Coty’s (COTY) Outperform Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada reissued their outperform rating on shares of Coty (NYSE:COTYFree Report) in a research report released on Friday, Benzinga reports. Royal Bank of Canada currently has a $14.00 price target on the stock.

COTY has been the subject of several other reports. JPMorgan Chase & Co. lowered their target price on Coty from $13.00 to $12.00 and set a neutral rating for the company in a research note on Thursday, October 12th. Wells Fargo & Company raised their target price on Coty from $11.00 to $12.00 and gave the company an equal weight rating in a research note on Friday. StockNews.com downgraded Coty from a buy rating to a hold rating in a research note on Thursday, November 2nd. Raymond James lowered their target price on Coty from $15.00 to $13.00 and set an outperform rating for the company in a research note on Monday, October 23rd. Finally, TD Cowen initiated coverage on Coty in a research note on Tuesday, October 17th. They set a market perform rating and a $11.00 target price for the company. Nine research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Coty presently has a consensus rating of Hold and a consensus target price of $12.94.

View Our Latest Research Report on Coty

Coty Trading Up 1.9 %

NYSE:COTY opened at $11.84 on Friday. The business’s 50-day moving average is $12.13 and its two-hundred day moving average is $11.33. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.85 and a quick ratio of 0.58. Coty has a 12 month low of $9.02 and a 12 month high of $13.46. The firm has a market capitalization of $10.56 billion, a PE ratio of 33.83, a price-to-earnings-growth ratio of 5.86 and a beta of 1.89.

Coty (NYSE:COTYGet Free Report) last released its quarterly earnings data on Wednesday, February 7th. The company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.20 by $0.05. Coty had a return on equity of 11.91% and a net margin of 5.39%. The company had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.68 billion. During the same period last year, the company posted $0.22 earnings per share. The firm’s revenue was up 13.4% compared to the same quarter last year. Research analysts predict that Coty will post 0.45 earnings per share for the current fiscal year.

Coty declared that its board has authorized a stock repurchase program on Monday, November 13th that permits the company to buyback $600.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 7.1% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

Hedge Funds Weigh In On Coty

Several institutional investors and hedge funds have recently modified their holdings of COTY. Mirabella Financial Services LLP acquired a new stake in shares of Coty in the 2nd quarter valued at $786,000. State of New Jersey Common Pension Fund D lifted its stake in shares of Coty by 6.4% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 221,017 shares of the company’s stock valued at $2,716,000 after purchasing an additional 13,369 shares during the last quarter. Rhumbline Advisers lifted its stake in shares of Coty by 3.6% in the 2nd quarter. Rhumbline Advisers now owns 1,121,924 shares of the company’s stock valued at $13,788,000 after purchasing an additional 39,294 shares during the last quarter. Vaughan Nelson Investment Management L.P. lifted its stake in shares of Coty by 29.1% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 1,707,372 shares of the company’s stock valued at $18,729,000 after purchasing an additional 385,290 shares during the last quarter. Finally, Banco Santander S.A. lifted its stake in shares of Coty by 26.6% in the 2nd quarter. Banco Santander S.A. now owns 26,239,918 shares of the company’s stock valued at $322,489,000 after purchasing an additional 5,513,900 shares during the last quarter. 37.10% of the stock is currently owned by hedge funds and other institutional investors.

Coty Company Profile

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Coty Inc, together with its subsidiaries, manufactures, markets, distributes, and sells beauty products worldwide. It operates through Prestige and Consumer Beauty segments. The company provides fragrance, color cosmetics, and skin and body care products. It offers Prestige segment products primarily through prestige retailers, including perfumeries, department stores, e-retailers, direct-to-consumer websites, and duty-free shops under the Burberry, Calvin Klein, Chloe, Davidoff, Escada, Gucci, Hugo Boss, Jil Sander, Joop!, Kylie Jenner, Lancaster, Marc Jacobs, Miu Miu, Orveda, philosophy, SKKN BY KIM, and Tiffany & Co brands.

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