Barclays Cuts Coty (NYSE:COTY) Price Target to $6.00

Coty (NYSE:COTY) had its target price lowered by Barclays from $7.00 to $6.00 in a report issued on Friday,Benzinga reports. The firm currently has an underweight rating on the stock.

COTY has been the subject of several other reports. Stifel Nicolaus cut their price target on shares of Coty from $11.00 to $10.00 and set a “hold” rating for the company in a report on Tuesday, October 15th. Deutsche Bank Aktiengesellschaft cut their target price on Coty from $14.00 to $12.00 and set a “buy” rating for the company in a research note on Wednesday, October 16th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $14.00 price objective on shares of Coty in a report on Tuesday, October 15th. Citigroup reduced their target price on Coty from $10.50 to $10.00 and set a “neutral” rating for the company in a report on Monday, October 14th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $14.00 price target on shares of Coty in a research note on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, Coty has an average rating of “Moderate Buy” and an average target price of $11.24.

Coty Price Performance

Shares of NYSE:COTY opened at $7.15 on Friday. Coty has a one year low of $6.59 and a one year high of $13.30. The stock has a market capitalization of $6.22 billion, a price-to-earnings ratio of 42.04, a PEG ratio of 0.67 and a beta of 1.89. The company has a 50-day simple moving average of $7.21 and a 200-day simple moving average of $8.42. 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 posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.15 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $1.67 billion. During the same period in the prior year, the company earned $0.09 earnings per share. The firm’s revenue was up 1.8% on a year-over-year basis. On average, analysts predict that Coty will post 0.51 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Banco Santander S.A. grew its stake in Coty by 0.3% in the 3rd quarter. Banco Santander S.A. now owns 23,112,758 shares of the company’s stock worth $217,029,000 after acquiring an additional 79,180 shares during the period. State Street Corp grew its position in shares of Coty by 2.3% in the third quarter. State Street Corp now owns 11,043,208 shares of the company’s stock valued at $103,696,000 after purchasing an additional 251,964 shares during the period. Dimensional Fund Advisors LP increased its stake in Coty by 10.5% in the second quarter. Dimensional Fund Advisors LP now owns 9,387,661 shares of the company’s stock valued at $94,068,000 after purchasing an additional 890,626 shares during the last quarter. Thrivent Financial for Lutherans lifted its position in Coty by 11.3% during the third quarter. Thrivent Financial for Lutherans now owns 6,450,073 shares of the company’s stock worth $60,566,000 after buying an additional 656,952 shares during the period. Finally, Vaughan Nelson Investment Management L.P. lifted its position in Coty by 42.6% during 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 buying an additional 1,687,045 shares during the period. Institutional investors and hedge funds own 42.36% of the company’s stock.

About Coty

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.