Coty (NYSE:COTY) Stock Price Down 1.3% After Analyst Downgrade

Coty Inc. (NYSE:COTY)’s share price fell 1.3% during trading on Friday after Barclays lowered their price target on the stock from $11.00 to $10.00. Barclays currently has an equal weight rating on the stock. Coty traded as low as $9.85 and last traded at $9.89. 798,234 shares were traded during mid-day trading, a decline of 80% from the average session volume of 3,955,333 shares. The stock had previously closed at $10.02.

Other equities research analysts have also recently issued reports about the company. Bank of America reduced their price objective on Coty from $15.00 to $14.00 and set a “buy” rating on the stock in a research note on Wednesday, July 10th. Stifel Nicolaus reduced their price objective on Coty from $12.00 to $11.00 and set a “hold” rating on the stock in a research note on Wednesday. DA Davidson boosted their price objective on Coty from $16.50 to $17.00 and gave the stock a “buy” rating in a research note on Wednesday. Evercore ISI reissued an “outperform” rating and set a $15.00 price objective on shares of Coty in a research note on Wednesday. Finally, Piper Sandler reduced their price objective on Coty from $15.00 to $13.00 and set an “overweight” rating on the stock in a research note on Thursday, July 11th. Eight equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $12.85.

Institutional Trading of Coty

A number of hedge funds have recently bought and sold shares of the stock. Envestnet Portfolio Solutions Inc. lifted its holdings in Coty by 9.8% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 12,388 shares of the company’s stock worth $124,000 after buying an additional 1,104 shares during the period. Securian Asset Management Inc. lifted its holdings in shares of Coty by 4.2% during the 4th quarter. Securian Asset Management Inc. now owns 31,605 shares of the company’s stock valued at $393,000 after purchasing an additional 1,268 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Coty by 10.6% during the 2nd quarter. American Century Companies Inc. now owns 14,746 shares of the company’s stock valued at $148,000 after purchasing an additional 1,414 shares during the last quarter. Federated Hermes Inc. lifted its holdings in shares of Coty by 4.2% during the 4th quarter. Federated Hermes Inc. now owns 46,244 shares of the company’s stock valued at $574,000 after purchasing an additional 1,871 shares during the last quarter. Finally, Avantax Advisory Services Inc. lifted its holdings in shares of Coty by 3.1% during the 1st quarter. Avantax Advisory Services Inc. now owns 65,960 shares of the company’s stock valued at $789,000 after purchasing an additional 2,012 shares during the last quarter. Hedge funds and other institutional investors own 42.36% of the company’s stock.

Coty Stock Performance

The firm has a fifty day moving average price of $9.76 and a 200 day moving average price of $10.87. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.50 and a current ratio of 0.80. The stock has a market cap of $8.62 billion, a PE ratio of 43.57, a price-to-earnings-growth ratio of 3.31 and a beta of 1.91.

Coty (NYSE:COTY) last issued its quarterly earnings data on Tuesday, August 20th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.07). Coty had a net margin of 3.59% and a return on equity of 8.75%. The business had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.38 billion. During the same quarter in the prior year, the company posted $0.01 EPS. The business’s revenue for the quarter was up .9% on a year-over-year basis. Research analysts forecast that Coty Inc. will post 0.44 earnings per share for the current fiscal year.

Coty Company Profile

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.