Canaccord Genuity Group Issues Pessimistic Forecast for Coty (NYSE:COTY) Stock Price

Coty (NYSE:COTY) had its target price lowered by analysts at Canaccord Genuity Group from $10.00 to $8.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective would indicate a potential upside of 29.68% from the stock’s current price.

Other research analysts have also issued reports about the stock. Barclays reduced their target price on shares of Coty from $7.00 to $6.00 and set an “underweight” rating for the company in a research note on Friday, January 17th. Deutsche Bank Aktiengesellschaft lowered their price target on Coty from $14.00 to $12.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. JPMorgan Chase & Co. lowered their target price on shares of Coty from $11.00 to $10.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 15th. Wells Fargo & Company lowered their price objective on shares of Coty from $9.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. Finally, Raymond James decreased their price target on Coty from $13.00 to $11.00 and set an “outperform” rating for the company in a research note on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $10.56.

Coty Price Performance

Shares of NYSE:COTY opened at $6.17 on Wednesday. The company has a market cap of $5.37 billion, a PE ratio of 36.29, a P/E/G ratio of 0.72 and a beta of 1.89. Coty has a fifty-two week low of $6.13 and a fifty-two week high of $13.30. The firm has a 50-day simple moving average of $7.16 and a 200 day simple moving average of $8.11. The company has a quick ratio of 0.55, a current ratio of 0.85 and a debt-to-equity ratio of 0.93.

Coty (NYSE:COTY) last posted its earnings results on Monday, February 10th. The company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.11). Coty had a net margin of 2.78% and a return on equity of 9.16%. On average, sell-side analysts anticipate that Coty will post 0.51 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Steward Partners Investment Advisory LLC grew its holdings in shares of Coty by 317.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,191 shares of the company’s stock valued at $29,000 after acquiring an additional 3,186 shares in the last quarter. Blue Trust Inc. boosted its position in Coty by 330.3% during the third quarter. Blue Trust Inc. now owns 3,107 shares of the company’s stock valued at $31,000 after purchasing an additional 2,385 shares during the last quarter. Allworth Financial LP grew its stake in Coty by 145.0% in the fourth quarter. Allworth Financial LP now owns 5,623 shares of the company’s stock valued at $42,000 after purchasing an additional 3,328 shares in the last quarter. R Squared Ltd acquired a new position in Coty in the 4th quarter worth about $54,000. Finally, US Bancorp DE increased its position in Coty by 116.0% in the 4th quarter. US Bancorp DE now owns 9,473 shares of the company’s stock worth $66,000 after purchasing an additional 5,088 shares during the last quarter. 42.36% of the stock is owned by hedge funds and other institutional investors.

About Coty

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.