Coty Inc. (COTY) Raised to “Buy” at Bank of America Corp.
Coty Inc. (NYSE:COTY) was upgraded by stock analysts at Bank of America Corp. from a “neutral” rating to a “buy” rating in a report released on Monday.
Several other analysts also recently commented on COTY. Zacks Investment Research raised shares of Coty from a “sell” rating to a “hold” rating in a research report on Tuesday, July 5th. B. Riley reissued a “sell” rating and set a $19.50 price objective on shares of Coty in a research report on Wednesday, June 15th. Barclays PLC reissued a “hold” rating on shares of Coty in a research report on Saturday, July 9th. Finally, Deutsche Bank AG reissued a “buy” rating and set a $32.00 price objective on shares of Coty in a research report on Thursday, August 18th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $27.66.
Coty (NYSE:COTY) opened at 23.50 on Monday. The firm has a 50 day moving average of $25.83 and a 200-day moving average of $26.93. The company has a market capitalization of $7.90 billion, a price-to-earnings ratio of 53.41 and a beta of 0.42. Coty has a 1-year low of $21.48 and a 1-year high of $31.60.
Coty (NYSE:COTY) last released its earnings results 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. The firm had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.05 billion. Coty had a net margin of 3.61% and a return on equity of 80.72%. The company’s revenue was up 5.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.08 EPS. On average, equities research analysts anticipate 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 Coty stock in a transaction that occurred on Wednesday, August 3rd. The stock was bought at an average cost of $26.94 per share, with a total value of $6,061,500.00. Following the acquisition, 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 filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Sebastien Froidefond sold 3,983 shares of the stock in a transaction that occurred on Monday, July 11th. The stock was sold at an average price of $27.02, for a total transaction of $107,620.66. Following the completion of the sale, the senior vice president now directly owns 20,862 shares of the company’s stock, valued at $563,691.24. The disclosure for this sale can be found here. 16.10% of the stock is currently owned by insiders.
A number of large investors have recently added to or reduced their stakes in the company. Legal & General Group Plc raised its stake in Coty by 4.9% in the first quarter. Legal & General Group Plc now owns 4,443 shares of the company’s stock valued at $124,000 after buying an additional 207 shares in the last quarter. Wellington Management Group LLP raised its stake in 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 in the last quarter. EFG Asset Management Americas Corp. raised its stake in Coty by 35.0% in the first quarter. EFG Asset Management Americas Corp. now owns 144,705 shares of the company’s stock valued at $4,091,000 after buying an additional 37,524 shares in the last quarter. BlackRock Inc. raised its stake in Coty by 324.8% in the first quarter. BlackRock Inc. now owns 8,696 shares of the company’s stock valued at $242,000 after buying an additional 6,649 shares in the last quarter. Finally, TD Asset Management Inc. purchased a new stake in Coty during the second quarter valued at about $1,134,000. 17.44% of the stock is owned by institutional investors.
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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