Coty (NYSE:COTY) Cut to Underperform at Bank of America

Coty (NYSE:COTY) was downgraded by analysts at Bank of America from a “buy” rating to an “underperform” rating in a research note issued to investors on Tuesday, MarketBeat reports. They presently have a $4.50 target price on the stock, down from their prior target price of $9.00. Bank of America‘s target price points to a potential downside of 3.64% from the company’s previous close.

COTY has been the subject of a number of other research reports. The Goldman Sachs Group decreased their price target on Coty from $9.00 to $8.00 and set a “neutral” rating for the company in a research report on Wednesday, February 12th. Berenberg Bank initiated coverage on shares of Coty in a report on Tuesday, March 25th. They set a “buy” rating and a $7.50 price target on the stock. Morgan Stanley decreased their price objective on shares of Coty from $9.00 to $7.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 12th. Barclays cut their target price on shares of Coty from $5.00 to $4.50 and set an “underweight” rating on the stock in a research note on Friday, April 11th. Finally, Citigroup raised Coty from a “neutral” rating to a “buy” rating and raised their target price for the stock from $7.00 to $8.00 in a research report on Thursday, March 20th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $8.24.

Coty Stock Down 1.7 %

NYSE COTY opened at $4.67 on Tuesday. Coty has a 12 month low of $4.57 and a 12 month high of $11.81. The company has a market capitalization of $4.07 billion, a P/E ratio of -467.00, a PEG ratio of 0.81 and a beta of 1.75. The company’s 50 day simple moving average is $5.52 and its 200 day simple moving average is $6.82. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.71 and a quick ratio of 0.45.

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

Hedge Funds Weigh In On Coty

Several institutional investors have recently bought and sold shares of the stock. Steward Partners Investment Advisory LLC increased its holdings in shares of Coty by 317.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,191 shares of the company’s stock valued at $29,000 after acquiring an additional 3,186 shares during the last quarter. GAMMA Investing LLC boosted its position in Coty by 140.2% during the first quarter. GAMMA Investing LLC now owns 5,506 shares of the company’s stock worth $30,000 after purchasing an additional 3,214 shares during the period. Allworth Financial LP grew its holdings in Coty by 145.0% during the fourth quarter. Allworth Financial LP now owns 5,623 shares of the company’s stock valued at $42,000 after purchasing an additional 3,328 shares during the last quarter. Blue Trust Inc. raised its position in shares of Coty by 124.8% in the fourth quarter. Blue Trust Inc. now owns 6,984 shares of the company’s stock valued at $49,000 after purchasing an additional 3,877 shares during the period. Finally, Quadrant Capital Group LLC lifted its stake in shares of Coty by 55.3% in the fourth quarter. Quadrant Capital Group LLC now owns 7,307 shares of the company’s stock worth $51,000 after buying an additional 2,601 shares during the last quarter. 42.36% of the stock is currently owned by 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.