Canaccord Genuity Group Reaffirms “Buy” Rating for Coty (NYSE:COTY)

Canaccord Genuity Group restated their buy rating on shares of Coty (NYSE:COTY) in a research note released on Tuesday morning, Benzinga reports. Canaccord Genuity Group currently has a $14.00 price target on the stock.

Several other research firms have also commented on COTY. Bank of America lowered their price target on shares of Coty from $15.00 to $14.00 and set a “buy” rating for the company in a research report on Wednesday, July 10th. Evercore ISI restated an “outperform” rating and issued a $15.00 target price on shares of Coty in a research report on Wednesday, August 21st. DA Davidson lifted their price target on Coty from $16.50 to $17.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. Stifel Nicolaus decreased their price objective on Coty from $11.00 to $10.00 and set a “hold” rating for the company in a report on Tuesday. Finally, Wells Fargo & Company lowered their target price on Coty from $10.00 to $9.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Seven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $12.15.

Coty Price Performance

COTY opened at $7.70 on Tuesday. 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 company’s 50-day moving average price is $9.17 and its 200 day moving average price is $9.97. Coty has a fifty-two week low of $7.66 and a fifty-two week high of $13.30. The firm has a market cap of $6.68 billion, a price-to-earnings ratio of 33.46, a price-to-earnings-growth ratio of 0.67 and a beta of 1.89.

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

Institutional Investors Weigh In On Coty

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Envestnet Portfolio Solutions Inc. increased its holdings in shares of Coty by 9.8% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 12,388 shares of the company’s stock valued at $124,000 after buying an additional 1,104 shares in the last quarter. American Century Companies Inc. raised its position in shares of Coty by 10.6% during the second quarter. American Century Companies Inc. now owns 14,746 shares of the company’s stock worth $148,000 after purchasing an additional 1,414 shares during the period. Avantax Advisory Services Inc. lifted its holdings in shares of Coty by 3.1% during the first quarter. Avantax Advisory Services Inc. now owns 65,960 shares of the company’s stock valued at $789,000 after purchasing an additional 2,012 shares during the last quarter. Swiss National Bank boosted its position in shares of Coty by 0.3% in the 1st quarter. Swiss National Bank now owns 792,401 shares of the company’s stock valued at $9,477,000 after purchasing an additional 2,300 shares during the period. Finally, Blue Trust Inc. increased its stake in Coty by 330.3% in the 3rd quarter. Blue Trust Inc. now owns 3,107 shares of the company’s stock worth $31,000 after purchasing an additional 2,385 shares in the last quarter. 42.36% of the stock is owned by institutional investors and hedge funds.

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.