Morgan Stanley Issues Pessimistic Forecast for Coty (NYSE:COTY) Stock Price

Coty (NYSE:COTY) had its price objective trimmed by Morgan Stanley from $5.00 to $4.25 in a report published on Monday morning,Benzinga reports. The firm currently has an equal weight rating on the stock.

Several other equities research analysts have also recently issued reports on the stock. Evercore ISI decreased their price target on shares of Coty from $10.00 to $7.00 and set an “outperform” rating on the stock in a research note on Thursday, August 21st. JPMorgan Chase & Co. dropped their target price on shares of Coty from $6.00 to $5.00 and set a “neutral” rating for the company in a research report on Thursday, May 8th. Jefferies Financial Group lowered Coty from a “buy” rating to a “hold” rating and lowered their target price for the company from $6.00 to $4.00 in a research note on Thursday, August 21st. Wells Fargo & Company cut their price objective on shares of Coty from $5.00 to $4.00 and set an “equal weight” rating on the stock in a report on Friday. Finally, Bank of America dropped their price target on shares of Coty from $4.00 to $3.50 and set an “underperform” rating for the company in a research note on Friday. Four investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $6.19.

Coty Stock Down 3.1%

COTY opened at $3.81 on Monday. Coty has a one year low of $3.75 and a one year high of $9.97. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.46 and a current ratio of 0.77. The business’s fifty day moving average is $4.84 and its two-hundred day moving average is $5.11. The company has a market cap of $3.32 billion, a price-to-earnings ratio of -8.66, a PEG ratio of 0.35 and a beta of 2.00.

Coty (NYSE:COTY) last posted its earnings results on Wednesday, August 20th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.06). Coty had a negative net margin of 6.24% and a positive return on equity of 5.18%. The business had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter last year, the business posted ($0.03) earnings per share. The business’s revenue was down 8.1% compared to the same quarter last year. Analysts anticipate that Coty will post 0.39 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in COTY. Marex Group plc acquired a new stake in Coty during the 2nd quarter valued at $232,000. Nomura Holdings Inc. acquired a new stake in Coty in the 2nd quarter worth approximately $1,503,000. FORA Capital LLC bought a new stake in Coty during the second quarter valued at about $47,000. Headlands Technologies LLC bought a new stake in Coty during the 2nd quarter valued at approximately $53,000. Finally, CANADA LIFE ASSURANCE Co grew its stake in shares of Coty by 11.0% in the second quarter. CANADA LIFE ASSURANCE Co now owns 250,174 shares of the company’s stock worth $1,162,000 after acquiring an additional 24,817 shares during the last quarter. 42.36% of the stock is owned by hedge funds and other institutional investors.

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.