Coty (NYSE:COTY) Coverage Initiated at The Goldman Sachs Group

The Goldman Sachs Group began coverage on shares of Coty (NYSE:COTY) in a research note published on Friday, Marketbeat reports. The firm issued a neutral rating and a $9.00 price objective on the stock.

A number of other equities analysts also recently weighed in on COTY. Citigroup reduced their price target on Coty from $10.50 to $10.00 and set a “neutral” rating for the company in a research report on Monday, October 14th. TD Cowen downgraded shares of Coty from a “buy” rating to a “hold” rating and decreased their target price for the company from $11.00 to $8.50 in a research report on Wednesday, November 13th. JPMorgan Chase & Co. cut their price target on shares of Coty from $11.00 to $10.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 15th. Royal Bank of Canada restated an “outperform” rating and set a $14.00 price objective on shares of Coty in a research note on Tuesday, October 15th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $14.00 target price on shares of Coty in a research report on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Coty presently has a consensus rating of “Moderate Buy” and an average price target of $11.41.

Coty Stock Performance

Shares of COTY opened at $7.50 on Friday. The firm has a market cap of $6.52 billion, a P/E ratio of 44.12, a PEG ratio of 0.75 and a beta of 1.89. Coty has a twelve month low of $6.93 and a twelve month high of $13.30. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.55 and a current ratio of 0.85. The firm’s 50 day moving average price is $7.70 and its two-hundred day moving average price is $8.95.

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

Hedge Funds Weigh In On Coty

Several large investors have recently modified their holdings of COTY. Envestnet Portfolio Solutions Inc. raised its holdings in Coty by 9.8% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 12,388 shares of the company’s stock valued at $124,000 after acquiring an additional 1,104 shares during the period. Assenagon Asset Management S.A. increased its stake in shares of Coty by 733.0% during the second quarter. Assenagon Asset Management S.A. now owns 1,900,000 shares of the company’s stock worth $19,038,000 after purchasing an additional 1,671,897 shares during the period. TCW Group Inc. lifted its holdings in Coty by 162.5% during the 2nd quarter. TCW Group Inc. now owns 1,154,324 shares of the company’s stock worth $11,566,000 after purchasing an additional 714,592 shares during the last quarter. Raymond James & Associates lifted its holdings in Coty by 6.5% during the 2nd quarter. Raymond James & Associates now owns 307,988 shares of the company’s stock worth $3,086,000 after purchasing an additional 18,861 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. boosted its stake in Coty by 24.6% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 3,955,557 shares of the company’s stock valued at $39,634,000 after purchasing an additional 780,685 shares during the period. 42.36% of the stock is owned by 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.