Royal Bank of Canada Reiterates Outperform Rating for Coty (NYSE:COTY)

Coty (NYSE:COTYGet Free Report)‘s stock had its “outperform” rating reissued by equities research analysts at Royal Bank of Canada in a research report issued on Friday, Benzinga reports. They currently have a $14.00 price target on the stock. Royal Bank of Canada’s price objective points to a potential upside of 20.48% from the stock’s current price.

A number of other research firms also recently commented on COTY. Morgan Stanley dropped their price objective on Coty from $13.00 to $12.00 and set an “equal weight” rating on the stock in a report on Thursday, November 9th. Raymond James dropped their price objective on Coty from $15.00 to $13.00 and set an “outperform” rating on the stock in a report on Monday, October 23rd. TD Cowen assumed coverage on Coty in a report on Tuesday, October 17th. They issued a “market perform” rating and a $11.00 price objective on the stock. StockNews.com downgraded Coty from a “buy” rating to a “hold” rating in a report on Thursday, November 2nd. Finally, DA Davidson increased their price objective on Coty from $17.00 to $17.50 and gave the stock a “buy” rating in a report on Friday. Nine analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $12.94.

View Our Latest Stock Analysis on COTY

Coty Price Performance

Shares of COTY opened at $11.62 on Friday. The company has a market capitalization of $10.36 billion, a price-to-earnings ratio of 33.20, a P/E/G ratio of 6.16 and a beta of 1.89. Coty has a fifty-two week low of $9.02 and a fifty-two week high of $13.46. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.85 and a quick ratio of 0.49. The business’s 50-day moving average is $12.13 and its 200-day moving average is $11.34.

Coty (NYSE:COTYGet Free Report) last issued its earnings results on Wednesday, February 7th. The company reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.05. The company had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.68 billion. Coty had a return on equity of 11.91% and a net margin of 5.39%. The firm’s quarterly revenue was up 13.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.22 EPS. Equities research analysts expect that Coty will post 0.44 EPS for the current fiscal year.

Coty announced that its board has authorized a stock repurchase plan on Monday, November 13th that allows the company to repurchase $600.00 million in shares. This repurchase authorization allows the company to repurchase up to 7.1% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Institutional Investors Weigh In On Coty

Several hedge funds have recently modified their holdings of the business. United Services Automobile Association boosted its position in shares of Coty by 4.1% in the third quarter. United Services Automobile Association now owns 26,688 shares of the company’s stock valued at $293,000 after acquiring an additional 1,048 shares during the period. Parkside Financial Bank & Trust boosted its position in shares of Coty by 5.9% in the third quarter. Parkside Financial Bank & Trust now owns 18,833 shares of the company’s stock valued at $207,000 after acquiring an additional 1,051 shares during the period. Dorsey Wright & Associates lifted its position in Coty by 0.4% in the third quarter. Dorsey Wright & Associates now owns 296,868 shares of the company’s stock worth $3,257,000 after purchasing an additional 1,103 shares during the period. Comerica Bank bought a new position in Coty in the second quarter worth $150,000. Finally, Securian Asset Management Inc. lifted its position in Coty by 4.2% in the fourth quarter. Securian Asset Management Inc. now owns 31,605 shares of the company’s stock worth $393,000 after purchasing an additional 1,268 shares during the period. 37.10% of the stock is owned by institutional investors.

About Coty

(Get Free Report)

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.

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