Citigroup Upgrades Coty (NYSE:COTY) to “Buy”

Coty (NYSE:COTY) was upgraded by research analysts at Citigroup from a “neutral” rating to a “buy” rating in a note issued to investors on Thursday, MarketBeat Ratings reports. The brokerage currently has a $8.00 price objective on the stock, up from their prior price objective of $7.00. Citigroup’s price target would indicate a potential upside of 44.01% from the stock’s previous close.

COTY has been the topic of several other research reports. Barclays lowered their target price on Coty from $7.00 to $6.00 and set an “underweight” rating on the stock in a research note on Friday, January 17th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $13.00 target price on shares of Coty in a research note on Wednesday, February 12th. Wells Fargo & Company reduced their price target on Coty from $9.00 to $7.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. Canaccord Genuity Group reduced their price target on Coty from $10.00 to $8.00 and set a “buy” rating for the company in a report on Wednesday, February 12th. Finally, DA Davidson reiterated a “buy” rating and set a $12.50 price target on shares of Coty in a report on Thursday, February 6th. One analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $9.78.

Coty Trading Down 1.3 %

Shares of COTY opened at $5.56 on Thursday. The business’s 50-day moving average price is $6.29 and its 200 day moving average price is $7.36. The stock has a market capitalization of $4.84 billion, a P/E ratio of -555.50, a P/E/G ratio of 0.81 and a beta of 1.97. Coty has a 1-year low of $5.35 and a 1-year high of $11.99. The company has a current ratio of 0.71, a quick ratio of 0.45 and a debt-to-equity ratio of 0.85.

Coty (NYSE:COTY) last released its 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 net margin of 0.22% and a return on equity of 6.34%. Analysts expect that Coty will post 0.39 earnings per share for the current year.

Institutional Investors Weigh In On Coty

Several institutional investors and hedge funds have recently added to or reduced their stakes in COTY. Norges Bank acquired a new stake in Coty in the 4th quarter worth approximately $44,401,000. Amundi lifted its holdings in Coty by 1,990,624.9% in the 4th 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. Man Group plc acquired a new position in shares of Coty during the fourth quarter worth approximately $28,473,000. Caisse Des Depots ET Consignations acquired a new position in shares of Coty during the fourth quarter worth approximately $19,663,000. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Coty by 12.1% during the fourth quarter. Ameriprise Financial Inc. now owns 20,214,382 shares of the company’s stock worth $140,691,000 after buying an additional 2,175,120 shares during the last quarter. 42.36% of the stock is currently owned by institutional investors and hedge funds.

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.