Coty Inc. (COTY) Earns Equal Weight Rating from Barclays PLC
Coty Inc. (NYSE:COTY)‘s stock had its “equal weight” rating restated by research analysts at Barclays PLC in a report issued on Monday. They presently have a $28.00 price objective on the stock. Barclays PLC’s price objective would indicate a potential upside of 19.71% from the company’s previous close.
Several other analysts have also recently commented on the company. Zacks Investment Research upgraded Coty from a “hold” rating to a “strong-buy” rating and set a $27.00 target price on the stock in a report on Thursday, September 22nd. Bank of America Corp. upgraded Coty from a “neutral” rating to a “buy” rating and set a $28.00 price target on the stock in a report on Monday, October 3rd. B. Riley upgraded Coty from a “sell” rating to a “neutral” rating and raised their price target for the company from $21.50 to $23.25 in a report on Thursday, September 29th. Deutsche Bank AG reiterated a “buy” rating and issued a $32.00 price target on shares of Coty in a report on Thursday, August 18th. Finally, Berenberg Bank assumed coverage on Coty in a report on Friday, September 9th. They issued a “sell” rating and a $23.00 price target on the stock. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $27.75.
Shares of Coty (NYSE:COTY) traded up 0.21% during midday trading on Monday, reaching $23.39. 10,335,465 shares of the company’s stock traded hands. The stock’s 50 day moving average price is $24.39 and its 200 day moving average price is $26.67. Coty has a 52-week low of $21.48 and a 52-week high of $31.60. The firm has a market capitalization of $7.86 billion, a P/E ratio of 53.16 and a beta of 0.42.
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Coty (NYSE:COTY) last announced its earnings results on Tuesday, August 16th. The company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.06 by $0.07. The company had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.05 billion. Coty had a return on equity of 80.72% and a net margin of 3.61%. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.08 earnings per share. On average, equities research analysts anticipate that Coty will post $1.11 EPS for the current fiscal year.
In other Coty news, major shareholder Cosmetics B.V. Jab purchased 175,000 shares of the company’s stock in a transaction dated Monday, August 22nd. The shares were bought at an average price of $29.04 per share, with a total value of $5,082,000.00. Following the completion of the transaction, the insider now directly owns 7,831,672 shares in the company, valued at approximately $227,431,754.88. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 16.10% of the stock is owned by company insiders.
Several large investors have recently added to or reduced their stakes in COTY. Janus Capital Management acquired a new stake in Coty during the third quarter worth approximately $7,542,000. Crestpoint Capital Management raised its stake in Coty by 12.2% in the fourth quarter. Crestpoint Capital Management now owns 12,900 shares of the company’s stock worth $331,000 after buying an additional 1,400 shares in the last quarter. Quotient Investors raised its stake in Coty by 1,012.0% in the fourth quarter. Quotient Investors now owns 96,744 shares of the company’s stock worth $2,480,000 after buying an additional 88,044 shares in the last quarter. Country Club Trust Company n.a. acquired a new stake in Coty during the fourth quarter worth approximately $720,000. Finally, First Quadrant L P CA raised its stake in Coty by 11.8% in the fourth quarter. First Quadrant L P CA now owns 437,800 shares of the company’s stock worth $11,221,000 after buying an additional 46,100 shares in the last quarter. 17.50% of the stock is currently owned by institutional investors.
Coty Inc is a beauty company. The Company operates through four segments: Fragrances, Color Cosmetics, Skin & Body Care and Brazil Acquisition. Its fragrance products include a range of men’s and women’s products. Its fragrance brands include Calvin Klein, Marc Jacobs, Davidoff, Chloe, Balenciaga, Beyonce, Bottega Veneta, Miu Miu and Roberto Cavalli.
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