Coty (NYSE:COTY) Rating Lowered to Hold at TD Cowen

Coty (NYSE:COTY) was downgraded by TD Cowen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, MarketBeat.com reports. They currently have a $8.50 price objective on the stock, down from their previous price objective of $11.00. TD Cowen’s target price suggests a potential upside of 12.06% from the stock’s previous close.

Several other analysts have also recently commented on the company. Wells Fargo & Company dropped their price target on Coty from $10.00 to $9.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 15th. Citigroup dropped their target price on shares of Coty from $10.50 to $10.00 and set a “neutral” rating for the company in a report on Monday, October 14th. Jefferies Financial Group decreased their price target on shares of Coty from $12.00 to $11.00 and set a “buy” rating on the stock in a research note on Wednesday, October 16th. Raymond James lowered their price target on shares of Coty from $13.00 to $11.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Coty from $11.00 to $10.00 and set a “neutral” rating for the company in a report on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $11.56.

Coty Stock Performance

NYSE:COTY opened at $7.59 on Wednesday. The company has a fifty day moving average of $8.46 and a two-hundred day moving average of $9.50. Coty has a fifty-two week low of $7.02 and a fifty-two week high of $13.30. The stock has a market capitalization of $6.58 billion, a PE ratio of 44.62, a P/E/G ratio of 0.73 and a beta of 1.91. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.55 and a current ratio of 0.85.

Coty (NYSE:COTY) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.04). Coty had a net margin of 2.78% and a return on equity of 9.16%. The company had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.67 billion. During the same period in the prior year, the business posted $0.09 earnings per share. The company’s quarterly revenue was up 1.8% compared to the same quarter last year. As a group, research analysts forecast that Coty will post 0.52 earnings per share for the current fiscal year.

Institutional Trading of Coty

Several institutional investors and hedge funds have recently bought and sold shares of COTY. Capstone Investment Advisors LLC acquired a new stake in shares of Coty during the third quarter valued at about $109,000. Lazard Freres Gestion S.A.S. purchased a new position in shares of Coty during the 3rd quarter worth approximately $394,000. Citigroup Inc. increased its holdings in Coty by 10.8% in the 3rd quarter. Citigroup Inc. now owns 569,441 shares of the company’s stock valued at $5,347,000 after purchasing an additional 55,581 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Coty by 0.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,901,380 shares of the company’s stock valued at $27,244,000 after purchasing an additional 14,075 shares during the period. Finally, Banco Santander S.A. lifted its stake in Coty by 0.3% during the third quarter. Banco Santander S.A. now owns 23,112,758 shares of the company’s stock worth $217,029,000 after purchasing an additional 79,180 shares in the last quarter. 42.36% of the stock is currently owned by hedge funds and other institutional investors.

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.