Coty (NYSE:COTY) Reaches New 52-Week Low – What’s Next?

Coty Inc. (NYSE:COTY) shares reached a new 52-week low on Monday . The company traded as low as $6.80 and last traded at $6.89, with a volume of 424490 shares trading hands. The stock had previously closed at $6.99.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on COTY. The Goldman Sachs Group began coverage on Coty in a research note on Friday, December 13th. They issued a “neutral” rating and a $9.00 price target for the company. Raymond James cut their target price on Coty from $13.00 to $11.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Jefferies Financial Group lowered their price target on Coty from $12.00 to $11.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. Citigroup reduced their price objective on shares of Coty from $10.50 to $10.00 and set a “neutral” rating on the stock in a research report on Monday, October 14th. Finally, Wells Fargo & Company dropped their target price on shares of Coty from $10.00 to $9.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, Coty currently has an average rating of “Moderate Buy” and an average price target of $11.41.

Coty Trading Down 1.4 %

The company has a 50-day moving average of $7.40 and a 200 day moving average of $8.74. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.85 and a quick ratio of 0.55. The company has a market cap of $5.99 billion, a PE ratio of 40.53, a price-to-earnings-growth ratio of 0.75 and a beta of 1.89.

Coty (NYSE:COTY) last released its earnings results 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 company had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.67 billion. Coty had a net margin of 2.78% and a return on equity of 9.16%. The business’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.09 EPS. Analysts predict that Coty Inc. will post 0.51 earnings per share for the current year.

Institutional Trading of Coty

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Point72 Asset Management L.P. raised its holdings in shares of Coty by 789.3% in the second quarter. Point72 Asset Management L.P. now owns 5,582,064 shares of the company’s stock worth $55,932,000 after buying an additional 4,954,362 shares during the period. SG Americas Securities LLC increased its stake in Coty by 1,798.5% in the third quarter. SG Americas Securities LLC now owns 1,847,328 shares of the company’s stock worth $17,346,000 after purchasing an additional 1,750,021 shares during the period. Vaughan Nelson Investment Management L.P. boosted its stake in shares of Coty by 42.6% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 5,642,602 shares of the company’s stock valued at $52,984,000 after purchasing an additional 1,687,045 shares during the period. Dimensional Fund Advisors LP increased its stake in Coty by 10.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 9,387,661 shares of the company’s stock worth $94,068,000 after buying an additional 890,626 shares during the period. Finally, Armistice Capital LLC bought a new stake in Coty during the 2nd quarter valued at about $8,883,000. 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.