Berenberg Bank Upgrades Coty Inc. (COTY) to “Hold”
Coty Inc. (NYSE:COTY) was upgraded by investment analysts at Berenberg Bank from a “sell” rating to a “hold” rating in a research report issued on Friday. The firm currently has a $18.00 price target on the stock. Berenberg Bank’s price objective suggests a potential downside of 7.46% from the company’s previous close.
COTY has been the topic of several other reports. B. Riley restated a “neutral” rating and set a $17.00 target price on shares of Coty in a research report on Tuesday, November 15th. Zacks Investment Research cut shares of Coty from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 18th. Bank of America Corp. upgraded shares of Coty from a “neutral” rating to a “buy” rating and set a $28.00 target price on the stock in a research report on Monday, October 3rd. Finally, Stifel Nicolaus decreased their target price on shares of Coty from $32.00 to $29.00 and set a “buy” rating on the stock in a research report on Monday, October 24th. One analyst has rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $26.27.
Shares of Coty (NYSE:COTY) opened at 19.45 on Friday. The company has a market capitalization of $14.52 billion, a PE ratio of 223.56 and a beta of 0.43. The company has a 50 day moving average price of $22.03 and a 200 day moving average price of $25.20. Coty has a 1-year low of $17.97 and a 1-year high of $31.60.
Coty (NYSE:COTY) last released its quarterly earnings data on Wednesday, November 9th. The company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.33 by $0.10. Coty had a net margin of 0.72% and a return on equity of 77.02%. The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same period last year, the company earned $0.59 EPS. The firm’s revenue for the quarter was down 2.9% on a year-over-year basis. Equities analysts predict that Coty will post $0.93 EPS for the current fiscal year.
In other news, Director Lambertus J.H. Becht sold 3,314 shares of the stock in a transaction that occurred on Wednesday, November 16th. The shares were sold at an average price of $18.14, for a total transaction of $60,115.96. Following the transaction, the director now directly owns 1,022,500 shares in the company, valued at $18,548,150. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Cosmetics B.V. Jab acquired 175,000 shares of the company’s stock in a transaction dated Wednesday, August 31st. The shares were acquired at an average price of $27.13 per share, for a total transaction of $4,747,750.00. Following the completion of the purchase, the insider now owns 8,880,671 shares of the company’s stock, valued at approximately $240,932,604.23. The disclosure for this purchase can be found here. Insiders own 16.10% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the stock. FMR LLC increased its position in Coty by 57.6% in the second quarter. FMR LLC now owns 9,426,789 shares of the company’s stock worth $245,003,000 after buying an additional 3,446,415 shares in the last quarter. First Trust Advisors LP increased its position in Coty by 103.7% in the second quarter. First Trust Advisors LP now owns 394,178 shares of the company’s stock worth $10,245,000 after buying an additional 200,634 shares in the last quarter. Jabre Capital Partners S.A. acquired a new position in Coty during the second quarter worth about $3,400,000. Bronson Point Management LLC acquired a new position in Coty during the second quarter worth about $3,743,000. Finally, Barclays PLC increased its position in Coty by 2,011.4% in the first quarter. Barclays PLC now owns 85,131 shares of the company’s stock worth $2,299,000 after buying an additional 81,099 shares in the last quarter. Hedge funds and other institutional investors own 30.92% of the company’s stock.
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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