Piper Sandler Has Lowered Expectations for Coty (NYSE:COTY) Stock Price

Coty (NYSE:COTY) had its price target dropped by Piper Sandler from $9.00 to $8.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Piper Sandler’s price target would indicate a potential upside of 39.98% from the company’s previous close.

Several other analysts have also recently issued reports on COTY. Evercore ISI cut their price target on shares of Coty from $15.00 to $10.00 and set an “outperform” rating on the stock in a report on Wednesday, February 12th. Raymond James dropped their target price on shares of Coty from $13.00 to $11.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. Canaccord Genuity Group dropped their target price on shares of Coty from $10.00 to $8.00 and set a “buy” rating on the stock in a report on Wednesday, February 12th. TD Cowen cut shares of Coty from a “buy” rating to a “hold” rating and dropped their target price for the stock from $11.00 to $8.50 in a report on Wednesday, November 13th. Finally, Stifel Nicolaus dropped their target price on shares of Coty from $8.50 to $8.00 and set a “hold” rating on the stock in a report on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, Coty currently has an average rating of “Moderate Buy” and a consensus target price of $9.89.

Coty Trading Up 1.2 %

COTY opened at $5.72 on Monday. The stock has a market capitalization of $4.98 billion, a PE ratio of -571.50, a P/E/G ratio of 0.81 and a beta of 1.89. The firm’s fifty day moving average price is $6.81 and its 200 day moving average price is $7.86. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.71 and a quick ratio of 0.45. Coty has a 12-month low of $5.42 and a 12-month high of $13.30.

Coty (NYSE:COTY) last posted its quarterly earnings results on Monday, February 10th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.11). Coty had a net margin of 0.22% and a return on equity of 6.34%. As a group, research analysts expect that Coty will post 0.39 EPS for the current fiscal year.

Hedge Funds Weigh In On Coty

A number of institutional investors and hedge funds have recently bought and sold shares of COTY. Norges Bank bought a new position in Coty in the 4th quarter valued at about $44,401,000. Amundi grew its position in Coty by 1,990,624.9% in the 4th quarter. Amundi now owns 4,479,131 shares of the company’s stock valued at $30,503,000 after buying an additional 4,478,906 shares in the last quarter. Man Group plc bought a new position in Coty in the 4th quarter valued at about $28,473,000. Caisse Des Depots ET Consignations bought a new position in Coty in the 4th quarter valued at about $19,663,000. Finally, Ameriprise Financial Inc. grew its position in Coty by 12.1% in the 4th quarter. Ameriprise Financial Inc. now owns 20,214,382 shares of the company’s stock valued at $140,691,000 after buying an additional 2,175,120 shares in the last quarter. 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.