Coty (NYSE:COTY) Trading Down 5.1% After Analyst Downgrade

Coty Inc. (NYSE:COTY) shares were down 5.1% on Wednesday after The Goldman Sachs Group lowered their price target on the stock from $9.00 to $8.00. The Goldman Sachs Group currently has a neutral rating on the stock. Coty traded as low as $5.82 and last traded at $5.83. Approximately 2,884,451 shares changed hands during trading, a decline of 51% from the average daily volume of 5,861,950 shares. The stock had previously closed at $6.14.

Other research analysts have also recently issued reports about the stock. Canaccord Genuity Group decreased their price objective on shares of Coty from $10.00 to $8.00 and set a “buy” rating for the company in a report on Wednesday. Barclays cut their target price on shares of Coty from $7.00 to $6.00 and set an “underweight” rating for the company in a research report on Friday, January 17th. Evercore ISI lowered their price target on Coty from $15.00 to $10.00 and set an “outperform” rating on the stock in a report on Wednesday. Deutsche Bank Aktiengesellschaft dropped their price target on Coty from $14.00 to $12.00 and set a “buy” rating on the stock in a research note on Wednesday, October 16th. Finally, JPMorgan Chase & Co. reduced their price objective on Coty from $11.00 to $10.00 and set a “neutral” rating for the company in a research report on Tuesday, October 15th. One 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. According to MarketBeat.com, Coty has an average rating of “Moderate Buy” and a consensus target price of $10.17.

Institutional Investors Weigh In On Coty

A number of institutional investors have recently bought and sold shares of COTY. State Street Corp grew its holdings in Coty by 2.3% during the 3rd quarter. State Street Corp now owns 11,043,208 shares of the company’s stock valued at $103,696,000 after buying an additional 251,964 shares in the last quarter. Barclays PLC boosted its position in shares of Coty by 147.1% during the third quarter. Barclays PLC now owns 1,165,806 shares of the company’s stock worth $10,947,000 after acquiring an additional 693,961 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Coty by 16.8% during the third quarter. JPMorgan Chase & Co. now owns 743,445 shares of the company’s stock valued at $6,981,000 after acquiring an additional 107,014 shares in the last quarter. Compass Wealth Management LLC increased its holdings in Coty by 12.6% in the 3rd quarter. Compass Wealth Management LLC now owns 590,725 shares of the company’s stock valued at $5,547,000 after acquiring an additional 65,900 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Coty in the 3rd quarter worth $3,681,000. Hedge funds and other institutional investors own 42.36% of the company’s stock.

Coty Stock Performance

The firm has a market cap of $4.94 billion, a PE ratio of 33.41, a PEG ratio of 0.72 and a beta of 1.89. The firm’s 50 day simple moving average is $7.13 and its 200 day simple moving average is $8.08. The company has a current ratio of 0.85, a quick ratio of 0.55 and a debt-to-equity ratio of 0.93.

Coty (NYSE:COTY) last posted its earnings results on Monday, February 10th. The company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.11). Coty had a return on equity of 9.16% and a net margin of 2.78%. On average, research analysts forecast that Coty Inc. will post 0.51 EPS for the current fiscal 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.