Coty (NYSE:COTY) Upgraded to Buy at StockNews.com

Posted by on May 28th, 2022

Coty (NYSE:COTY – Get Rating) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.

Several other brokerages have also commented on COTY. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Coty from $12.00 to $11.00 in a report on Tuesday, May 10th. Raymond James decreased their target price on shares of Coty from $13.00 to $12.00 and set an “outperform” rating for the company in a research note on Monday, April 18th. JPMorgan Chase & Co. decreased their target price on shares of Coty from $10.00 to $8.00 in a research note on Tuesday, May 10th. Finally, Barclays decreased their target price on shares of Coty from $10.00 to $8.00 in a research note on Wednesday, May 11th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $11.05.

Coty stock opened at $7.08 on Friday. The company has a current ratio of 0.69, a quick ratio of 0.49 and a debt-to-equity ratio of 1.14. The firm has a 50-day moving average of $7.87 and a 200-day moving average of $8.89. The firm has a market cap of $5.94 billion, a P/E ratio of 47.20 and a beta of 2.37. Coty has a 1-year low of $5.90 and a 1-year high of $11.12.

Coty (NYSE:COTY – Get Rating) last issued its quarterly earnings data on Monday, May 9th. The company reported $0.03 EPS for the quarter, topping the consensus estimate of $0.01 by $0.02. Coty had a net margin of 3.93% and a return on equity of 6.85%. The business had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.15 billion. Coty’s revenue for the quarter was up 15.4% compared to the same quarter last year. Research analysts forecast that Coty will post 0.27 earnings per share for the current fiscal year.

In related news, Director Beatrice Ballini bought 7,000 shares of the company’s stock in a transaction that occurred on Thursday, March 10th. The shares were bought at an average price of $7.87 per share, for a total transaction of $55,090.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sue Nabi bought 4,786 shares of the company’s stock in a transaction that occurred on Thursday, March 10th. The stock was bought at an average price of $8.00 per share, for a total transaction of $38,288.00. The disclosure for this purchase can be found here. Insiders have purchased 137,692 shares of company stock valued at $935,907 in the last three months. 3.10% of the stock is owned by insiders.

A number of hedge funds have recently modified their holdings of the stock. Moors & Cabot Inc. purchased a new position in shares of Coty during the 3rd quarter worth $287,000. First Quadrant L P CA purchased a new position in shares of Coty during the 4th quarter worth $42,000. NN Investment Partners Holdings N.V. purchased a new position in shares of Coty during the 4th quarter worth $43,000. Amplius Wealth Advisors LLC purchased a new position in shares of Coty during the 4th quarter worth $46,000. Finally, Nisa Investment Advisors LLC purchased a new position in shares of Coty during the 4th quarter worth $41,000. Institutional investors own 37.60% of the company’s stock.

Coty Company Profile (Get Rating)

Coty Inc, together with its subsidiaries, engages in the manufacture, marketing, distribution, and sale of beauty products worldwide. The company provides prestige fragrances, skin care, and color cosmetics products through prestige retailers, including perfumeries, department stores, e-retailers, direct-to-consumer websites, and duty-free shops under the Alexander McQueen, Burberry, Bottega Veneta, Calvin Klein, Cavalli, Chloe, Davidoff, Escada, Gucci, Hugo Boss, Jil Sander, Joop!, Kylie Jenner, Lacoste, Lancaster, Marc Jacobs, Miu Miu, Nikos, philosophy, Kim Kardashian West, and Tiffany & Co brands.

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