Coty (NYSE:COTY) Sets New 12-Month Low After Analyst Downgrade

Shares of Coty Inc. (NYSE:COTY) hit a new 52-week low during mid-day trading on Tuesday after Raymond James lowered their price target on the stock from $14.00 to $13.00. Raymond James currently has an outperform rating on the stock. Coty traded as low as $8.18 and last traded at $8.19, with a volume of 2025392 shares traded. The stock had previously closed at $9.17.

Other equities research analysts also recently issued reports about the stock. Evercore ISI restated an “outperform” rating and set a $15.00 price objective on shares of Coty in a research report on Wednesday, August 21st. Canaccord Genuity Group reiterated a “buy” rating and issued a $14.00 price target on shares of Coty in a research report on Tuesday. Citigroup dropped their price target on shares of Coty from $10.50 to $10.00 and set a “neutral” rating for the company in a research report on Monday. JPMorgan Chase & Co. dropped their price target on shares of Coty from $11.00 to $10.00 and set a “neutral” rating for the company in a research report on Tuesday. Finally, Barclays dropped their price target on shares of Coty from $11.00 to $10.00 and set an “equal weight” rating for the company in a research report on Thursday, August 22nd. Seven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Coty presently has an average rating of “Moderate Buy” and an average price target of $12.50.

Institutional Trading of Coty

A number of hedge funds and other institutional investors have recently modified their holdings of COTY. Vanguard Group Inc. grew its stake in shares of Coty by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 39,776,331 shares of the company’s stock worth $494,022,000 after buying an additional 494,639 shares during the last quarter. Nomura Holdings Inc. bought a new stake in shares of Coty during the fourth quarter worth $1,533,000. Fulton Bank N.A. grew its stake in shares of Coty by 73.6% during the first quarter. Fulton Bank N.A. now owns 18,238 shares of the company’s stock worth $218,000 after buying an additional 7,730 shares during the last quarter. Vaughan Nelson Investment Management L.P. grew its stake in shares of Coty by 78.4% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 3,174,872 shares of the company’s stock worth $37,972,000 after buying an additional 1,395,230 shares during the last quarter. Finally, State of Michigan Retirement System grew its stake in shares of Coty by 2.7% during the first quarter. State of Michigan Retirement System now owns 92,298 shares of the company’s stock worth $1,104,000 after buying an additional 2,400 shares during the last quarter. Institutional investors own 42.36% of the company’s stock.

Coty Trading Down 10.7 %

The company has a quick ratio of 0.46, a current ratio of 0.75 and a debt-to-equity ratio of 0.96. The stock has a market cap of $7.10 billion, a P/E ratio of 35.61, a PEG ratio of 0.67 and a beta of 1.89. The business’s 50 day simple moving average is $9.28 and its two-hundred day simple moving average is $10.05.

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

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.