Coty’s (COTY) Buy Rating Reaffirmed at DA Davidson

DA Davidson reissued their buy rating on shares of Coty (NYSE:COTY) in a report released on Monday morning, Benzinga reports. They currently have a $17.50 target price on the stock.

Several other equities research analysts have also issued reports on COTY. Royal Bank of Canada reaffirmed an outperform rating and set a $14.00 price target on shares of Coty in a report on Friday, February 9th. TD Cowen upgraded shares of Coty from a market perform rating to an outperform rating and upped their price target for the stock from $13.00 to $16.00 in a report on Thursday, February 22nd. TheStreet raised Coty from a c+ rating to a b- rating in a report on Thursday, February 8th. Barclays boosted their price objective on Coty from $11.00 to $13.00 and gave the stock an equal weight rating in a research report on Tuesday, January 16th. Finally, Wells Fargo & Company increased their target price on Coty from $11.00 to $12.00 and gave the company an equal weight rating in a research report on Friday, February 9th. Eight research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Coty has a consensus rating of Hold and a consensus price target of $13.28.

Coty Stock Performance

Shares of Coty stock opened at $11.06 on Monday. The company has a 50 day moving average of $12.08 and a 200-day moving average of $11.49. The company has a market cap of $9.90 billion, a PE ratio of 31.60, a price-to-earnings-growth ratio of 6.16 and a beta of 1.82. The company has a current ratio of 0.85, a quick ratio of 0.58 and a debt-to-equity ratio of 0.80. Coty has a 1-year low of $9.02 and a 1-year high of $13.46.

Coty (NYSE:COTY) 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. Coty had a return on equity of 11.91% and a net margin of 5.39%. The firm had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter last year, the business posted $0.22 EPS. The company’s revenue was up 13.4% compared to the same quarter last year. As a group, equities research analysts forecast that Coty will post 0.45 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Robert S. Singer sold 30,000 shares of the stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $12.70, for a total transaction of $381,000.00. Following the transaction, the director now directly owns 120,000 shares of the company’s stock, valued at $1,524,000. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director Robert S. Singer sold 90,000 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $12.56, for a total transaction of $1,130,400.00. Following the completion of the sale, the director now owns 169,982 shares in the company, valued at $2,134,973.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Robert S. Singer sold 30,000 shares of Coty stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $12.70, for a total transaction of $381,000.00. Following the transaction, the director now directly owns 120,000 shares in the company, valued at $1,524,000. The disclosure for this sale can be found here. Company insiders own 5.80% of the company’s stock.

Hedge Funds Weigh In On Coty

Several hedge funds have recently modified their holdings of COTY. Clearbridge Investments LLC increased its position in shares of Coty by 123.3% during the first quarter. Clearbridge Investments LLC now owns 16,862,950 shares of the company’s stock valued at $151,598,000 after acquiring an additional 9,311,527 shares during the last quarter. BlackRock Inc. increased its position in shares of Coty by 20.0% during the 1st quarter. BlackRock Inc. now owns 46,632,257 shares of the company’s stock valued at $419,223,000 after purchasing an additional 7,760,564 shares during the last quarter. Banco Santander S.A. raised its stake in shares of Coty by 26.6% during the 2nd quarter. Banco Santander S.A. now owns 26,239,918 shares of the company’s stock worth $322,489,000 after purchasing an additional 5,513,900 shares during the period. Norges Bank purchased a new position in shares of Coty in the 4th quarter worth about $67,193,000. Finally, Goldman Sachs Group Inc. grew its position in Coty by 119.5% during the first quarter. Goldman Sachs Group Inc. now owns 8,312,124 shares of the company’s stock valued at $74,726,000 after buying an additional 4,525,332 shares during the period. Institutional investors own 42.36% of the company’s stock.

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.