $7.00 in a research report on Thursday, November 7th. Finally, TD Cowen cut Coty from a “buy” rating to a “hold” rating and cut their price target for the company from $11.00 to $8.50 in a report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $11.29.

Coty Price Performance

NYSE:COTY opened at $6.81 on Tuesday. The business’s 50-day simple moving average is $7.30 and its two-hundred day simple moving average is $8.59. Coty has a 52 week low of $6.69 and a 52 week high of $13.30. The stock has a market cap of $5.92 billion, a PE ratio of 40.06, a P/E/G ratio of 0.75 and a beta of 1.89. The company has a quick ratio of 0.55, a current ratio of 0.85 and a debt-to-equity ratio of 0.93.

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

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Blue Trust Inc. raised its holdings in shares of Coty by 330.3% in the third quarter. Blue Trust Inc. now owns 3,107 shares of the company’s stock worth $31,000 after buying an additional 2,385 shares during the period. Virtu Financial LLC purchased a new stake in Coty in the third quarter worth $96,000. Capstone Investment Advisors LLC purchased a new stake in Coty in the third quarter worth $109,000. Quadrature Capital Ltd bought a new stake in shares of Coty during the third quarter worth $124,000. Finally, American Century Companies Inc. boosted its stake in shares of Coty by 10.6% during the second 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 period. Hedge funds and other institutional investors 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.