Coty (NYSE:COTY) Stock Price Down 4.5% – Here’s Why

Shares of Coty (NYSE:COTY) dropped 4.5% during mid-day trading on Wednesday. The stock traded as low as $4.13 and last traded at $4.1350. 1,470,481 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 8,700,063 shares. The stock had previously closed at $4.33.

Analyst Ratings Changes

Several research firms recently commented on COTY. Wall Street Zen raised Coty from a “hold” rating to a “buy” rating in a report on Saturday. Citigroup boosted their price target on Coty from $2.80 to $3.00 and gave the company a “neutral” rating in a report on Wednesday, October 14th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $3.00 price objective on shares of Coty in a research report on Friday, August 21st. Zacks Research raised shares of Coty from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 5th. Finally, TD Cowen began coverage on shares of Coty in a research note on Friday, October 30th. They set a “hold” rating on the stock. One investment analyst has rated the stock with a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Coty currently has an average rating of “Reduce” and an average target price of $3.35.

Coty Price Performance

The company has a quick ratio of 0.45, a current ratio of 0.75 and a debt-to-equity ratio of 0.84. The firm has a market capitalization of $3.65 billion, a PE ratio of -6.36, a PEG ratio of 0.65 and a beta of 0.83. The stock has a 50-day moving average price of $3.00 and a 200 day moving average price of $2.56.

Coty (NYSE:COTY) last released its quarterly earnings results on Wednesday, November 4th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.04. The firm had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.53 billion. Coty had a negative net margin of 9.74% and a positive return on equity of 7.11%. The firm’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.12 EPS. Equities analysts forecast that Coty will post 0.34 EPS for the current fiscal year.

Hedge Funds Weigh In On Coty

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Public Sector Pension Investment Board grew its position in shares of Coty by 1.4% in the third quarter. Public Sector Pension Investment Board now owns 1,287,756 shares of the company’s stock valued at $3,361,000 after purchasing an additional 17,287 shares during the period. Hantz Financial Services Inc. raised its position in shares of Coty by 4.6% during the 3rd quarter. Hantz Financial Services Inc. now owns 85,705 shares of the company’s stock worth $224,000 after purchasing an additional 3,805 shares during the last quarter. Royce & Associates LP lifted its stake in Coty by 495.9% in the 3rd quarter. Royce & Associates LP now owns 2,979,390 shares of the company’s stock valued at $7,776,000 after buying an additional 2,479,390 shares in the last quarter. Fifth Third Bancorp boosted its holdings in Coty by 4.0% in the 3rd quarter. Fifth Third Bancorp now owns 89,855 shares of the company’s stock worth $235,000 after buying an additional 3,424 shares during the last quarter. Finally, Maryland State Retirement & Pension System boosted its holdings in Coty by 52.2% in the 3rd quarter. Maryland State Retirement & Pension System now owns 84,161 shares of the company’s stock worth $220,000 after buying an additional 28,874 shares during the last quarter. 42.36% of the stock is owned by hedge funds and other institutional investors.

Coty Company Profile

Coty is a global beauty company that develops, manufactures, markets and distributes fragrances, cosmetics, skin care and body-care products. Its portfolio spans prestige and consumer beauty, with products sold in markets around the world. The company’s brands include CoverGirl, Rimmel London, Max Factor and Sally Hansen. Coty also produces fragrances and beauty products under license for a range of fashion and lifestyle brands. Founded in Paris in 1904 by perfumer François Coty, the company has grown from a fragrance business into a broad-based beauty group.