Coty’s (COTY) “Buy” Rating Reaffirmed at Stifel Nicolaus
Coty Inc. (NYSE:COTY)‘s stock had its “buy” rating reaffirmed by investment analysts at Stifel Nicolaus in a report issued on Tuesday. They currently have a $32.00 price target on the stock. Stifel Nicolaus’ price target suggests a potential upside of 36.81% from the stock’s previous close.
Several other research analysts also recently commented on the company. Zacks Investment Research raised 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. raised Coty from a “neutral” rating to a “buy” rating and set a $28.00 target price on the stock in a report on Monday, October 3rd. B. Riley raised Coty from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $21.50 to $23.25 in a report on Thursday, September 29th. Deutsche Bank AG reissued a “buy” rating and issued a $32.00 target price on shares of Coty in a report on Thursday, August 18th. Finally, Berenberg Bank initiated coverage on Coty in a report on Friday, September 9th. They issued a “sell” rating and a $23.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $27.75.
Shares of Coty (NYSE:COTY) traded down 0.021% during trading on Tuesday, hitting $23.385. The company had a trading volume of 4,695,861 shares. The stock has a market cap of $7.86 billion, a PE ratio of 53.148 and a beta of 0.42. The firm has a 50 day moving average of $24.36 and a 200 day moving average of $26.65. Coty has a 12-month low of $21.48 and a 12-month high of $31.60.
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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 business had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.05 billion. Coty had a return on equity of 80.72% and a net margin of 3.61%. Coty’s revenue was up 5.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.08 EPS. On average, analysts forecast that Coty will post $1.11 earnings per share for the current fiscal year.
In other news, major shareholder Cosmetics B.V. Jab bought 225,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was acquired at an average cost 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 approximately $174,298,055.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 16.10% of the stock is currently owned by corporate insiders.
A number of large investors have recently modified their holdings of the company. Wellington Management Group LLP increased its stake in shares of Coty by 2,270.5% in the first quarter. Wellington Management Group LLP now owns 7,599,442 shares of the company’s stock valued at $211,492,000 after buying an additional 7,278,863 shares during the period. FMR LLC boosted its position in shares of Coty by 57.6% in the second quarter. FMR LLC now owns 9,426,789 shares of the company’s stock valued at $245,003,000 after buying an additional 3,446,415 shares in the last quarter. Canada Pension Plan Investment Board boosted its position in shares of Coty by 239.3% in the first quarter. Canada Pension Plan Investment Board now owns 337,725 shares of the company’s stock valued at $9,399,000 after buying an additional 238,200 shares in the last quarter. First Trust Advisors LP boosted its position in shares of Coty by 103.7% in the second quarter. First Trust Advisors LP now owns 394,178 shares of the company’s stock valued at $10,245,000 after buying an additional 200,634 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of Coty by 299.3% in the first quarter. JPMorgan Chase & Co. now owns 259,325 shares of the company’s stock valued at $7,217,000 after buying an additional 194,373 shares in the last quarter. Hedge funds and other institutional investors 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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