Morgan Stanley Lowers Coty (NYSE:COTY) Price Target to $4.25

Coty (NYSE:COTY) had its price objective reduced by Morgan Stanley from $5.00 to $4.25 in a research report report published on Monday morning,Benzinga reports. They currently have an equal weight rating on the stock.

Several other research analysts have also recently weighed in on the stock. Evercore ISI lowered their target price on shares of Coty from $10.00 to $7.00 and set an “outperform” rating on the stock in a research note on Thursday, August 21st. Royal Bank Of Canada cut their price target on shares of Coty from $12.00 to $10.00 and set a “sector perform” rating for the company in a research note on Friday, August 22nd. Canaccord Genuity Group lowered their price objective on shares of Coty from $5.00 to $4.00 and set a “hold” rating on the stock in a research report on Friday, August 22nd. Barclays dropped their price objective on shares of Coty from $4.50 to $3.50 and set an “underweight” rating for the company in a report on Friday, August 22nd. Finally, JPMorgan Chase & Co. reduced their target price on Coty from $6.00 to $5.00 and set a “neutral” rating on the stock in a research note on Thursday, May 8th. Four research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Coty has an average rating of “Hold” and a consensus target price of $6.19.

Coty Stock Up 14.0%

COTY opened at $4.21 on Monday. The firm has a market capitalization of $3.67 billion, a P/E ratio of -9.56, a price-to-earnings-growth ratio of 0.56 and a beta of 2.00. Coty has a one year low of $3.67 and a one year high of $9.70. The company has a fifty day moving average price of $4.80 and a 200-day moving average price of $5.09. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.77 and a quick ratio of 0.46.

Coty (NYSE:COTY) last issued its quarterly earnings data on Wednesday, August 20th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.06). Coty had a positive return on equity of 5.18% and a negative net margin of 6.24%.The business had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter last year, the business posted ($0.03) EPS. The company’s quarterly revenue was down 8.1% on a year-over-year basis. Equities research analysts expect that Coty will post 0.39 earnings per share for the current fiscal year.

Insider Transactions at Coty

In related news, CEO Sue Nabi bought 260,000 shares of the stock in a transaction dated Friday, August 22nd. The stock was bought at an average price of $3.92 per share, with a total value of $1,019,200.00. Following the purchase, the chief executive officer owned 32,127,286 shares in the company, valued at approximately $125,938,961.12. The trade was a 0.82% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Priya Srinivasan purchased 30,000 shares of the firm’s stock in a transaction on Friday, August 22nd. The stock was bought at an average cost of $3.84 per share, for a total transaction of $115,200.00. Following the completion of the purchase, the insider directly owned 37,509 shares in the company, valued at approximately $144,034.56. This trade represents a 399.52% increase in their ownership of the stock. The disclosure for this purchase can be found here. 6.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Coty

Hedge funds have recently modified their holdings of the company. Corient Private Wealth LLC raised its stake in shares of Coty by 16.6% during the second quarter. Corient Private Wealth LLC now owns 16,062 shares of the company’s stock valued at $75,000 after acquiring an additional 2,286 shares during the last quarter. Impact Capital Partners LLC increased its holdings in Coty by 21.1% during the 2nd quarter. Impact Capital Partners LLC now owns 13,486 shares of the company’s stock valued at $63,000 after purchasing an additional 2,346 shares during the period. Teacher Retirement System of Texas raised its position in Coty by 4.1% during the 2nd quarter. Teacher Retirement System of Texas now owns 59,580 shares of the company’s stock valued at $277,000 after purchasing an additional 2,360 shares during the last quarter. J.W. Cole Advisors Inc. raised its position in Coty by 23.9% during the 2nd quarter. J.W. Cole Advisors Inc. now owns 12,436 shares of the company’s stock valued at $58,000 after purchasing an additional 2,398 shares during the last quarter. Finally, Comerica Bank lifted its holdings in Coty by 1.6% in the 1st quarter. Comerica Bank now owns 162,693 shares of the company’s stock worth $890,000 after buying an additional 2,639 shares during the period. Hedge funds and other 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.