Coty (NYSE:COTY) Price Target Raised to $4.50

Coty (NYSE:COTY) had its price objective raised by equities researchers at Citigroup from $3.00 to $4.50 in a report released on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Citigroup‘s target price would indicate a potential upside of 13.49% from the company’s previous close.

COTY has been the topic of a number of other reports. TD Cowen began coverage on Coty in a research note on Friday, October 30th. They set a “hold” rating on the stock. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $2.60 target price on shares of Coty in a research report on Thursday, August 20th. Zacks Research upgraded Coty from a “strong sell” rating to a “hold” rating in a report on Thursday, November 5th. Wall Street Zen raised shares of Coty from a “hold” rating to a “buy” rating in a research report on Saturday, November 7th. Finally, Deutsche Bank restated a “hold” rating and set a $3.00 price target on shares of Coty in a research note on Friday, August 21st. One analyst has rated the stock with a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $3.48.

Coty Trading Down 2.3%

Coty stock traded down $0.10 during trading hours on Thursday, reaching $3.96. 908,105 shares of the company’s stock were exchanged, compared to its average volume of 8,679,824. The firm’s 50 day simple moving average is $3.02 and its 200 day simple moving average is $2.56. Coty has a twelve month low of $1.82 and a twelve month high of $4.36. The company has a quick ratio of 0.45, a current ratio of 0.75 and a debt-to-equity ratio of 0.84. The firm has a market capitalization of $3.49 billion, a PE ratio of -6.10, a PEG ratio of 0.54 and a beta of 0.83.

Coty (NYSE:COTY) last issued its quarterly earnings results on Wednesday, November 4th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.04. The firm had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.53 billion. Coty had a positive return on equity of 7.11% and a negative net margin of 9.74%. The company’s revenue was down 1.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.12 earnings per share. Research analysts predict that Coty will post 0.34 earnings per share for the current year.

Institutional Investors Weigh In On Coty

Institutional investors have recently bought and sold shares of the stock. Assenagon Asset Management S.A. raised its position in Coty by 11.1% in the 2nd quarter. Assenagon Asset Management S.A. now owns 6,871,724 shares of the company’s stock valued at $14,843,000 after buying an additional 684,052 shares during the last quarter. M&G PLC grew its stake in shares of Coty by 7.9% in the 3rd quarter. M&G PLC now owns 3,675,063 shares of the company’s stock worth $9,592,000 after acquiring an additional 268,653 shares in the last quarter. Royce & Associates LP grew its stake in shares of Coty by 495.9% in the 3rd quarter. Royce & Associates LP now owns 2,979,390 shares of the company’s stock worth $7,776,000 after acquiring an additional 2,479,390 shares in the last quarter. Pacer Advisors Inc. raised its holdings in shares of Coty by 2,300.9% in the first quarter. Pacer Advisors Inc. now owns 2,953,407 shares of the company’s stock valued at $5,936,000 after purchasing an additional 2,830,397 shares during the last quarter. Finally, First Trust Advisors LP raised its holdings in shares of Coty by 827.5% in the first quarter. First Trust Advisors LP now owns 2,018,890 shares of the company’s stock valued at $4,058,000 after purchasing an additional 1,801,209 shares during the last quarter. Institutional investors own 42.36% of the company’s stock.

About Coty

Coty is a global beauty company that develops, manufactures, markets and distributes fragrances, cosmetics, skin care and body-care products. Its portfolio spans prestige and consumer beauty, with products sold in markets around the world. The company’s brands include CoverGirl, Rimmel London, Max Factor and Sally Hansen. Coty also produces fragrances and beauty products under license for a range of fashion and lifestyle brands. Founded in Paris in 1904 by perfumer François Coty, the company has grown from a fragrance business into a broad-based beauty group.