Berenberg Bank Reiterates Hold Rating for Coty (NYSE:COTY)

Coty (NYSE:COTY)‘s stock had its “hold” rating reiterated by equities research analysts at Berenberg Bank in a note issued to investors on Wednesday, MarketBeat.com reports. They currently have a $5.05 price target on the stock, down from their previous price target of $6.50. Berenberg Bank’s price objective indicates a potential upside of 18.82% from the company’s current price.

Several other equities analysts also recently weighed in on COTY. Jefferies Financial Group downgraded Coty from a “buy” rating to a “hold” rating and reduced their target price for the stock from $6.00 to $4.00 in a research report on Thursday, August 21st. Canaccord Genuity Group reduced their target price on Coty from $5.00 to $4.00 and set a “hold” rating on the stock in a research report on Friday, August 22nd. Evercore ISI reduced their target price on Coty from $10.00 to $7.00 and set an “outperform” rating on the stock in a research report on Thursday, August 21st. Morgan Stanley reduced their target price on Coty from $5.00 to $4.25 and set an “equal weight” rating on the stock in a research report on Monday, August 25th. Finally, Wells Fargo & Company reduced their target price on Coty from $5.00 to $4.00 and set an “equal weight” rating on the stock in a research report on Friday, August 22nd. Three investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $6.06.

Coty Stock Down 1.6%

COTY opened at $4.25 on Wednesday. The company has a quick ratio of 0.46, a current ratio of 0.77 and a debt-to-equity ratio of 1.06. The firm has a market cap of $3.71 billion, a P/E ratio of -9.66, a PEG ratio of 0.40 and a beta of 2.07. Coty has a 52 week low of $3.67 and a 52 week high of $9.70. The business’s fifty day simple moving average is $4.73 and its 200 day simple moving average is $4.99.

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

Insider Buying and Selling

In related news, CFO Laurent Mercier bought 12,500 shares of the stock in a transaction dated Monday, August 25th. The stock was acquired at an average price of $3.96 per share, for a total transaction of $49,500.00. Following the completion of the purchase, the chief financial officer owned 402,216 shares in the company, valued at $1,592,775.36. This represents a 3.21% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kristin Blazewicz acquired 29,400 shares of the company’s stock in a transaction on Wednesday, September 3rd. The shares were acquired at an average price of $4.30 per share, for a total transaction of $126,420.00. Following the completion of the acquisition, the insider directly owned 829,142 shares in the company, valued at $3,565,310.60. The trade was a 3.68% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 334,900 shares of company stock worth $1,321,840 in the last ninety days. 6.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Coty

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