Coty Inc. (COTY) Downgraded by Zacks Investment Research to Hold
Coty Inc. (NYSE:COTY) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report issued on Tuesday.
According to Zacks, “Coty Inc. is involved in the manufacturing, marketing and distribution of beauty products. It operates in three segments: Fragrances, Colour Cosmetics and Skin & Body Care. The Company’s brand consists of adidas, Calvin Klein, Chloe, Davidoff, Marc Jacobs, OPI, philosophy, Playboy, Rimmel and Sally Hansen. It sells the products through department stores, specialty retailers, perfumeries and pharmacies, mass-market retailers and duty-free shops in airports and cities and e-commerce channels. Coty Inc. is headquartered in New York. “
A number of other equities analysts have also weighed in on the company. Bank of America Corp. raised Coty from a “neutral” rating to a “buy” rating and set a $28.00 target price on the stock in a research report on Monday, October 3rd. B. Riley raised Coty from a “sell” rating to a “neutral” rating and upped their target price for the stock from $21.50 to $23.25 in a research report on Thursday, September 29th. Deutsche Bank AG reaffirmed a “buy” rating and set a $32.00 target price on shares of Coty in a research report on Thursday, August 18th. Berenberg Bank started coverage on Coty in a research report on Friday, September 9th. They set a “sell” rating and a $23.00 target price on the stock. Finally, Barclays PLC reaffirmed an “equal weight” rating and set a $28.00 target price on shares of Coty in a research report on Monday. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company’s stock. Coty has an average rating of “Hold” and a consensus target price of $27.75.
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Shares of Coty (NYSE:COTY) traded up 0.17% on Tuesday, hitting $23.43. 8,434,610 shares of the stock traded hands. Coty has a 1-year low of $21.48 and a 1-year high of $31.60. The stock has a 50 day moving average of $24.36 and a 200-day moving average of $26.65. The stock has a market cap of $7.87 billion, a PE ratio of 53.25 and a beta of 0.42.
Coty (NYSE:COTY) last posted its quarterly earnings results on Tuesday, August 16th. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.07. The firm 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 company’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.08 EPS. On average, equities research analysts expect that Coty will post $1.11 EPS for the current year.
In other news, major shareholder Cosmetics B.V. Jab purchased 225,000 shares of the business’s stock in a transaction dated Wednesday, August 3rd. The stock was bought at an average price of $26.94 per share, for a total transaction of $6,061,500.00. Following the purchase, the insider now owns 6,469,861 shares of the company’s stock, valued at $174,298,055.34. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 16.10% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of COTY. Stifel Financial Corp increased its position in 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 last quarter. Victory Capital Management Inc. increased its position in Coty by 5.6% in the second quarter. Victory Capital Management Inc. now owns 16,797 shares of the company’s stock valued at $437,000 after buying an additional 892 shares during the last quarter. BlackRock Inc. increased its position in Coty by 17.0% in the second quarter. BlackRock Inc. now owns 10,177 shares of the company’s stock valued at $265,000 after buying an additional 1,481 shares during the last quarter. OMERS ADMINISTRATION Corp increased its position in Coty by 2.2% in the second quarter. OMERS ADMINISTRATION Corp now owns 153,100 shares of the company’s stock valued at $3,979,000 after buying an additional 3,300 shares during the last quarter. Finally, Jane Street Group LLC increased its position in Coty by 26.6% in the second quarter. Jane Street Group LLC now owns 22,535 shares of the company’s stock valued at $586,000 after buying an additional 4,735 shares during the last quarter. Institutional investors own 17.50% of the company’s stock.
Coty Company Profile
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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