Zacks Investment Research cut shares of Coty Inc. (NYSE:COTY) from a hold rating to a sell rating in a research report released on Thursday, July 20th.
According to Zacks, “Coty’s shares have underperformed the Cosmetics & Toiletries industry in the last one year. We note that the consumer beauty segment have been witnessing sluggish results since past many quarters. Though the acquisitions of the P&G Beauty Business, Younique and the Hypermarcas Brands drove consumer beauty segment’s sales by more than 100% in the third-quarter fiscal 2017 results, organically, sales have declined 6%, primarily reflecting a negative price and mix impact. Declines in the retail nail, color cosmetics and hair color categories in the U.S. and mass fragrance in Western Europe and the U.S. are expected to continue to negatively impact business. While the company has a strong portfolio of brands and keeps innovating products to boost its sales, increasing competitive pressure, currency headwinds and changing consumer preferences have been the major deterrents for the company.”
Other equities research analysts have also issued reports about the stock. Barclays PLC set a $19.00 price target on shares of Coty and gave the stock a hold rating in a research note on Saturday, May 13th. Societe Generale began coverage on shares of Coty in a research note on Monday, June 12th. They set a buy rating and a $21.00 price target on the stock. Royal Bank Of Canada reiterated a hold rating and set a $22.00 price target on shares of Coty in a research note on Thursday, June 8th. BidaskClub downgraded shares of Coty from a sell rating to a strong sell rating in a research report on Wednesday, July 12th. Finally, Jefferies Group LLC started coverage on shares of Coty in a research report on Friday, June 2nd. They set a hold rating and a $17.00 price objective on the stock. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus price target of $23.17.
Shares of Coty (COTY) traded up 0.56% during midday trading on Thursday, hitting $19.67. 3,544,869 shares of the stock were exchanged. Coty has a 12 month low of $16.95 and a 12 month high of $29.30. The company’s market cap is $14.71 billion. The stock has a 50 day moving average price of $19.25 and a 200-day moving average price of $18.82.
In related news, insider Greerson Greene Mcmullen acquired 20,200 shares of the firm’s stock in a transaction that occurred on Wednesday, June 14th. The shares were purchased at an average price of $19.32 per share, with a total value of $390,264.00. Following the completion of the acquisition, the insider now owns 99,507 shares in the company, valued at $1,922,475.24. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Edgar O. Huber bought 79,570 shares of the business’s stock in a transaction on Friday, May 26th. The shares were acquired at an average price of $19.05 per share, with a total value of $1,515,808.50. Following the transaction, the insider now owns 79,570 shares of the company’s stock, valued at approximately $1,515,808.50. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 188,620 shares of company stock worth $3,588,363. 16.10% of the stock is owned by insiders.
Coty Company Profile
Coty Inc is a beauty company. The Company operates through four segments: Fragrances, Color Cosmetics, Skin & Body Care and Brazil Acquisition. Its fragrance products include a range of men’s and women’s products. Its fragrance brands include Calvin Klein, Marc Jacobs, Davidoff, Chloe, Balenciaga, Beyonce, Bottega Veneta, Miu Miu and Roberto Cavalli.
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