Coty (NYSE:COTY) Receives “Buy” Rating from DA Davidson

DA Davidson reaffirmed their buy rating on shares of Coty (NYSE:COTY) in a report issued on Monday morning, Benzinga reports. DA Davidson currently has a $17.50 target price on the stock.

Other analysts also recently issued research reports about the stock. TD Cowen reduced their price target on shares of Coty from $16.00 to $13.00 and set a buy rating for the company in a research report on Wednesday, April 17th. Citigroup reduced their price target on shares of Coty from $13.00 to $12.00 and set a neutral rating for the company in a research report on Tuesday, April 16th. TheStreet raised shares of Coty from a c+ rating to a b- rating in a report on Thursday, February 8th. Royal Bank of Canada reaffirmed an outperform rating and set a $14.00 price objective on shares of Coty in a report on Friday, February 9th. Finally, Wells Fargo & Company lifted their price objective on shares of Coty from $11.00 to $12.00 and gave the stock an equal weight rating in a report on Friday, February 9th. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $13.19.

Coty Stock Performance

Shares of COTY stock opened at $11.71 on Monday. The company has a market cap of $10.48 billion, a price-to-earnings ratio of 33.44, a price-to-earnings-growth ratio of 6.25 and a beta of 1.82. Coty has a 52 week low of $9.02 and a 52 week high of $13.46. The company has a quick ratio of 0.58, a current ratio of 0.85 and a debt-to-equity ratio of 0.80. The firm has a 50 day moving average of $11.92 and a 200-day moving average of $11.51.

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

Insider Buying and Selling

In related news, Director Robert S. Singer sold 90,000 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were 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 of the company’s stock, valued at approximately $2,134,973.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Robert S. Singer sold 90,000 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were 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 of the company’s stock, valued at approximately $2,134,973.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robert S. Singer sold 30,000 shares of the company’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $12.70, for a total transaction of $381,000.00. Following the sale, the director now directly owns 120,000 shares in the company, valued at $1,524,000. The disclosure for this sale can be found here. 5.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Coty

Several institutional investors have recently added to or reduced their stakes in COTY. Norges Bank purchased a new stake in Coty during the fourth quarter valued at about $67,193,000. Vanguard Group Inc. lifted 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 valued at $430,920,000 after purchasing an additional 4,245,039 shares during the last quarter. Invesco Ltd. lifted its holdings in Coty by 40.0% during the third quarter. Invesco Ltd. now owns 7,494,519 shares of the company’s stock valued at $82,215,000 after purchasing an additional 2,142,622 shares during the last quarter. Sea Cliff Partners Management LP purchased a new stake in Coty during the fourth quarter valued at about $24,803,000. Finally, Prevatt Capital Ltd purchased a new stake in shares of Coty in the fourth quarter worth about $19,251,000. 42.36% of the stock is owned by hedge funds and other institutional investors.

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.