Coty (NYSE:COTY) Downgraded to “Hold” Rating by TD Cowen

TD Cowen cut shares of Coty (NYSE:COTY) from a buy rating to a hold rating in a research note issued to investors on Wednesday morning, MarketBeat reports. TD Cowen currently has $8.50 target price on the stock, down from their prior target price of $11.00.

Several other equities analysts also recently commented on COTY. Barclays downgraded Coty from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $8.00 to $7.00 in a research report on Thursday, November 7th. Wells Fargo & Company lowered their price objective on Coty from $10.00 to $9.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 15th. DA Davidson lowered their price objective on Coty from $14.50 to $12.50 and set a “buy” rating for the company in a research report on Monday, November 11th. Evercore ISI restated an “outperform” rating and set a $15.00 price objective on shares of Coty in a research report on Wednesday, August 21st. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on Coty from $14.00 to $12.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $11.56.

Coty Price Performance

Coty stock opened at $7.20 on Wednesday. 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 company has a market capitalization of $6.26 billion, a PE ratio of 42.35, a P/E/G ratio of 0.72 and a beta of 1.91. Coty has a 12 month low of $7.02 and a 12 month high of $13.30. The stock has a 50-day moving average price of $8.39 and a two-hundred day moving average price of $9.46.

Coty (NYSE:COTY) last posted its earnings results on Wednesday, November 6th. The company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.04). The firm had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.67 billion. Coty had a net margin of 2.78% and a return on equity of 9.16%. Coty’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.09 earnings per share. Analysts expect that Coty will post 0.52 EPS for the current year.

Institutional Investors Weigh In On Coty

A number of hedge funds have recently added to or reduced their stakes in COTY. Quantbot Technologies LP grew its stake in Coty by 11,593.2% in the first quarter. Quantbot Technologies LP now owns 39,523 shares of the company’s stock valued at $473,000 after acquiring an additional 39,185 shares during the period. Swiss National Bank grew its stake in Coty by 0.3% in the first quarter. Swiss National Bank now owns 792,401 shares of the company’s stock valued at $9,477,000 after acquiring an additional 2,300 shares during the period. Avantax Advisory Services Inc. grew its stake in Coty by 3.1% in the first quarter. Avantax Advisory Services Inc. now owns 65,960 shares of the company’s stock valued at $789,000 after acquiring an additional 2,012 shares during the period. Entropy Technologies LP acquired a new stake in Coty in the first quarter valued at approximately $477,000. Finally, State Board of Administration of Florida Retirement System boosted its position in shares of Coty by 0.8% during the first quarter. State Board of Administration of Florida Retirement System now owns 398,197 shares of the company’s stock valued at $4,802,000 after buying an additional 2,977 shares during the last quarter. Institutional investors and hedge funds own 42.36% of the company’s stock.

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.