Coty (NYSE:COTY) Earns “Hold” Rating from Berenberg Bank

Coty (NYSE:COTY)‘s stock had its “hold” rating reiterated by Berenberg Bank in a report issued on Wednesday, Marketbeat.com reports. They presently have a $5.05 target price on the stock, down from their previous target price of $6.50. Berenberg Bank’s price objective suggests a potential upside of 22.28% from the company’s current price.

COTY has been the topic of a number of other reports. Canaccord Genuity Group reduced their price objective on shares of Coty from $5.00 to $4.00 and set a “hold” rating on the stock in a research report on Friday, August 22nd. Morgan Stanley cut their target price on shares of Coty from $5.00 to $4.25 and set an “equal weight” rating on the stock in a research note on Monday, August 25th. Bank of America reduced their price target on shares of Coty from $4.00 to $3.50 and set an “underperform” rating on the stock in a research report on Friday, August 22nd. The Goldman Sachs Group lowered their price objective on shares of Coty from $6.00 to $4.50 and set a “neutral” rating for the company in a report on Friday, August 22nd. Finally, Jefferies Financial Group cut Coty from a “buy” rating to a “hold” rating and cut their price objective for the company from $6.00 to $4.00 in a research report on Thursday, August 21st. Three equities research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $6.06.

Coty Stock Performance

Shares of NYSE:COTY opened at $4.13 on Wednesday. The company has a current ratio of 0.77, a quick ratio of 0.46 and a debt-to-equity ratio of 1.06. The company has a 50-day moving average price of $4.69 and a 200-day moving average price of $4.97. The company has a market cap of $3.60 billion, a price-to-earnings ratio of -9.39, a price-to-earnings-growth ratio of 0.37 and a beta of 2.07. Coty has a 12 month low of $3.67 and a 12 month high of $9.70.

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

Insider Buying and Selling at Coty

In other Coty news, CFO Laurent Mercier bought 12,500 shares of the firm’s stock in a transaction on Monday, August 25th. The stock was acquired at an average price of $3.96 per share, with a total value of $49,500.00. Following the completion of the purchase, the chief financial officer owned 402,216 shares of the company’s stock, valued at approximately $1,592,775.36. This trade represents a 3.21% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Priya Srinivasan bought 30,000 shares of the stock in a transaction dated Friday, August 22nd. The shares were acquired at an average price of $3.84 per share, with a total value of $115,200.00. Following the completion of the acquisition, the insider directly owned 37,509 shares of the company’s stock, valued at approximately $144,034.56. The trade was a 399.52% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 334,900 shares of company stock worth $1,321,840 in the last ninety days. 6.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Coty

Hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC increased its holdings in shares of Coty by 140.2% during the first quarter. GAMMA Investing LLC now owns 5,506 shares of the company’s stock valued at $30,000 after acquiring an additional 3,214 shares in the last quarter. UMB Bank n.a. grew its position in Coty by 137.1% during the 2nd quarter. UMB Bank n.a. now owns 6,851 shares of the company’s stock valued at $32,000 after purchasing an additional 3,962 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its position in Coty by 1,006.7% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 7,304 shares of the company’s stock valued at $40,000 after purchasing an additional 6,644 shares during the last quarter. Shay Capital LLC bought a new stake in Coty during the 2nd quarter valued at about $46,000. Finally, FORA Capital LLC purchased a new position in Coty in the second quarter worth about $47,000. 42.36% of the stock is owned by institutional investors.

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.