Piper Sandler Cuts Coty (NYSE:COTY) Price Target to $8.00

Coty (NYSE:COTY) had its target price reduced by stock analysts at Piper Sandler from $9.00 to $8.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s target price would indicate a potential upside of 39.98% from the stock’s current price.

Other equities research analysts also recently issued reports about the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $13.00 price target on shares of Coty in a report on Wednesday, February 12th. DA Davidson reaffirmed a “buy” rating and set a $12.50 price objective on shares of Coty in a research note on Thursday, February 6th. TD Cowen lowered shares of Coty from a “buy” rating to a “hold” rating and reduced their price objective for the company from $11.00 to $8.50 in a research note on Wednesday, November 13th. Morgan Stanley reduced 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. Finally, Canaccord Genuity Group reduced their price objective on shares of Coty from $10.00 to $8.00 and set a “buy” rating for the company in a research note on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, Coty has a consensus rating of “Moderate Buy” and a consensus target price of $9.89.

Coty Price Performance

Shares of NYSE COTY opened at $5.72 on Monday. Coty has a twelve month low of $5.42 and a twelve month high of $13.30. The company has a current ratio of 0.71, a quick ratio of 0.45 and a debt-to-equity ratio of 0.85. The company has a market capitalization of $4.98 billion, a price-to-earnings ratio of -571.50, a PEG ratio of 0.81 and a beta of 1.89. The firm has a 50-day moving average of $6.81 and a two-hundred day moving average of $7.86.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Banco Santander S.A. lifted its holdings in shares of Coty by 0.3% during the third quarter. Banco Santander S.A. now owns 23,112,758 shares of the company’s stock valued at $217,029,000 after acquiring an additional 79,180 shares during the period. Ameriprise Financial Inc. increased its stake in shares of Coty by 12.1% in the fourth quarter. Ameriprise Financial Inc. now owns 20,214,382 shares of the company’s stock valued at $140,691,000 after buying an additional 2,175,120 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Coty by 13.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 13,318,685 shares of the company’s stock valued at $92,697,000 after buying an additional 1,569,315 shares in the last quarter. State Street Corp increased its stake in shares of Coty by 2.3% in the third quarter. State Street Corp now owns 11,043,208 shares of the company’s stock valued at $103,696,000 after buying an additional 251,964 shares in the last quarter. Finally, Clearbridge Investments LLC increased its stake in shares of Coty by 0.4% in the fourth quarter. Clearbridge Investments LLC now owns 9,824,638 shares of the company’s stock valued at $68,379,000 after buying an additional 37,412 shares in the last quarter. 42.36% of the stock is 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.