Coty Inc (COTY) Short Interest Up 66.3% in March

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Coty Inc (NYSE:COTY) saw a significant increase in short interest in March. As of March 29th, there was short interest totalling 106,374,277 shares, an increase of 66.3% from the March 15th total of 63,954,295 shares. Based on an average daily volume of 29,279,771 shares, the days-to-cover ratio is currently 3.6 days. Currently, 24.2% of the company’s stock are short sold.

NYSE:COTY opened at $11.19 on Tuesday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.66 and a current ratio of 0.96. Coty has a one year low of $5.91 and a one year high of $18.00. The stock has a market capitalization of $8.41 billion, a P/E ratio of 16.22, a price-to-earnings-growth ratio of 2.43 and a beta of 0.93.

Coty (NYSE:COTY) last announced its quarterly earnings data on Friday, February 8th. The company reported $0.24 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.02. The firm had revenue of $2.51 billion during the quarter, compared to analyst estimates of $2.47 billion. Coty had a positive return on equity of 5.38% and a negative net margin of 13.58%. Coty’s quarterly revenue was down 4.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.32 earnings per share. As a group, equities research analysts predict that Coty will post 0.64 earnings per share for the current year.

Institutional investors have recently made changes to their positions in the stock. Advisory Services Network LLC bought a new stake in Coty in the fourth quarter valued at about $25,000. Moody National Bank Trust Division bought a new stake in Coty in the first quarter valued at about $44,000. Truvestments Capital LLC bought a new stake in Coty in the first quarter valued at about $56,000. Pearl River Capital LLC bought a new stake in Coty in the fourth quarter valued at about $56,000. Finally, CSat Investment Advisory L.P. increased its holdings in Coty by 246.2% in the fourth quarter. CSat Investment Advisory L.P. now owns 10,366 shares of the company’s stock valued at $68,000 after buying an additional 7,372 shares during the last quarter. 65.84% of the stock is owned by hedge funds and other institutional investors.

Several research firms recently commented on COTY. Citigroup cut Coty from a “buy” rating to a “neutral” rating and cut their price target for the stock from $13.00 to $12.00 in a research note on Tuesday, April 2nd. ValuEngine upgraded Coty from a “strong sell” rating to a “sell” rating in a research note on Monday, April 1st. Jefferies Financial Group set a $11.00 price target on Coty and gave the stock a “hold” rating in a research note on Wednesday, March 27th. Zacks Investment Research upgraded Coty from a “sell” rating to a “hold” rating in a research note on Wednesday, March 6th. Finally, JPMorgan Chase & Co. reiterated a “hold” rating on shares of Coty in a research note on Thursday, February 14th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the stock. Coty has a consensus rating of “Hold” and an average price target of $12.86.

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Coty Company Profile

Coty Inc, together with its subsidiaries, manufactures, markets, distributes, and sells beauty products worldwide. It operates in three segments: Luxury, Consumer Beauty, and Professional Beauty. The Luxury segment offers prestige fragrances, and skincare and cosmetics products through various retailers, including perfumeries, department stores, and duty-free shops under the Alexander McQueen, Balenciaga, Burberry, Bottega Veneta, Calvin Klein, Cavalli, Chloe, Davidoff, Escada, Gucci, Hugo Boss, Jil Sander, Joop!, Lacoste, Lancaster, Marc Jacobs, Miu Miu, philosophy, Stella McCartney, and Tiffany & Co brands.

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