Wells Fargo & Company Cuts Coty (NYSE:COTY) Price Target to $7.00

Coty (NYSE:COTY) had its price objective trimmed by Wells Fargo & Company from $9.00 to $7.00 in a report published on Tuesday,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

A number of other research firms also recently issued reports on COTY. JPMorgan Chase & Co. cut their price target on Coty from $11.00 to $10.00 and set a “neutral” rating for the company in a research note on Tuesday, October 15th. TD Cowen lowered Coty from a “buy” rating to a “hold” rating and lowered their price target for the company from $11.00 to $8.50 in a research report on Wednesday, November 13th. Jefferies Financial Group cut their price objective on shares of Coty from $12.00 to $11.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. Canaccord Genuity Group reiterated a “buy” rating and issued a $14.00 target price on shares of Coty in a report on Tuesday, October 15th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of Coty from $14.00 to $12.00 and set a “buy” rating on the stock in a research report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $11.29.

Coty Price Performance

Shares of NYSE:COTY opened at $6.81 on Tuesday. Coty has a twelve month low of $6.69 and a twelve month high of $13.30. The stock’s 50 day moving average is $7.28 and its 200-day moving average is $8.58. The company has a quick ratio of 0.55, a current ratio of 0.85 and a debt-to-equity ratio of 0.93. The firm has a market capitalization of $5.92 billion, a price-to-earnings ratio of 40.06, a PEG ratio of 0.75 and a beta of 1.89.

Coty (NYSE:COTY) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.04). The business had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.67 billion. Coty had a return on equity of 9.16% and a net margin of 2.78%. The business’s quarterly revenue was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.09 EPS. Sell-side analysts forecast that Coty will post 0.51 EPS for the current fiscal year.

Institutional Investors Weigh In On Coty

Institutional investors have recently added to or reduced their stakes in the business. Blue Trust Inc. raised its position in shares of Coty by 330.3% in the third quarter. Blue Trust Inc. now owns 3,107 shares of the company’s stock valued at $31,000 after purchasing an additional 2,385 shares during the period. Virtu Financial LLC bought a new stake in Coty during the 3rd quarter valued at $96,000. Capstone Investment Advisors LLC bought a new stake in Coty during the 3rd quarter valued at $109,000. Quadrature Capital Ltd purchased a new stake in shares of Coty during the third quarter worth $124,000. Finally, American Century Companies Inc. boosted its holdings in shares of Coty by 10.6% in the second quarter. American Century Companies Inc. now owns 14,746 shares of the company’s stock worth $148,000 after acquiring an additional 1,414 shares during the period. 42.36% of the stock is owned by hedge funds and other institutional investors.

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.