Evercore ISI Cuts Coty (NYSE:COTY) Price Target to $10.00

Coty (NYSE:COTY) had its price objective lowered by Evercore ISI from $15.00 to $10.00 in a research report report published on Wednesday,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Several other brokerages also recently commented on COTY. Morgan Stanley reduced their target price on Coty from $9.00 to $7.00 and set an “equal weight” rating on the stock in a report on Wednesday. DA Davidson restated a “buy” rating and set a $12.50 target price on shares of Coty in a report on Thursday, February 6th. TD Cowen cut Coty from a “buy” rating to a “hold” rating and cut their price target for the company from $11.00 to $8.50 in a report on Wednesday, November 13th. The Goldman Sachs Group started coverage on shares of Coty in a report on Friday, December 13th. They set a “neutral” rating and a $9.00 price objective on the stock. Finally, JPMorgan Chase & Co. dropped their target price on shares of Coty from $11.00 to $10.00 and set a “neutral” rating for the company in a research note on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, Coty presently has an average rating of “Moderate Buy” and an average price target of $10.17.

Coty Price Performance

Shares of COTY stock opened at $5.59 on Wednesday. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.85 and a quick ratio of 0.55. The stock’s fifty day simple moving average is $7.01 and its 200 day simple moving average is $8.02. Coty has a one year low of $5.55 and a one year high of $13.30. The firm has a market cap of $4.86 billion, a price-to-earnings ratio of 32.85, a P/E/G ratio of 0.72 and a beta of 1.89.

Coty (NYSE:COTY) last issued its earnings results on Monday, February 10th. The company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.11). Coty had a net margin of 2.78% and a return on equity of 9.16%. On average, analysts expect that Coty will post 0.51 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Coty

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in shares of Coty in the 4th quarter valued at approximately $44,401,000. Amundi increased its stake in Coty by 1,990,624.9% in the fourth quarter. Amundi now owns 4,479,131 shares of the company’s stock valued at $30,503,000 after purchasing an additional 4,478,906 shares in the last quarter. Caisse Des Depots ET Consignations acquired a new stake in Coty in the fourth quarter worth $19,663,000. Vaughan Nelson Investment Management L.P. boosted its position in shares of Coty by 42.6% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 5,642,602 shares of the company’s stock worth $52,984,000 after purchasing an additional 1,687,045 shares in the last quarter. Finally, Thrivent Financial for Lutherans grew its holdings in shares of Coty by 25.5% in the 4th quarter. Thrivent Financial for Lutherans now owns 8,096,912 shares of the company’s stock valued at $56,354,000 after buying an additional 1,646,839 shares during the period. Institutional investors own 42.36% of the company’s stock.

About Coty

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.