Coty’s (COTY) “Equal Weight” Rating Reaffirmed at Barclays PLC
Coty Inc. (NYSE:COTY)‘s stock had its “equal weight” rating reiterated by equities research analysts at Barclays PLC in a research note issued to investors on Monday. They currently have a $28.00 target price on the stock. Barclays PLC’s price target indicates a potential upside of 19.71% from the stock’s current price.
A number of other equities analysts have also commented on the stock. Zacks Investment Research raised shares of Coty from a “hold” rating to a “strong-buy” rating and set a $27.00 target price on the stock in a research report on Thursday, September 22nd. Bank of America Corp. raised shares of Coty from a “neutral” rating to a “buy” rating and set a $28.00 price objective on the stock in a report on Monday, October 3rd. B. Riley raised shares of Coty from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $21.50 to $23.25 in a report on Thursday, September 29th. Deutsche Bank AG reissued a “buy” rating and set a $32.00 price objective on shares of Coty in a report on Thursday, August 18th. Finally, Berenberg Bank assumed coverage on shares of Coty in a report on Friday, September 9th. They set a “sell” rating and a $23.00 price objective on the stock. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target 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 were exchanged. The stock’s 50-day moving average is $24.39 and its 200 day moving average is $26.67. Coty has a one year low of $21.48 and a one year high of $31.60. The firm has a market cap of $7.86 billion, a PE ratio of 53.16 and a beta of 0.42.
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Coty (NYSE:COTY) last issued its earnings results on Tuesday, August 16th. The company reported $0.13 EPS for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.07. The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.05 billion. Coty had a net margin of 3.61% and a return on equity of 80.72%. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period last year, the company posted $0.08 earnings per share. Analysts anticipate that Coty will post $1.11 EPS for the current year.
In related news, major shareholder Cosmetics B.V. Jab acquired 525,000 shares of the stock in a transaction dated Monday, August 29th. The stock was acquired at an average cost of $27.66 per share, for a total transaction of $14,521,500.00. Following the completion of the purchase, the insider now owns 8,355,671 shares of the company’s stock, valued at approximately $231,117,859.86. The purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders own 16.10% of the company’s stock.
Large investors have recently bought and sold shares of the company. Globeflex Capital L P bought a new stake in Coty during the second quarter valued at approximately $156,000. FDx Advisors Inc. acquired a new position in shares of Coty during the second quarter valued at about $205,000. BlackRock Inc. boosted its position in shares of Coty by 324.8% in the first quarter. BlackRock Inc. now owns 8,696 shares of the company’s stock valued at $242,000 after buying an additional 6,649 shares during the period. Stifel Financial Corp boosted its position in shares of Coty by 2.3% in the second quarter. Stifel Financial Corp now owns 9,405 shares of the company’s stock valued at $245,000 after buying an additional 212 shares during the period. Finally, KCG Holdings Inc. acquired a new position in shares of Coty during the second quarter valued at about $273,000. Institutional investors and hedge funds own 17.50% of the company’s stock.
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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