Coty Inc. (COTY) Receives $27.73 Consensus Price Target from Analysts
Coty Inc. (NYSE:COTY) has been assigned a consensus recommendation of “Hold” from the twelve analysts that are covering the stock. Two analysts have rated the stock with a sell recommendation, five have issued a hold recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $27.73.
Several equities analysts have weighed in on COTY shares. B. Riley reaffirmed a “neutral” rating and set a $23.25 target price on shares of Coty in a research note on Tuesday, October 4th. Bank of America Corp. raised Coty from a “neutral” rating to a “buy” rating and set a $28.00 target price on the stock in a research note on Monday, October 3rd. Zacks Investment Research raised Coty from a “hold” rating to a “strong-buy” rating and set a $27.00 target price on the stock in a research note on Thursday, September 22nd. Berenberg Bank started coverage on Coty in a research note on Friday, September 9th. They set a “sell” rating and a $23.00 target price on the stock. Finally, Citigroup Inc. lifted their target price on Coty from $28.00 to $30.00 and gave the company a “neutral” rating in a research note on Thursday, August 25th.
In related news, major shareholder Cosmetics B.V. Jab bought 175,000 shares of Coty stock in a transaction that occurred on Wednesday, August 31st. The stock was purchased at an average cost of $27.13 per share, for a total transaction of $4,747,750.00. Following the acquisition, the insider now owns 8,880,671 shares in the company, valued at $240,932,604.23. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 16.10% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of COTY. EFG Asset Management Americas Corp. raised its position in shares of Coty by 35.0% in the first quarter. EFG Asset Management Americas Corp. now owns 144,705 shares of the company’s stock worth $4,091,000 after buying an additional 37,524 shares during the period. Envestnet Asset Management Inc. raised its position in shares of Coty by 23.8% in the first quarter. Envestnet Asset Management Inc. now owns 34,440 shares of the company’s stock worth $958,000 after buying an additional 6,611 shares during the period. Legal & General Group Plc raised its position in shares of 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. Bayesian Capital Management LP acquired a new position in shares of Coty during the first quarter worth approximately $476,000. Finally, Invictus RG raised its position in shares of Coty by 137.3% in the first quarter. Invictus RG now owns 15,718 shares of the company’s stock worth $437,000 after buying an additional 9,095 shares during the period. Institutional investors own 17.44% of the company’s stock.
Shares of Coty (NYSE:COTY) opened at 23.37 on Monday. The stock has a market cap of $7.85 billion, a price-to-earnings ratio of 53.11 and a beta of 0.41. The stock’s 50 day moving average is $24.72 and its 200-day moving average is $26.75. Coty has a 1-year low of $21.48 and a 1-year high of $31.60.
Coty (NYSE:COTY) last posted its quarterly earnings data on Tuesday, August 16th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 return on equity of 80.72% and a net margin of 3.61%. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.08 EPS. On average, analysts anticipate that Coty will post $1.11 EPS for the current year.
Coty Company Profile
Coty Inc is a beauty company. The Company operates through four segments: Fragrances, Color Cosmetics, Skin & Body Care and Brazil Acquisition. Its fragrance products include a range of men’s and women’s products. Its fragrance brands include Calvin Klein, Marc Jacobs, Davidoff, Chloe, Balenciaga, Beyonce, Bottega Veneta, Miu Miu and Roberto Cavalli.
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