JPMorgan Chase & Co. Cuts Coty (NYSE:COTY) Price Target to $8.00

Coty (NYSE:COTYGet Rating) had its target price decreased by JPMorgan Chase & Co. from $10.00 to $8.00 in a report issued on Tuesday, The Fly reports.

Other analysts have also issued research reports about the stock. Morgan Stanley lifted their price objective on shares of Coty from $8.25 to $11.00 and gave the company an equal weight rating in a research note on Tuesday, January 18th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Coty from $12.00 to $11.00 in a research note on Tuesday. DA Davidson upgraded shares of Coty from a neutral rating to a buy rating in a research note on Friday, January 21st. Zacks Investment Research upgraded shares of Coty from a hold rating to a buy rating and set a $10.00 price objective on the stock in a research note on Thursday, January 20th. Finally, Raymond James dropped their price objective on shares of Coty from $13.00 to $12.00 and set an outperform rating on the stock in a research note on Monday, April 18th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of Buy and an average price target of $11.05.

NYSE COTY opened at $6.58 on Tuesday. Coty has a one year low of $6.03 and a one year high of $11.12. The company’s 50 day moving average price is $8.28 and its 200 day moving average price is $9.08. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.55 and a current ratio of 0.69. The firm has a market capitalization of $5.39 billion, a price-to-earnings ratio of 43.87 and a beta of 2.37.

Coty (NYSE:COTYGet Rating) last posted its quarterly earnings results on Monday, May 9th. The company reported $0.03 EPS for the quarter, beating the consensus estimate of $0.01 by $0.02. Coty had a net margin of 3.93% and a return on equity of 6.85%. The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.15 billion. The company’s revenue was up 15.4% compared to the same quarter last year. Sell-side analysts forecast that Coty will post 0.27 EPS for the current fiscal year.

In other Coty news, CEO Sue Nabi acquired 4,786 shares of the firm’s stock in a transaction on Thursday, March 10th. The stock was purchased at an average price of $8.00 per share, with a total value of $38,288.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Bretten Gordon Von acquired 13,514 shares of the firm’s stock in a transaction on Tuesday, March 8th. The stock was acquired at an average cost of $7.40 per share, with a total value of $100,003.60. The disclosure for this purchase can be found here. Insiders have bought 37,692 shares of company stock valued at $290,907 in the last three months. Corporate insiders own 3.10% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the business. Point72 Asset Management L.P. raised its stake in shares of Coty by 1,019.2% during the third quarter. Point72 Asset Management L.P. now owns 11,683,300 shares of the company’s stock valued at $91,831,000 after purchasing an additional 10,639,425 shares in the last quarter. Clearbridge Investments LLC raised its stake in shares of Coty by 123.3% during the first quarter. Clearbridge Investments LLC now owns 16,862,950 shares of the company’s stock valued at $151,598,000 after purchasing an additional 9,311,527 shares in the last quarter. BlackRock Inc. raised its stake in shares of Coty by 20.0% during the first quarter. BlackRock Inc. now owns 46,632,257 shares of the company’s stock valued at $419,223,000 after purchasing an additional 7,760,564 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Coty by 13.3% during the first quarter. Vanguard Group Inc. now owns 34,950,784 shares of the company’s stock valued at $314,208,000 after purchasing an additional 4,092,581 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Coty during the fourth quarter valued at about $38,737,000. 37.60% of the stock is owned by hedge funds and other institutional investors.

About Coty (Get Rating)

Coty Inc, together with its subsidiaries, engages in the manufacture, marketing, distribution, and sale of beauty products worldwide. The company provides prestige fragrances, skin care, and color cosmetics products through prestige retailers, including perfumeries, department stores, e-retailers, direct-to-consumer websites, and duty-free shops under the Alexander McQueen, Burberry, Bottega Veneta, Calvin Klein, Cavalli, Chloe, Davidoff, Escada, Gucci, Hugo Boss, Jil Sander, Joop!, Kylie Jenner, Lacoste, Lancaster, Marc Jacobs, Miu Miu, Nikos, philosophy, Kim Kardashian West, and Tiffany & Co brands.

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