Coty Inc. (COTY) Stock Rating Reaffirmed by Wells Fargo & Company
Coty Inc. (NYSE:COTY)‘s stock had its “hold” rating reissued by investment analysts at Wells Fargo & Company in a report issued on Thursday. They presently have a $17.00 target price on the stock. Wells Fargo & Company’s target price suggests a potential upside of 4.23% from the company’s current price.
The analysts wrote, “We view COTY as a long-term turnaround story and given the risks ahead, we choose to be patient until we see more evidence of fundamental stabilization. We maintain our Market Perform rating. Organic Sales Weak, but Showing Improvement – We were encouraged by continued growth in Luxury (+4%) and Professional Beauty (+1%), but Consumer Beauty remains weak (down -8%). Mgmt expects flat organic sales growth in 2H18, meaning a material positive inflection point isn’t likely until FY19 at earliest. We are lowering our 2H18 organic sales growth outlook to flat (prior +1.5%), with FY18 down -1% (prior -0.4%).””
A number of other equities research analysts have also weighed in on the stock. Zacks Investment Research lowered shares of Coty from a “hold” rating to a “sell” rating in a report on Thursday, July 20th. BidaskClub lowered shares of Coty from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 12th. Royal Bank Of Canada restated a “hold” rating and issued a $18.00 price objective on shares of Coty in a report on Friday, October 20th. KeyCorp restated a “hold” rating on shares of Coty in a report on Monday, October 16th. Finally, BMO Capital Markets reiterated a “buy” rating and set a $24.00 price target on shares of Coty in a report on Thursday, October 5th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the company’s stock. Coty has an average rating of “Hold” and an average price target of $19.30.
Shares of Coty (NYSE:COTY) opened at $16.31 on Thursday. The firm has a market cap of $11,990.00, a P/E ratio of 21.71, a PEG ratio of 1.47 and a beta of 0.32. The company has a quick ratio of 0.66, a current ratio of 0.94 and a debt-to-equity ratio of 0.74. Coty has a 1-year low of $14.24 and a 1-year high of $20.88.
Coty (NYSE:COTY) last announced its quarterly earnings data on Thursday, November 9th. The company reported $0.10 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.07 by $0.03. The firm had revenue of $2.24 billion during the quarter, compared to analyst estimates of $2.24 billion. Coty had a negative net margin of 5.52% and a positive return on equity of 5.63%. The business’s quarterly revenue was up 107.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.23 EPS. research analysts predict that Coty will post 0.69 earnings per share for the current year.
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In related news, CEO Camillo Pane acquired 48,485 shares of the firm’s stock in a transaction on Thursday, August 24th. The stock was acquired at an average cost of $16.50 per share, for a total transaction of $800,002.50. Following the acquisition, the chief executive officer now owns 336,142 shares of the company’s stock, valued at $5,546,343. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Cosmetics B.V. Jab acquired 2,600,000 shares of the firm’s stock in a transaction on Monday, August 28th. The stock was bought at an average price of $16.30 per share, with a total value of $42,380,000.00. Following the completion of the acquisition, the insider now directly owns 276,408,041 shares in the company, valued at approximately $4,505,451,068.30. The disclosure for this purchase can be found here. Insiders acquired a total of 2,979,505 shares of company stock valued at $48,661,242 over the last 90 days. Company insiders own 1.00% 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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