Coty (NYSE:COTY) Reaches New 1-Year Low – Here’s Why

Coty (NYSE:COTY) hit a new 52-week low during trading on Monday . The company traded as low as $2.20 and last traded at $2.2050, with a volume of 1804662 shares traded. The stock had previously closed at $2.22.

Analyst Ratings Changes

COTY has been the topic of several analyst reports. Citigroup dropped their price target on shares of Coty from $3.50 to $3.00 and set a “neutral” rating on the stock in a research report on Monday, February 9th. Royal Bank Of Canada cut their price objective on shares of Coty from $10.00 to $8.00 and set an “outperform” rating for the company in a report on Monday, February 9th. Jefferies Financial Group assumed coverage on Coty in a report on Wednesday, January 14th. They set a “buy” rating and a $3.50 target price on the stock. Rothschild & Co Redburn set a $3.60 price target on Coty in a research report on Tuesday, November 25th. Finally, Morgan Stanley set a $3.50 price objective on Coty in a research note on Monday, February 9th. One equities research analyst has rated the stock with a Buy rating, seventeen have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, Coty presently has a consensus rating of “Reduce” and an average price target of $4.31.

Coty Stock Down 1.6%

The firm has a 50-day moving average of $2.79 and a two-hundred day moving average of $3.40. The company has a quick ratio of 0.52, a current ratio of 0.79 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $1.88 billion, a PE ratio of -3.44, a price-to-earnings-growth ratio of 0.32 and a beta of 0.95.

Coty (NYSE:COTY) last announced its quarterly earnings results on Thursday, February 5th. The company reported $0.14 EPS 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 analyst estimates of $1.66 billion. Coty had a negative net margin of 9.13% and a positive return on equity of 5.38%. The business’s revenue for the quarter was up .5% on a year-over-year basis. During the same period last year, the company earned $0.11 EPS. Equities research analysts predict that Coty will post 0.39 earnings per share for the current fiscal year.

Insider Buying and Selling at Coty

In related news, insider Bretten Gordon Von purchased 83,000 shares of the company’s stock in a transaction on Friday, March 6th. The stock was acquired at an average cost of $2.41 per share, for a total transaction of $200,030.00. Following the completion of the transaction, the insider directly owned 986,620 shares in the company, valued at approximately $2,377,754.20. The trade was a 9.19% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 5.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Coty

Hedge funds have recently made changes to their positions in the stock. GAM Holding AG lifted its stake in Coty by 109.7% during the third quarter. GAM Holding AG now owns 650,000 shares of the company’s stock worth $2,626,000 after purchasing an additional 340,000 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Coty by 2.6% in the third quarter. Vanguard Group Inc. now owns 37,704,142 shares of the company’s stock valued at $152,325,000 after buying an additional 964,040 shares in the last quarter. Edmond DE Rothschild Holding S.A. raised its holdings in shares of Coty by 10.9% in the 2nd quarter. Edmond DE Rothschild Holding S.A. now owns 3,994,553 shares of the company’s stock valued at $18,574,000 after buying an additional 392,720 shares during the period. Norges Bank purchased a new stake in shares of Coty in the 2nd quarter valued at $52,449,000. Finally, Assenagon Asset Management S.A. lifted its stake in Coty by 6,340.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 2,883,926 shares of the company’s stock worth $11,651,000 after acquiring an additional 2,839,148 shares in the last quarter. Hedge funds and other institutional investors own 42.36% of the company’s stock.

About Coty

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.