Coty’s (COTY) “Buy” Rating Reaffirmed at DA Davidson

Coty (NYSE:COTY)‘s stock had its “buy” rating restated by stock analysts at DA Davidson in a research report issued on Monday, Benzinga reports. They presently have a $17.50 target price on the stock. DA Davidson’s price objective would suggest a potential upside of 49.70% from the company’s current price.

Several other analysts have also issued reports on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $14.00 price objective on shares of Coty in a report on Friday, February 9th. TD Cowen reduced their price target on Coty from $16.00 to $13.00 and set a “buy” rating on the stock in a research report on Wednesday, April 17th. Citigroup dropped their target price on Coty from $13.00 to $12.00 and set a “neutral” rating on the stock in a report on Tuesday, April 16th. Canaccord Genuity Group initiated coverage on shares of Coty in a report on Monday, April 15th. They issued a “buy” rating and a $14.00 target price for the company. Finally, Canaccord Genuity Group started coverage on shares of Coty in a research report on Monday, April 15th. They set a “buy” rating and a $14.00 target price on the stock. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Coty currently has a consensus rating of “Hold” and an average target price of $13.19.

Coty Price Performance

NYSE:COTY opened at $11.69 on Monday. The stock has a market capitalization of $10.46 billion, a PE ratio of 33.40, a price-to-earnings-growth ratio of 6.17 and a beta of 1.82. The stock’s 50-day moving average price is $11.92 and its 200-day moving average price is $11.51. The company has a quick ratio of 0.58, a current ratio of 0.85 and a debt-to-equity ratio of 0.80. Coty has a 52 week low of $9.02 and a 52 week high of $13.46.

Coty (NYSE:COTY) last issued its quarterly earnings results on Wednesday, February 7th. The company reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.05. Coty had a net margin of 5.39% and a return on equity of 11.91%. The firm had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.68 billion. During the same period last year, the company posted $0.22 EPS. Coty’s quarterly revenue was up 13.4% compared to the same quarter last year. As a group, equities analysts expect that Coty will post 0.45 EPS for the current fiscal year.

Insiders Place Their Bets

In other Coty news, Director Robert S. Singer sold 30,000 shares of Coty stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $12.70, for a total value of $381,000.00. Following the completion of the sale, the director now owns 120,000 shares in the company, valued at approximately $1,524,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Coty news, Director Robert S. Singer sold 30,000 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $12.70, for a total transaction of $381,000.00. Following the completion of the sale, the director now owns 120,000 shares of the company’s stock, valued at $1,524,000. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robert S. Singer sold 90,000 shares of Coty stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $12.56, for a total value of $1,130,400.00. Following the completion of the transaction, the director now directly owns 169,982 shares in the company, valued at $2,134,973.92. The disclosure for this sale can be found here. 5.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Coty

Hedge funds and other institutional investors have recently made changes to their positions in the business. Louisiana State Employees Retirement System raised its holdings in shares of Coty by 2.9% during the 1st quarter. Louisiana State Employees Retirement System now owns 108,200 shares of the company’s stock valued at $1,294,000 after buying an additional 3,000 shares during the period. Shikiar Asset Management Inc. grew its position in Coty by 3.3% in the first quarter. Shikiar Asset Management Inc. now owns 266,400 shares of the company’s stock valued at $3,186,000 after acquiring an additional 8,400 shares in the last quarter. Norden Group LLC purchased a new stake in shares of Coty during the first quarter valued at approximately $146,000. State of Michigan Retirement System lifted its position in shares of Coty by 2.7% during the first quarter. State of Michigan Retirement System now owns 92,298 shares of the company’s stock worth $1,104,000 after purchasing an additional 2,400 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. lifted its holdings in Coty by 78.4% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 3,174,872 shares of the company’s stock worth $37,972,000 after buying an additional 1,395,230 shares in 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.