Morgan Stanley Cuts Coty (NYSE:COTY) Price Target to $7.00

Coty (NYSE:COTY) had its price objective decreased by Morgan Stanley from $9.00 to $7.00 in a research report released on Wednesday morning,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

COTY has been the subject of a number of other research reports. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $14.00 price objective on shares of Coty in a research note on Tuesday, October 15th. The Goldman Sachs Group started coverage on Coty in a research report on Friday, December 13th. They issued a “neutral” rating and a $9.00 target price for the company. Jefferies Financial Group dropped their price target on Coty from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft reduced their price objective on Coty from $14.00 to $12.00 and set a “buy” rating for the company in a research note on Wednesday, October 16th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $14.00 target price on shares of Coty in a research note on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $10.17.

Coty Trading Down 2.9 %

Shares of NYSE COTY opened at $5.59 on Wednesday. The company has a quick ratio of 0.55, a current ratio of 0.85 and a debt-to-equity ratio of 0.93. Coty has a 12 month low of $5.55 and a 12 month high of $13.30. The company has a market cap of $4.86 billion, a price-to-earnings ratio of 32.85, a P/E/G ratio of 0.72 and a beta of 1.89. The business has a fifty day simple moving average of $7.01 and a 200-day simple moving average of $8.02.

Coty (NYSE:COTY) last posted its quarterly earnings data 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 return on equity of 9.16% and a net margin of 2.78%. Sell-side analysts predict that Coty will post 0.51 EPS for the current year.

Institutional Trading of Coty

A number of institutional investors and hedge funds have recently made changes to their positions in COTY. Norges Bank acquired a new position in shares of Coty during the 4th quarter valued at about $44,401,000. Amundi boosted its position in Coty by 1,990,624.9% during the fourth quarter. Amundi now owns 4,479,131 shares of the company’s stock worth $30,503,000 after purchasing an additional 4,478,906 shares during the period. Caisse Des Depots ET Consignations acquired a new position in Coty during the fourth quarter valued at approximately $19,663,000. Vaughan Nelson Investment Management L.P. grew its holdings in Coty by 42.6% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 5,642,602 shares of the company’s stock valued at $52,984,000 after purchasing an additional 1,687,045 shares during the last quarter. Finally, Thrivent Financial for Lutherans raised its position in shares of Coty by 25.5% in the fourth quarter. Thrivent Financial for Lutherans now owns 8,096,912 shares of the company’s stock valued at $56,354,000 after purchasing an additional 1,646,839 shares during the period. 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.