Citigroup Has Lowered Expectations for Coty (NYSE:COTY) Stock Price

Coty (NYSE:COTY) had its target price lowered by equities researchers at Citigroup from $8.00 to $6.50 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s target price points to a potential upside of 39.19% from the stock’s current price.

A number of other research firms have also recently commented on COTY. JPMorgan Chase & Co. cut their target price on shares of Coty from $6.00 to $5.00 and set a “neutral” rating for the company in a research note on Thursday. The Goldman Sachs Group cut their price objective on Coty from $8.00 to $6.00 and set a “neutral” rating for the company in a research note on Thursday. Morgan Stanley decreased their target price on Coty from $9.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 12th. BNP Paribas cut Coty from an “outperform” rating to a “neutral” rating and set a $5.65 price target for the company. in a research report on Friday, April 11th. Finally, Evercore ISI decreased their price objective on Coty from $15.00 to $10.00 and set an “outperform” rating on the stock in a report on Wednesday, February 12th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $7.80.

Coty Price Performance

Shares of Coty stock opened at $4.67 on Thursday. The firm has a market cap of $4.07 billion, a PE ratio of -467.00, a P/E/G ratio of 0.81 and a beta of 1.90. Coty has a twelve month low of $4.46 and a twelve month high of $11.41. The company has a quick ratio of 0.45, a current ratio of 0.71 and a debt-to-equity ratio of 0.85. The business has a 50-day moving average price of $5.22 and a 200 day moving average price of $6.38.

Coty (NYSE:COTY) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.04). Coty had a net margin of 0.22% and a return on equity of 6.34%. The business had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter last year, the firm earned $0.05 earnings per share. The firm’s quarterly revenue was down 6.2% compared to the same quarter last year. Sell-side analysts predict that Coty will post 0.39 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in COTY. Vanguard Group Inc. raised its position in Coty by 5.8% in the first quarter. Vanguard Group Inc. now owns 37,645,488 shares of the company’s stock valued at $205,921,000 after purchasing an additional 2,055,771 shares during the period. Ameriprise Financial Inc. raised its holdings in Coty by 12.1% in the 4th quarter. Ameriprise Financial Inc. now owns 20,214,382 shares of the company’s stock valued at $140,691,000 after buying an additional 2,175,120 shares during the period. Dimensional Fund Advisors LP lifted its position in Coty by 13.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 13,318,685 shares of the company’s stock valued at $92,697,000 after buying an additional 1,569,315 shares during the last quarter. Clearbridge Investments LLC boosted its stake in Coty by 0.4% during the fourth quarter. Clearbridge Investments LLC now owns 9,824,638 shares of the company’s stock worth $68,379,000 after buying an additional 37,412 shares during the period. Finally, Thrivent Financial for Lutherans increased its position in shares of Coty by 25.5% during the fourth quarter. Thrivent Financial for Lutherans now owns 8,096,912 shares of the company’s stock valued at $56,354,000 after acquiring an additional 1,646,839 shares during the last quarter. 42.36% of the stock is currently owned by institutional investors and hedge funds.

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.