Coty (NYSE:COTY) Shares Gap Up – Should You Buy?

Shares of Coty Inc. (NYSE:COTY) gapped up prior to trading on Thursday . The stock had previously closed at $5.54, but opened at $5.77. Coty shares last traded at $5.73, with a volume of 1,143,024 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on COTY. Barclays reduced their price target on Coty from $7.00 to $6.00 and set an “underweight” rating on the stock in a research report on Friday, January 17th. Piper Sandler reduced their price target on Coty from $9.00 to $8.00 and set an “overweight” rating on the stock in a research report on Monday, February 24th. Wells Fargo & Company reduced their price target on Coty from $9.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. The Goldman Sachs Group reduced their price target on Coty from $9.00 to $8.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 12th. Finally, DA Davidson reaffirmed a “buy” rating and issued a $12.50 price target on shares of Coty in a research report on Thursday, February 6th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $9.78.

Coty Stock Down 1.3 %

The business has a 50 day moving average of $6.29 and a 200-day moving average of $7.36. The stock has a market cap of $4.84 billion, a PE ratio of -555.50, a P/E/G ratio of 0.81 and a beta of 1.97. The company has a current ratio of 0.71, a quick ratio of 0.45 and a debt-to-equity ratio of 0.85.

Coty (NYSE:COTY) last released its quarterly earnings results on Monday, February 10th. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.11). Coty had a return on equity of 6.34% and a net margin of 0.22%. Equities research analysts predict that Coty Inc. will post 0.39 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of COTY. Norges Bank purchased a new position in shares of Coty in the 4th quarter valued at approximately $44,401,000. Amundi grew its stake in shares of Coty by 1,990,624.9% in the 4th 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 during the last quarter. Man Group plc purchased a new position in shares of Coty in the 4th quarter valued at approximately $28,473,000. Caisse Des Depots ET Consignations purchased a new position in shares of Coty in the 4th quarter valued at approximately $19,663,000. Finally, Ameriprise Financial Inc. grew its stake in shares of Coty by 12.1% in the 4th quarter. Ameriprise Financial Inc. now owns 20,214,382 shares of the company’s stock valued at $140,691,000 after purchasing an additional 2,175,120 shares during the last quarter. 42.36% of the stock is currently owned by hedge funds and other institutional investors.

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.