Coty (NYSE:COTY) Given New $7.00 Price Target at Wells Fargo & Company

Coty (NYSE:COTY) had its target price reduced by Wells Fargo & Company from $9.00 to $7.00 in a research note issued to investors on Tuesday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

COTY has been the topic of several other reports. The Goldman Sachs Group began coverage on Coty in a research report on Friday, December 13th. They set a “neutral” rating and a $9.00 price target on the stock. Barclays lowered shares of Coty from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $8.00 to $7.00 in a report on Thursday, November 7th. Jefferies Financial Group lowered their target price on shares of Coty from $12.00 to $11.00 and set a “buy” rating on the stock in a research note on Wednesday, October 16th. Canaccord Genuity Group restated a “buy” rating and set a $14.00 price target on shares of Coty in a research report on Tuesday, October 15th. Finally, Stifel Nicolaus lowered their price objective on Coty from $11.00 to $10.00 and set a “hold” rating on the stock in a research report on Tuesday, October 15th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, Coty has a consensus rating of “Moderate Buy” and an average price target of $11.29.

Coty Stock Performance

Shares of COTY stock opened at $6.96 on Tuesday. Coty has a 12 month low of $6.72 and a 12 month high of $13.30. The stock has a market capitalization of $6.05 billion, a P/E ratio of 40.94, a PEG ratio of 0.75 and a beta of 1.89. The company has a current ratio of 0.85, a quick ratio of 0.55 and a debt-to-equity ratio of 0.93. The firm’s 50 day moving average is $7.31 and its 200 day moving average is $8.62.

Coty (NYSE:COTY) last posted its earnings results on Wednesday, November 6th. The company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.04). The company had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.67 billion. Coty had a return on equity of 9.16% and a net margin of 2.78%. The company’s revenue was up 1.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.09 EPS. On average, sell-side analysts anticipate that Coty will post 0.51 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in COTY. JPMorgan Chase & Co. grew its holdings in shares of Coty by 16.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 743,445 shares of the company’s stock valued at $6,981,000 after purchasing an additional 107,014 shares during the last quarter. Tidal Investments LLC boosted its position in Coty by 26.6% during the third quarter. Tidal Investments LLC now owns 201,398 shares of the company’s stock valued at $1,891,000 after buying an additional 42,295 shares during the period. Virtu Financial LLC purchased a new position in shares of Coty in the third quarter worth about $96,000. Neo Ivy Capital Management purchased a new position in shares of Coty in the third quarter worth about $1,684,000. Finally, Barclays PLC lifted its stake in shares of Coty by 147.1% in the 3rd quarter. Barclays PLC now owns 1,165,806 shares of the company’s stock valued at $10,947,000 after acquiring an additional 693,961 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.