Coty (NYSE:COTY) Earns Buy Rating from Canaccord Genuity Group

Canaccord Genuity Group reissued their buy rating on shares of Coty (NYSE:COTY) in a report published on Friday morning, Benzinga reports. Canaccord Genuity Group currently has a $14.00 target price on the stock.

COTY has been the topic of a number of other reports. DA Davidson increased their price objective on Coty from $16.50 to $17.00 and gave the company a buy rating in a report on Wednesday, August 21st. Stifel Nicolaus dropped their price target on shares of Coty from $12.00 to $11.00 and set a hold rating on the stock in a research note on Wednesday, August 21st. Citigroup reduced their target price on Coty from $12.00 to $11.00 and set a neutral rating for the company in a report on Wednesday, July 10th. Evercore ISI reissued an outperform rating and issued a $15.00 price target on shares of Coty in a research note on Wednesday, August 21st. Finally, Bank of America lowered their price objective on Coty from $15.00 to $14.00 and set a buy rating on the stock in a research note on Wednesday, July 10th. Eight investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of $12.85.

Coty Stock Performance

Shares of COTY stock opened at $9.11 on Friday. The company has a quick ratio of 0.46, a current ratio of 0.75 and a debt-to-equity ratio of 0.96. Coty has a 52 week low of $8.66 and a 52 week high of $13.30. The firm has a market capitalization of $7.91 billion, a price-to-earnings ratio of 39.61, a PEG ratio of 0.66 and a beta of 1.89. The stock has a fifty day moving average of $9.57 and a 200 day moving average of $10.51.

Coty (NYSE:COTY) last issued its quarterly earnings data on Tuesday, August 20th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.07). The business had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.38 billion. Coty had a net margin of 1.46% and a return on equity of 8.05%. The company’s revenue was up .9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.01 EPS. As a group, research analysts expect that Coty will post 0.56 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in COTY. Norges Bank bought a new stake in shares of Coty in the 4th quarter worth $67,193,000. Point72 Asset Management L.P. raised its stake in shares of Coty by 789.3% during the 2nd quarter. Point72 Asset Management L.P. now owns 5,582,064 shares of the company’s stock valued at $55,932,000 after purchasing an additional 4,954,362 shares during the period. Sea Cliff Partners Management LP purchased a new stake in shares of Coty in the fourth quarter worth about $24,803,000. Assenagon Asset Management S.A. boosted its holdings in Coty by 733.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,900,000 shares of the company’s stock valued at $19,038,000 after purchasing an additional 1,671,897 shares during the period. Finally, Prevatt Capital Ltd purchased a new position in Coty during the fourth quarter worth about $19,251,000. 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.