TD Cowen Cuts Coty (NYSE:COTY) Price Target to $13.00

Coty (NYSE:COTY) had its price target reduced by TD Cowen from $16.00 to $13.00 in a research report sent to investors on Wednesday morning, Benzinga reports. They currently have a buy rating on the stock.

A number of other research firms also recently commented on COTY. Wells Fargo & Company increased their price objective on Coty from $11.00 to $12.00 and gave the company an equal weight rating in a report on Friday, February 9th. TheStreet upgraded Coty from a c+ rating to a b- rating in a report on Thursday, February 8th. Barclays dropped their price objective on Coty from $13.00 to $12.00 and set an equal weight rating on the stock in a report on Friday, April 12th. Canaccord Genuity Group started coverage on Coty in a research note on Monday. They set a buy rating and a $14.00 price target on the stock. Finally, DA Davidson restated a buy rating and set a $17.50 price target on shares of Coty in a research note on Monday, April 8th. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $13.19.

Coty Price Performance

COTY stock opened at $10.63 on Wednesday. The company has a current ratio of 0.85, a quick ratio of 0.58 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $9.52 billion, a PE ratio of 30.37, a P/E/G ratio of 5.80 and a beta of 1.82. Coty has a 12-month low of $9.02 and a 12-month high of $13.46. The business’s fifty day moving average price is $11.99 and its 200 day moving average price is $11.48.

Coty (NYSE:COTY) last issued its quarterly earnings results on Wednesday, February 7th. The company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.05. The company had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.68 billion. Coty had a return on equity of 11.91% and a net margin of 5.39%. Coty’s revenue was up 13.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.22 EPS. On average, sell-side analysts anticipate that Coty will post 0.45 EPS for the current year.

Insider Buying and Selling at Coty

In other Coty news, Director Robert S. Singer sold 90,000 shares of Coty stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $12.56, for a total value of $1,130,400.00. Following the transaction, the director now directly owns 169,982 shares in the company, valued at approximately $2,134,973.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Robert S. Singer sold 90,000 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $12.56, for a total value of $1,130,400.00. Following the completion of the sale, the director now directly owns 169,982 shares of the company’s stock, valued at approximately $2,134,973.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert S. Singer sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $12.70, for a total value of $381,000.00. Following the completion of the sale, the director now directly owns 120,000 shares of the company’s stock, valued at $1,524,000. The disclosure for this sale can be found here. Company insiders own 5.80% of the company’s stock.

Institutional Trading of Coty

Several hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in Coty by 12.1% during the third quarter. Vanguard Group Inc. now owns 39,281,692 shares of the company’s stock worth $430,920,000 after purchasing an additional 4,245,039 shares during the last quarter. SG Americas Securities LLC raised its holdings in Coty by 33.9% during the fourth quarter. SG Americas Securities LLC now owns 57,652 shares of the company’s stock worth $716,000 after purchasing an additional 14,584 shares during the last quarter. Vaughan Nelson Investment Management L.P. raised its holdings in Coty by 29.1% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 1,707,372 shares of the company’s stock worth $18,729,000 after purchasing an additional 385,290 shares during the last quarter. Integrated Advisors Network LLC raised its holdings in Coty by 76.9% during the third quarter. Integrated Advisors Network LLC now owns 323,296 shares of the company’s stock worth $3,547,000 after purchasing an additional 140,555 shares during the last quarter. Finally, Ruffer LLP raised its holdings in Coty by 11.5% during the third quarter. Ruffer LLP now owns 5,950,409 shares of the company’s stock worth $66,276,000 after purchasing an additional 611,853 shares during the last quarter. 42.36% of the stock is owned by institutional investors and hedge funds.

Coty Company Profile

Coty Inc, together with its subsidiaries, manufactures, markets, distributes, and sells beauty products worldwide. It operates through Prestige and Consumer Beauty segments. The company provides fragrance, color cosmetics, and skin and body care products. It offers Prestige segment products primarily through prestige retailers, including perfumeries, department stores, e-retailers, direct-to-consumer websites, and duty-free shops under the Burberry, Calvin Klein, Chloe, Davidoff, Escada, Gucci, Hugo Boss, Jil Sander, Joop!, Kylie Jenner, Lancaster, Marc Jacobs, Miu Miu, Orveda, philosophy, SKKN BY KIM, and Tiffany & Co brands.