Citigroup Cuts Coty (NYSE:COTY) Price Target to $3.00

Coty (NYSE:COTY) had its target price trimmed by Citigroup from $3.50 to $3.00 in a research note released on Monday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other brokerages have also recently commented on COTY. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $2.50 target price on shares of Coty in a report on Monday. Jefferies Financial Group began coverage on Coty in a research note on Wednesday, January 14th. They issued a “buy” rating and a $3.50 price objective on the stock. Weiss Ratings reiterated a “sell (d)” rating on shares of Coty in a research note on Wednesday, January 21st. Zacks Research raised shares of Coty from a “strong sell” rating to a “hold” rating in a report on Monday, November 24th. Finally, Wall Street Zen upgraded shares of Coty from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Two analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, Coty has an average rating of “Reduce” and an average target price of $4.51.

Coty Stock Performance

Shares of NYSE COTY opened at $2.53 on Monday. The firm has a 50 day moving average of $3.15 and a 200 day moving average of $3.77. The company has a current ratio of 0.79, a quick ratio of 0.52 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $2.21 billion, a price-to-earnings ratio of -4.07, a price-to-earnings-growth ratio of 0.29 and a beta of 0.95. Coty has a 12-month low of $2.44 and a 12-month high of $6.13.

Coty (NYSE:COTY) last released its quarterly earnings results on Thursday, February 5th. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.04). The business had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.66 billion. Coty had a positive return on equity of 5.38% and a negative net margin of 9.13%.The firm’s revenue was up .5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.11 earnings per share. On average, research analysts anticipate that Coty will post 0.39 earnings per share for the current year.

Institutional Trading of Coty

Several hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada grew its position in shares of Coty by 8.2% during the first quarter. Royal Bank of Canada now owns 128,451 shares of the company’s stock valued at $702,000 after purchasing an additional 9,700 shares in the last quarter. United Services Automobile Association bought a new position in Coty during the first quarter valued at approximately $131,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Coty by 7.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,298,221 shares of the company’s stock valued at $7,101,000 after buying an additional 86,534 shares in the last quarter. Focus Partners Wealth bought a new stake in Coty in the 1st quarter worth approximately $73,000. Finally, KLP Kapitalforvaltning AS raised its holdings in shares of Coty by 13.2% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 90,800 shares of the company’s stock worth $422,000 after acquiring an additional 10,600 shares in the last quarter. Hedge funds and other institutional investors own 42.36% of the company’s stock.

Coty Company Profile

Coty Inc is a multinational beauty company specializing in the development, manufacturing and marketing of fragrances, color cosmetics and skin and body care products. Established in 1904 by François Coty in Paris, the company has grown through a blend of organic innovation and strategic acquisitions to become one of the leading players in the global beauty industry. Coty’s portfolio encompasses a broad range of consumer and luxury brands, reflecting its commitment to catering to diverse consumer preferences and market segments.

The company’s product offerings span three main divisions: Coty Luxury, Coty Consumer Beauty and Coty Professional Beauty.