Morgan Stanley Has Lowered Expectations for Coty (NYSE:COTY) Stock Price

Coty (NYSE:COTY) had its target price cut by equities researchers at Morgan Stanley from $9.00 to $7.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s target price points to a potential upside of 21.87% from the stock’s current price.

Several other analysts also recently weighed in on COTY. JPMorgan Chase & Co. cut their price target on Coty from $11.00 to $10.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 15th. Royal Bank of Canada reissued an “outperform” rating and set a $14.00 price target on shares of Coty in a report on Tuesday, October 15th. Wells Fargo & Company lowered their price target on Coty from $9.00 to $7.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. TD Cowen cut Coty from a “buy” rating to a “hold” rating and decreased their target price for the stock from $11.00 to $8.50 in a report on Wednesday, November 13th. Finally, Stifel Nicolaus decreased their target price on Coty from $8.50 to $8.00 and set a “hold” rating on the stock in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, Coty presently has an average rating of “Moderate Buy” and a consensus target price of $10.17.

Coty Stock Up 1.1 %

COTY stock opened at $5.74 on Wednesday. Coty has a fifty-two week low of $5.64 and a fifty-two week high of $13.30. The business’s 50 day moving average price is $7.09 and its two-hundred day moving average price is $8.07. 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 company has a market capitalization of $5.00 billion, a price-to-earnings ratio of 33.79, a price-to-earnings-growth ratio of 0.72 and a beta of 1.89.

Coty (NYSE:COTY) last posted its quarterly earnings results on Monday, February 10th. The company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.11). Coty had a return on equity of 9.16% and a net margin of 2.78%. As a group, analysts forecast that Coty will post 0.51 earnings per share for the current fiscal year.

Institutional Trading of Coty

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Norges Bank bought a new stake in Coty during the fourth quarter valued at about $44,401,000. Amundi raised its stake in shares of Coty by 1,990,624.9% in the fourth quarter. Amundi now owns 4,479,131 shares of the company’s stock worth $30,503,000 after purchasing an additional 4,478,906 shares during the last quarter. Caisse Des Depots ET Consignations purchased a new position in shares of Coty in the fourth quarter worth about $19,663,000. Vaughan Nelson Investment Management L.P. raised its stake in shares of Coty by 42.6% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 5,642,602 shares of the company’s stock worth $52,984,000 after purchasing an additional 1,687,045 shares during the last quarter. Finally, Thrivent Financial for Lutherans raised its position in Coty by 25.5% during the fourth quarter. Thrivent Financial for Lutherans now owns 8,096,912 shares of the company’s stock valued at $56,354,000 after acquiring an additional 1,646,839 shares in the last quarter. Hedge funds and other institutional investors own 42.36% of the company’s stock.

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.