Coty Inc. (COTY) Lifted to “Neutral” at B. Riley
B. Riley upgraded shares of Coty Inc. (NYSE:COTY) from a sell rating to a neutral rating in a report released on Thursday morning. B. Riley currently has $23.25 price objective on the stock, up from their prior price objective of $21.50.
A number of other equities research analysts also recently commented on COTY. Barclays PLC reiterated a hold rating on shares of Coty in a report on Saturday, July 9th. Citigroup Inc. boosted their target price on shares of Coty from $28.00 to $30.00 and gave the company a neutral rating in a report on Thursday, August 25th. Zacks Investment Research upgraded shares of Coty from a hold rating to a buy rating and set a $30.00 target price for the company in a report on Monday, July 11th. Berenberg Bank initiated coverage on shares of Coty in a report on Friday, September 9th. They issued a sell rating and a $23.00 target price for the company. Finally, Deutsche Bank AG restated a buy rating and issued a $32.00 target price on shares of Coty in a report on Thursday, August 18th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Coty presently has an average rating of Hold and an average price target of $27.66.
Shares of Coty (NYSE:COTY) opened at 23.79 on Thursday. The stock has a 50 day moving average of $25.68 and a 200-day moving average of $26.90. The firm has a market capitalization of $8.00 billion, a price-to-earnings ratio of 54.07 and a beta of 0.42. Coty has a one year low of $21.48 and a one year high of $31.60.
Coty (NYSE:COTY) last issued its quarterly earnings results on Tuesday, August 16th. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.07. The business earned $1.08 billion during the quarter, compared to the consensus estimate of $1.05 billion. Coty had a net margin of 3.61% and a return on equity of 80.72%. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.08 earnings per share. On average, equities analysts anticipate that Coty will post $1.11 earnings per share for the current fiscal year.
In other news, SVP Sebastien Froidefond sold 3,983 shares of the business’s stock in a transaction on Monday, July 11th. The shares were sold at an average price of $27.02, for a total transaction of $107,620.66. Following the transaction, the senior vice president now directly owns 20,862 shares of the company’s stock, valued at $563,691.24. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Cosmetics B.V. Jab bought 175,000 shares of Coty stock in a transaction dated Monday, August 22nd. The shares were purchased at an average cost of $29.04 per share, for a total transaction of $5,082,000.00. Following the completion of the transaction, the insider now owns 7,831,672 shares of the company’s stock, valued at approximately $227,431,754.88. The disclosure for this purchase can be found here. Insiders own 16.10% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Legal & General Group Plc boosted its stake in Coty by 4.9% in the first quarter. Legal & General Group Plc now owns 4,443 shares of the company’s stock valued at $124,000 after buying an additional 207 shares in the last quarter. Globeflex Capital L P bought a new stake in Coty during the second quarter valued at about $156,000. FDx Advisors Inc. bought a new stake in Coty during the second quarter valued at about $205,000. BlackRock Inc. boosted its stake in Coty by 324.8% in the first quarter. BlackRock Inc. now owns 8,696 shares of the company’s stock valued at $242,000 after buying an additional 6,649 shares in the last quarter. Finally, Stifel Financial Corp boosted its stake in Coty by 2.3% in the second quarter. Stifel Financial Corp now owns 9,405 shares of the company’s stock valued at $245,000 after buying an additional 212 shares in the last quarter. 17.44% of the stock is currently owned by institutional investors and hedge funds.
Coty Inc is a beauty company. The Company manufactures and markets beauty products with distribution in over 130 countries and territories across both prestige and mass markets. The Company’s segments include Fragrances, Color Cosmetics, and Skin & Body Care. Its Fragrances products include a range of men’s and women’s products, and also include fashion designer, celebrity and lifestyle brands.
Receive News & Ratings for Coty Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Coty Inc. and related companies with MarketBeat.com's FREE daily email newsletter.