Coty (NYSE:COTY) Stock Crosses Below Two Hundred Day Moving Average – Here’s What Happened

Coty (NYSE:COTY) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $3.71 and traded as low as $2.48. Coty shares last traded at $2.5050, with a volume of 8,624,683 shares trading hands.

Analyst Ratings Changes

COTY has been the topic of a number of recent research reports. Royal Bank Of Canada cut their price objective on shares of Coty from $10.00 to $8.00 and set an “outperform” rating on the stock in a report on Monday, February 9th. Wall Street Zen upgraded Coty from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Rothschild & Co Redburn set a $3.60 target price on Coty in a research note on Tuesday, November 25th. Barclays reduced their price target on shares of Coty from $3.00 to $2.50 and set an “underweight” rating for the company in a research report on Monday, February 9th. Finally, Canaccord Genuity Group set a $2.50 price objective on Coty in a research report on Monday, February 9th. Two investment analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $4.51.

Coty Price Performance

The firm has a market capitalization of $2.20 billion, a P/E ratio of -4.04, a price-to-earnings-growth ratio of 0.33 and a beta of 0.95. The firm has a 50 day moving average price of $3.09 and a 200-day moving average price of $3.71. The company has a current ratio of 0.79, a quick ratio of 0.52 and a debt-to-equity ratio of 0.81.

Coty (NYSE:COTY) last released its earnings results on Thursday, February 5th. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.04). Coty had a negative net margin of 9.13% and a positive return on equity of 5.38%. The company had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.66 billion. During the same period in the prior year, the firm posted $0.11 EPS. The business’s revenue for the quarter was up .5% compared to the same quarter last year. On average, analysts expect that Coty will post 0.39 earnings per share for the current year.

Hedge Funds Weigh In On Coty

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Coty by 5.8% in the fourth quarter. Vanguard Group Inc. now owns 39,903,562 shares of the company’s stock worth $122,903,000 after purchasing an additional 2,199,420 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Coty by 0.8% in the second quarter. BNP Paribas Financial Markets now owns 34,460,292 shares of the company’s stock worth $160,240,000 after buying an additional 267,261 shares during the period. Credit Agricole S A purchased a new stake in shares of Coty in the third quarter worth approximately $63,824,000. Dimensional Fund Advisors LP lifted its stake in shares of Coty by 0.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 13,938,505 shares of the company’s stock worth $42,933,000 after acquiring an additional 60,951 shares during the last quarter. Finally, Norges Bank purchased a new position in Coty during the 4th quarter valued at $41,867,000. 42.36% of the stock is currently owned by institutional investors.

Coty Company Profile

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.