Wells Fargo & Company Lowers Coty (NYSE:COTY) Price Target to $9.00

Coty (NYSE:COTY) had its price target dropped by stock analysts at Wells Fargo & Company from $10.00 to $9.00 in a research report issued on Tuesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 12.71% from the company’s current price.

Several other analysts have also issued reports on the company. Bank of America reduced their target price on Coty from $15.00 to $14.00 and set a “buy” rating on the stock in a report on Wednesday, July 10th. DA Davidson raised their price objective on Coty from $16.50 to $17.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Evercore ISI reaffirmed an “outperform” rating and issued a $15.00 price objective on shares of Coty in a research note on Wednesday, August 21st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $14.00 price objective on shares of Coty in a research note on Tuesday. Finally, Stifel Nicolaus reduced their price objective on Coty from $11.00 to $10.00 and set a “hold” rating on the stock in a research note on Tuesday. Seven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $12.15.

Coty Stock Performance

COTY opened at $7.99 on Tuesday. The firm has a market cap of $6.93 billion, a P/E ratio of 34.72, a price-to-earnings-growth ratio of 0.67 and a beta of 1.89. Coty has a 52-week low of $7.95 and a 52-week high of $13.30. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.46 and a current ratio of 0.75. The business’s fifty day moving average is $9.23 and its 200-day moving average is $10.01.

Coty (NYSE:COTY) last released its earnings results on Tuesday, August 20th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.07). The company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.38 billion. Coty had a return on equity of 8.05% and a net margin of 1.46%. The business’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period last year, the company posted $0.01 earnings per share. Sell-side analysts expect that Coty will post 0.56 EPS for the current fiscal year.

Hedge Funds Weigh In On Coty

Hedge funds have recently made changes to their positions in the stock. Quent Capital LLC raised its position in shares of Coty by 1,448.8% during the second quarter. Quent Capital LLC now owns 5,142 shares of the company’s stock worth $52,000 after acquiring an additional 4,810 shares during the last quarter. WealthShield Partners LLC bought a new position in shares of Coty during the second quarter worth about $100,000. Fifth Third Wealth Advisors LLC bought a new position in shares of Coty during the second quarter worth about $107,000. Envestnet Portfolio Solutions Inc. raised its position in shares of Coty by 9.8% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 12,388 shares of the company’s stock worth $124,000 after acquiring an additional 1,104 shares during the last quarter. Finally, EntryPoint Capital LLC raised its position in shares of Coty by 260.4% during the first quarter. EntryPoint Capital LLC now owns 11,652 shares of the company’s stock worth $139,000 after acquiring an additional 8,419 shares during the last quarter. 42.36% of the stock is currently owned by 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.