Coty Inc. (COTY) Downgraded by Zacks Investment Research to “Hold”
According to Zacks, “Coty Inc. is involved in the manufacturing, marketing and distribution of beauty products. It operates in three segments: Fragrances, Colour Cosmetics and Skin & Body Care. The Company’s brand consists of adidas, Calvin Klein, Chloe, Davidoff, Marc Jacobs, OPI, philosophy, Playboy, Rimmel and Sally Hansen. It sells the products through department stores, specialty retailers, perfumeries and pharmacies, mass-market retailers and duty-free shops in airports and cities and e-commerce channels. Coty Inc. is headquartered in New York. “
Other research analysts have also issued reports about the stock. Bank of America Corp. raised shares of Coty from a neutral rating to a buy rating and set a $28.00 price objective for the company in a report on Monday, October 3rd. Deutsche Bank AG reissued a buy rating and set a $32.00 price objective on shares of Coty in a report on Thursday, August 18th. Stifel Nicolaus reissued a buy rating and set a $32.00 price objective on shares of Coty in a report on Tuesday. Barclays PLC reissued an equal weight rating and set a $28.00 price objective on shares of Coty in a report on Monday. Finally, B. Riley raised shares of Coty from a sell rating to a neutral rating and raised their price objective for the stock from $21.50 to $23.25 in a report on Thursday, September 29th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of Hold and a consensus price target of $27.75.
Coty (NYSE:COTY) opened at 23.43 on Tuesday. The stock has a market capitalization of $7.87 billion, a PE ratio of 53.25 and a beta of 0.41. Coty has a 12-month low of $21.48 and a 12-month high of $31.60. The company’s 50-day moving average is $24.25 and its 200 day moving average is $26.61.
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 Thomson Reuters’ consensus estimate of $0.06 by $0.07. The company earned $1.08 billion during the quarter, compared to analyst estimates of $1.05 billion. Coty had a net margin of 3.61% and a return on equity of 80.72%. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period last year, the business earned $0.08 EPS. On average, analysts predict that Coty will post $1.11 EPS for the current year.
In other news, major shareholder Cosmetics B.V. Jab purchased 75,000 shares of the business’s stock in a transaction dated Monday, August 1st. The shares were acquired at an average price of $26.89 per share, for a total transaction of $2,016,750.00. Following the completion of the acquisition, the insider now directly owns 6,469,861 shares of the company’s stock, valued at $173,974,562.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 16.10% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Globeflex Capital L P purchased a new stake in Coty during the second quarter worth about $156,000. FDx Advisors Inc. purchased a new stake in Coty during the second quarter worth about $205,000. 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 worth $242,000 after buying an additional 6,649 shares in the last quarter. Stifel Financial Corp raised its stake 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 in the last quarter. Finally, KCG Holdings Inc. purchased a new stake in Coty during the second quarter worth about $273,000. Institutional investors and hedge funds own 17.50% of the company’s stock.
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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