Coty (NYSE:COTY) Shares Gap Down to $11.62

Coty Inc. (NYSE:COTYGet Free Report)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $11.62, but opened at $11.38. Coty shares last traded at $11.21, with a volume of 593,603 shares trading hands.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. TheStreet upgraded Coty from a “c+” rating to a “b-” rating in a research note on Thursday, February 8th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $14.00 target price on shares of Coty in a research note on Friday, February 9th. Barclays boosted their target price on Coty from $11.00 to $13.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 16th. Wells Fargo & Company upped their price objective on shares of Coty from $11.00 to $12.00 and gave the company an “equal weight” rating in a report on Friday, February 9th. Finally, TD Cowen upgraded Coty from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $13.00 to $16.00 in a research report on Thursday, February 22nd. Eight analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $13.28.

Check Out Our Latest Analysis on Coty

Coty Price Performance

The company has a 50-day moving average of $12.23 and a two-hundred day moving average of $11.52. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.85 and a quick ratio of 0.58. The stock has a market capitalization of $9.88 billion, a PE ratio of 33.20, a P/E/G ratio of 6.57 and a beta of 1.82.

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

Insider Buying and Selling

In other news, Director Robert S. Singer sold 30,000 shares of the company’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $12.70, for a total value of $381,000.00. Following the sale, the director now directly owns 120,000 shares of the company’s stock, valued at approximately $1,524,000. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Robert S. Singer sold 30,000 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $12.70, for a total value of $381,000.00. Following the transaction, the director now owns 120,000 shares in the company, valued at $1,524,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert S. Singer sold 90,000 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $12.56, for a total transaction of $1,130,400.00. Following the sale, the director now directly owns 169,982 shares of the company’s stock, valued at approximately $2,134,973.92. The disclosure for this sale can be found here. 5.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. BluePath Capital Management LLC bought a new position in shares of Coty during the third quarter worth about $29,000. DekaBank Deutsche Girozentrale bought a new stake in shares of Coty in the 3rd quarter valued at $31,000. C M Bidwell & Associates Ltd. increased its position in shares of Coty by 1,536.6% during the second quarter. C M Bidwell & Associates Ltd. now owns 2,815 shares of the company’s stock worth $35,000 after buying an additional 2,643 shares during the period. Atlas Capital Advisors LLC acquired a new stake in shares of Coty during the second quarter worth $37,000. Finally, Coppell Advisory Solutions LLC bought a new position in Coty during the second quarter worth $47,000. Institutional investors own 42.36% of the company’s stock.

About Coty

(Get Free Report)

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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