Coty (NYSE:COTY) Shares Gap Down – What’s Next?

Coty Inc. (NYSE:COTY) shares gapped down before the market opened on Tuesday . The stock had previously closed at $5.19, but opened at $5.00. Coty shares last traded at $4.89, with a volume of 1,069,495 shares changing hands.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on COTY shares. Citigroup raised shares of Coty from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $7.00 to $8.00 in a research report on Thursday, March 20th. Evercore ISI lowered their price target on Coty from $15.00 to $10.00 and set an “outperform” rating for the company in a report on Wednesday, February 12th. Wells Fargo & Company restated a “positive” rating on shares of Coty in a report on Wednesday. Barclays lowered their target price on Coty from $5.00 to $4.50 and set an “underweight” rating for the company in a report on Friday, April 11th. Finally, Piper Sandler dropped their price target on Coty from $9.00 to $8.00 and set an “overweight” rating on the stock in a research report on Monday, February 24th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $8.24.

Coty Price Performance

The stock’s 50 day simple moving average is $5.52 and its 200-day simple moving average is $6.82. The firm has a market cap of $4.07 billion, a price-to-earnings ratio of -467.00, a price-to-earnings-growth ratio of 0.81 and a beta of 1.75. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.45 and a current ratio of 0.71.

Coty (NYSE:COTY) last released its earnings results on Monday, February 10th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.11). Coty had a net margin of 0.22% and a return on equity of 6.34%. Equities research analysts anticipate that Coty Inc. will post 0.39 EPS for the current fiscal year.

Institutional Investors Weigh In On Coty

Large investors have recently bought and sold shares of the company. Retirement Systems of Alabama lifted its stake in Coty by 0.3% during the 4th quarter. Retirement Systems of Alabama now owns 444,245 shares of the company’s stock valued at $3,092,000 after acquiring an additional 1,472 shares during the period. Stephens Inc. AR raised its holdings in shares of Coty by 12.0% during the fourth quarter. Stephens Inc. AR now owns 15,588 shares of the company’s stock worth $108,000 after purchasing an additional 1,672 shares during the last quarter. Envestnet Portfolio Solutions Inc. lifted its position in Coty by 16.3% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 13,527 shares of the company’s stock valued at $94,000 after purchasing an additional 1,893 shares during the period. Jones Financial Companies Lllp boosted its holdings in Coty by 26.9% in the fourth quarter. Jones Financial Companies Lllp now owns 9,940 shares of the company’s stock valued at $69,000 after purchasing an additional 2,110 shares during the last quarter. Finally, Quadrant Capital Group LLC grew its position in Coty by 55.3% during the 4th quarter. Quadrant Capital Group LLC now owns 7,307 shares of the company’s stock worth $51,000 after purchasing an additional 2,601 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.