Coty (NYSE:COTY) Earns Buy Rating from Analysts at Canaccord Genuity Group

Canaccord Genuity Group initiated coverage on shares of Coty (NYSE:COTY) in a research note released on Monday, Briefing.com reports. The brokerage issued a buy rating and a $14.00 price target on the stock.

A number of other research firms have also issued reports on COTY. DA Davidson reaffirmed a buy rating and set a $17.50 target price on shares of Coty in a report on Monday, April 8th. TheStreet raised shares of Coty from a c+ rating to a b- rating in a report on Thursday, February 8th. Wells Fargo & Company upped their target price on shares of Coty from $11.00 to $12.00 and gave the stock an equal weight rating in a report on Friday, February 9th. Barclays dropped their target price on shares of Coty from $13.00 to $12.00 and set an equal weight rating for the company in a report on Friday, April 12th. Finally, Royal Bank of Canada reaffirmed an outperform rating and set a $14.00 target price on shares of Coty in a report on Friday, February 9th. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Hold and an average target price of $13.19.

Coty Price Performance

Shares of NYSE COTY opened at $10.63 on Monday. The firm has a market cap of $9.52 billion, a PE ratio of 30.37, a PEG ratio of 5.80 and a beta of 1.82. The firm has a fifty day moving average of $11.99 and a 200 day moving average of $11.48. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.58 and a current ratio of 0.85. Coty has a one year low of $9.02 and a one year high of $13.46.

Coty (NYSE:COTY) last issued its quarterly earnings results on Wednesday, February 7th. The company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.20 by $0.05. Coty had a net margin of 5.39% and a return on equity of 11.91%. The company had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.68 billion. During the same quarter in the previous year, the firm earned $0.22 EPS. The firm’s revenue was up 13.4% compared to the same quarter last year. As a group, research analysts predict that Coty will post 0.45 EPS for the current fiscal year.

Insider Buying and Selling at Coty

In other Coty news, Director Robert S. Singer sold 30,000 shares of the company’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $12.70, for a total value of $381,000.00. Following the transaction, the director now owns 120,000 shares of the company’s stock, valued at $1,524,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Robert S. Singer sold 30,000 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $12.70, for a total transaction of $381,000.00. Following the sale, the director now owns 120,000 shares of the company’s stock, valued at $1,524,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert S. Singer sold 90,000 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $12.56, for a total transaction of $1,130,400.00. Following the sale, the director now directly owns 169,982 shares in the company, valued at approximately $2,134,973.92. The disclosure for this sale can be found here. 5.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Coty

A number of large investors have recently made changes to their positions in COTY. Clearbridge Investments LLC increased its stake in shares of Coty by 123.3% during the first quarter. Clearbridge Investments LLC now owns 16,862,950 shares of the company’s stock worth $151,598,000 after buying an additional 9,311,527 shares during the period. BlackRock Inc. increased its stake in Coty by 20.0% in the first quarter. BlackRock Inc. now owns 46,632,257 shares of the company’s stock valued at $419,223,000 after purchasing an additional 7,760,564 shares during the last quarter. Norges Bank purchased a new position in Coty in the fourth quarter valued at approximately $67,193,000. Goldman Sachs Group Inc. increased its stake in Coty by 119.5% in the first quarter. Goldman Sachs Group Inc. now owns 8,312,124 shares of the company’s stock valued at $74,726,000 after purchasing an additional 4,525,332 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in Coty by 12.1% in the third quarter. Vanguard Group Inc. now owns 39,281,692 shares of the company’s stock valued at $430,920,000 after purchasing an additional 4,245,039 shares during the last quarter. 42.36% of the stock is currently 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.