Coty (NYSE:COTY) Shares Down 5.1% Following Analyst Downgrade

Coty Inc. (NYSE:COTY) shares dropped 5.1% during mid-day trading on Wednesday after Evercore ISI lowered their price target on the stock from $15.00 to $10.00. Evercore ISI currently has an outperform rating on the stock. Coty traded as low as $5.82 and last traded at $5.83. Approximately 2,884,451 shares changed hands during mid-day trading, a decline of 51% from the average daily volume of 5,861,950 shares. The stock had previously closed at $6.14.

A number of other brokerages have also recently commented on COTY. Canaccord Genuity Group lowered their price objective on shares of Coty from $10.00 to $8.00 and set a “buy” rating on the stock in a research note on Wednesday. Barclays lowered their price objective on shares of Coty from $7.00 to $6.00 and set an “underweight” rating on the stock in a research note on Friday, January 17th. Wells Fargo & Company lowered their price objective on shares of Coty from $9.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Coty from $14.00 to $12.00 and set a “buy” rating on the stock in a research note on Wednesday, October 16th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Coty from $11.00 to $10.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $10.28.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. New Age Alpha Advisors LLC purchased a new stake in shares of Coty during the fourth quarter valued at approximately $144,000. Norges Bank purchased a new stake in shares of Coty during the fourth quarter valued at approximately $44,401,000. Caisse Des Depots ET Consignations purchased a new stake in shares of Coty during the fourth quarter valued at approximately $19,663,000. JPMorgan Chase & Co. raised its stake in shares of Coty by 10.8% during the fourth quarter. JPMorgan Chase & Co. now owns 823,552 shares of the company’s stock valued at $5,732,000 after purchasing an additional 80,107 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Coty by 6.4% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 993,078 shares of the company’s stock valued at $6,763,000 after purchasing an additional 59,568 shares during the period. Hedge funds and other institutional investors own 42.36% of the company’s stock.

Coty Price Performance

The company has a market cap of $5.07 billion, a PE ratio of 34.09, a price-to-earnings-growth ratio of 0.72 and a beta of 1.89. The business’s 50 day moving average price is $7.16 and its 200-day moving average price is $8.11. The company has a quick ratio of 0.55, a current ratio of 0.85 and a debt-to-equity ratio of 0.93.

Coty (NYSE:COTY) last posted its quarterly earnings data 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 net margin of 2.78% and a return on equity of 9.16%. As a group, analysts forecast that Coty Inc. will post 0.51 earnings per share for the current year.

About Coty

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.