Coty Inc. (COTY) Downgraded by Berenberg Bank
Coty Inc. (NYSE:COTY) was downgraded by analysts at Berenberg Bank from a “hold” rating to a “sell” rating in a report released on Wednesday.
Several other equities analysts have also recently issued reports on COTY. Barclays PLC set a $19.00 target price on shares of Coty and gave the company a “hold” rating in a research note on Saturday, May 13th. Bank of America Corporation decreased their target price on shares of Coty from $23.00 to $21.00 and set a “buy” rating for the company in a research note on Wednesday, August 23rd. Stifel Nicolaus set a $25.00 target price on shares of Coty and gave the company a “buy” rating in a research note on Monday, August 21st. Jefferies Group LLC reiterated a “hold” rating and issued a $18.00 target price (up from $17.00) on shares of Coty in a research note on Wednesday, August 23rd. Finally, BMO Capital Markets set a $24.00 target price on shares of Coty and gave the company a “buy” rating in a research note on Tuesday, August 22nd. Five equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $20.75.
Shares of Coty (NYSE COTY) opened at 16.51 on Wednesday. The company’s market cap is $12.36 billion. The company has a 50 day moving average of $19.06 and a 200-day moving average of $18.76. Coty has a 12-month low of $15.83 and a 12-month high of $27.98.
In related news, insider Edgar O. Huber bought 80,000 shares of the stock in a transaction on Friday, August 25th. The stock was bought at an average price of $16.43 per share, with a total value of $1,314,400.00. Following the completion of the purchase, the insider now directly owns 159,570 shares in the company, valued at approximately $2,621,735.10. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Sylvie Moreau bought 48,153 shares of the stock in a transaction on Thursday, August 24th. The shares were bought at an average cost of $16.79 per share, with a total value of $808,488.87. Following the purchase, the insider now owns 97,035 shares of the company’s stock, valued at $1,629,217.65. The disclosure for this purchase can be found here. Insiders have bought 2,880,038 shares of company stock valued at $47,216,712 in the last ninety days. Insiders own 16.10% 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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