Coty (COTY) Cut to Hold at Morgan Stanley

Morgan Stanley lowered shares of Coty (NYSE:COTY) from an overweight rating to a hold rating in a research report report published on Wednesday, Marketbeat reports.

Several other analysts also recently weighed in on the company. Wells Fargo & Co set a $11.00 target price on Coty and gave the company a hold rating in a research note on Thursday, September 13th. JPMorgan Chase & Co. set a $11.00 price objective on Coty and gave the stock a sell rating in a research report on Friday, September 7th. Citigroup reduced their price objective on Coty from $18.00 to $15.00 and set a buy rating for the company in a research report on Thursday, August 23rd. Barclays set a $15.00 price objective on Coty and gave the stock a hold rating in a research report on Wednesday, August 22nd. Finally, BMO Capital Markets reiterated a market perform rating and issued a $24.00 price objective on shares of Coty in a research report on Wednesday, August 22nd. Three analysts have rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the stock. The company has a consensus rating of Hold and an average price target of $14.32.

NYSE:COTY traded down $0.29 during mid-day trading on Wednesday, hitting $8.37. 516,040 shares of the company’s stock traded hands, compared to its average volume of 7,153,487. Coty has a 12 month low of $8.36 and a 12 month high of $21.68. The company has a market cap of $8.39 billion, a price-to-earnings ratio of 12.12, a PEG ratio of 1.45 and a beta of 0.47. The company has a quick ratio of 0.62, a current ratio of 0.90 and a debt-to-equity ratio of 0.82.

Coty (NYSE:COTY) last announced its earnings results on Wednesday, November 7th. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.04. Coty had a positive return on equity of 5.55% and a negative net margin of 1.80%. The firm had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.17 billion. During the same quarter in the prior year, the company earned $0.10 EPS. The firm’s revenue for the quarter was down 9.2% compared to the same quarter last year. Analysts anticipate that Coty will post 0.75 EPS for the current year.

In related news, major shareholder Cosmetics B.V. Jab bought 1,030,000 shares of the business’s stock in a transaction that occurred on Friday, August 24th. The stock was acquired at an average price of $11.98 per share, for a total transaction of $12,339,400.00. Following the transaction, the insider now directly owns 291,138,041 shares of the company’s stock, valued at $3,487,833,731.18. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert S. Singer bought 5,000 shares of the business’s stock in a transaction that occurred on Monday, August 27th. The shares were bought at an average price of $12.00 per share, with a total value of $60,000.00. Following the transaction, the director now directly owns 175,000 shares in the company, valued at $2,100,000. The disclosure for this purchase can be found here. Insiders acquired a total of 3,655,000 shares of company stock valued at $44,583,400 in the last quarter. Corporate insiders own 1.20% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. Rothschild Investment Corp IL bought a new position in shares of Coty during the 2nd quarter worth approximately $159,000. Suntrust Banks Inc. bought a new position in shares of Coty during the 1st quarter worth approximately $286,000. Intact Investment Management Inc. bought a new position in shares of Coty during the 2nd quarter worth approximately $230,000. Contravisory Investment Management Inc. acquired a new stake in Coty during the 2nd quarter valued at $237,000. Finally, Cornerstone Wealth Management LLC acquired a new stake in Coty during the 2nd quarter valued at $1,220,000. Institutional investors and hedge funds own 64.12% of the company’s stock.

About Coty

Coty Inc, together with its subsidiaries, manufactures, markets, distributes, and sells beauty products worldwide. It operates in three segments: Luxury, Consumer Beauty, and Professional Beauty. The Luxury segment offers prestige fragrances, and skincare and cosmetics products through various retailers, including perfumeries, department stores, and duty-free shops under the Alexander McQueen, Balenciaga, Burberry, Bottega Veneta, Calvin Klein, Cavalli, Chloe, Davidoff, Escada, Gucci, Hugo Boss, Jil Sander, Joop!, Lacoste, Lancaster, Marc Jacobs, Miu Miu, philosophy, Stella McCartney, and Tiffany & Co brands.

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Analyst Recommendations for Coty (NYSE:COTY)

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