Coty Inc. (COTY) Upgraded to “Hold” at B. Riley
Coty Inc. (NYSE:COTY) was upgraded by research analysts at B. Riley to a “hold” rating in a research report issued to clients and investors on Thursday.
A number of other brokerages have also weighed in on COTY. Zacks Investment Research raised Coty from a “hold” rating to a “strong-buy” rating and set a $33.00 price objective on the stock in a report on Friday, August 19th. Citigroup Inc. upped their target price on Coty from $28.00 to $30.00 and gave the company a “neutral” rating in a report on Thursday, August 25th. 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. Barclays PLC reissued a “hold” rating on shares of Coty in a report on Saturday, July 9th. Finally, Bank of America Corp. set a $29.00 target price on Coty and gave the company a “hold” rating in a report on Wednesday, August 31st. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Coty presently has an average rating of “Hold” and an average price target of $27.66.
Coty (NYSE:COTY) opened at 23.82 on Thursday. Coty has a one year low of $21.48 and a one year high of $31.60. The company has a market capitalization of $8.01 billion, a PE ratio of 54.14 and a beta of 0.37. The firm’s 50-day moving average is $26.12 and its 200 day moving average is $26.98.
Coty (NYSE:COTY) last announced its quarterly earnings data on Tuesday, August 16th. The company reported $0.13 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.07. Coty had a return on equity of 80.72% and a net margin of 3.61%. The firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same quarter in the prior year, the company posted $0.08 earnings per share. Coty’s quarterly revenue was up 5.5% on a year-over-year basis. On average, equities analysts expect that Coty will post $1.12 EPS for the current fiscal year.
In related news, SVP Sebastien Froidefond sold 3,983 shares of the stock in a transaction dated Monday, July 11th. The stock was sold at an average price of $27.02, for a total transaction of $107,620.66. Following the transaction, the senior vice president now directly owns 20,862 shares in the company, valued at $563,691.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Cosmetics B.V. Jab bought 175,000 shares of Coty stock in a transaction that occurred on Monday, August 22nd. The shares were acquired at an average price of $29.04 per share, for a total transaction of $5,082,000.00. Following the completion of the transaction, the insider now directly owns 7,831,672 shares of the company’s stock, valued at approximately $227,431,754.88. The disclosure for this purchase can be found here. Corporate insiders own 16.10% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in COTY. Legal & General Group Plc increased its position in Coty by 4.9% in the first quarter. Legal & General Group Plc now owns 4,443 shares of the company’s stock worth $124,000 after buying an additional 207 shares during the period. Globeflex Capital L P purchased a new position in Coty during the second quarter worth approximately $156,000. FDx Advisors Inc. purchased a new position in Coty during the second quarter worth approximately $205,000. BlackRock Inc. increased its position in Coty by 324.8% in the first quarter. BlackRock Inc. now owns 8,696 shares of the company’s stock worth $242,000 after buying an additional 6,649 shares during the period. Finally, 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 worth $245,000 after buying an additional 212 shares during the period. Hedge funds and other institutional investors own 17.44% of the company’s stock.
Coty Company Profile
Coty Inc is a beauty company. The Company manufactures and markets beauty products with distribution in over 130 countries and territories across both prestige and mass markets. The Company’s segments include Fragrances, Color Cosmetics, and Skin & Body Care. Its Fragrances products include a range of men’s and women’s products, and also include fashion designer, celebrity and lifestyle brands.
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