Canaccord Genuity Group Issues Pessimistic Forecast for Coty (NYSE:COTY) Stock Price

Coty (NYSE:COTY) had its price target reduced by Canaccord Genuity Group from $10.00 to $8.00 in a research note published on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

Other equities research analysts have also issued reports about the stock. DA Davidson restated a “buy” rating and issued a $12.50 price objective on shares of Coty in a report on Thursday, February 6th. Wells Fargo & Company lowered their price target on shares of Coty from $9.00 to $7.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $14.00 price objective on shares of Coty in a research note on Tuesday, October 15th. The Goldman Sachs Group initiated coverage on Coty in a research note on Friday, December 13th. They issued a “neutral” rating and a $9.00 target price for the company. Finally, Barclays reduced their price target on Coty from $7.00 to $6.00 and set an “underweight” rating on the stock in a research report on Friday, January 17th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $10.17.

Coty Stock Down 2.9 %

COTY opened at $5.59 on Wednesday. The company has a quick ratio of 0.55, a current ratio of 0.85 and a debt-to-equity ratio of 0.93. The business’s fifty day simple moving average is $7.01 and its 200 day simple moving average is $8.02. Coty has a 52 week low of $5.55 and a 52 week high of $13.30. The stock has a market cap of $4.86 billion, a PE ratio of 32.85, a P/E/G ratio of 0.72 and a beta of 1.89.

Coty (NYSE:COTY) last announced its quarterly earnings data on Monday, February 10th. The company reported $0.11 EPS for the quarter, missing the consensus estimate 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, research analysts expect that Coty will post 0.51 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Coty

Several institutional investors and hedge funds have recently modified their holdings of COTY. State Street Corp lifted its stake in shares of Coty by 2.3% in the 3rd quarter. State Street Corp now owns 11,043,208 shares of the company’s stock valued at $103,696,000 after purchasing an additional 251,964 shares during the period. Barclays PLC lifted its position in Coty by 147.1% during the third quarter. Barclays PLC now owns 1,165,806 shares of the company’s stock valued at $10,947,000 after buying an additional 693,961 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Coty by 16.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 743,445 shares of the company’s stock valued at $6,981,000 after buying an additional 107,014 shares in the last quarter. Compass Wealth Management LLC grew its position in shares of Coty by 12.6% in the 3rd quarter. Compass Wealth Management LLC now owns 590,725 shares of the company’s stock worth $5,547,000 after buying an additional 65,900 shares during the period. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Coty in the 3rd quarter worth about $3,681,000. 42.36% of the stock is owned by hedge funds and other 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.