Canaccord Genuity Group Reaffirms “Hold” Rating for Coty (NYSE:COTY)

Coty (NYSE:COTY)‘s stock had its “hold” rating reaffirmed by research analysts at Canaccord Genuity Group in a note issued to investors on Thursday, Marketbeat reports. They currently have a $5.00 price objective on the stock, down from their previous price objective of $8.00. Canaccord Genuity Group’s price objective would indicate a potential upside of 7.07% from the stock’s previous close.

Several other brokerages also recently issued reports on COTY. Evercore ISI reduced their price target on shares of Coty from $15.00 to $10.00 and set an “outperform” rating on the stock in a report on Wednesday, February 12th. Piper Sandler lowered their target price on Coty from $9.00 to $8.00 and set an “overweight” rating on the stock in a report on Monday, February 24th. Bank of America cut Coty from a “buy” rating to an “underperform” rating and cut their price target for the stock from $9.00 to $4.50 in a report on Tuesday, April 15th. JPMorgan Chase & Co. decreased their price objective on Coty from $7.00 to $6.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. Finally, Citigroup raised shares of Coty from a “neutral” rating to a “buy” rating and boosted their target price for the company from $7.00 to $8.00 in a research note on Thursday, March 20th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $7.80.

Coty Price Performance

COTY stock opened at $4.67 on Thursday. The company has a market cap of $4.07 billion, a price-to-earnings ratio of -467.00, a PEG ratio of 0.81 and a beta of 1.90. 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 firm has a 50 day moving average of $5.22 and a 200-day moving average of $6.38. Coty has a 12-month low of $4.46 and a 12-month high of $11.41.

Coty (NYSE:COTY) last posted its earnings results on Tuesday, May 6th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.04). The firm had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.31 billion. Coty had a net margin of 0.22% and a return on equity of 6.34%. The firm’s revenue for the quarter was down 6.2% on a year-over-year basis. During the same period last year, the company posted $0.05 EPS. As a group, equities analysts expect that Coty will post 0.39 EPS for the current fiscal year.

Institutional Investors Weigh In On Coty

Several institutional investors have recently bought and sold shares of the business. Norges Bank purchased a new position in Coty in the fourth quarter valued at about $44,401,000. Amundi raised its holdings in shares of Coty by 1,990,624.9% during the 4th quarter. Amundi now owns 4,479,131 shares of the company’s stock valued at $30,503,000 after buying an additional 4,478,906 shares during the period. Man Group plc purchased a new stake in shares of Coty during the 4th quarter valued at about $28,473,000. Caisse Des Depots ET Consignations acquired a new position in Coty during the 4th quarter worth approximately $19,663,000. Finally, Assenagon Asset Management S.A. boosted its holdings in Coty by 162.2% in the 1st quarter. Assenagon Asset Management S.A. now owns 4,300,292 shares of the company’s stock worth $23,523,000 after acquiring an additional 2,660,221 shares during the period. 42.36% of the stock is currently 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.