Morgan Stanley Reaffirms Equal Weight Rating for Coty (COTY)

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Coty (NYSE:COTY)‘s stock had its “equal weight” rating restated by equities researchers at Morgan Stanley in a research note issued on Thursday. They currently have a $10.00 price objective on the stock, down from their previous price objective of $14.50. Morgan Stanley’s price target suggests a potential upside of 17.79% from the company’s current price.

A number of other equities analysts also recently issued reports on the company. Societe Generale downgraded Coty from a “buy” rating to a “hold” rating in a research note on Wednesday, August 22nd. Bank of America downgraded Coty from a “buy” rating to an “underperform” rating and cut their price target for the company from $16.00 to $10.00 in a research note on Thursday, August 16th. Wells Fargo & Co set a $11.00 price target 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 target on Coty and gave the company a “sell” rating in a research note on Friday, September 7th. Finally, Zacks Investment Research upgraded Coty from a “sell” rating to a “hold” rating in a research note on Monday, July 23rd. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $13.95.

COTY stock opened at $8.49 on Thursday. The stock has a market cap of $6.50 billion, a price-to-earnings ratio of 12.30, a P/E/G ratio of 1.12 and a beta of 0.47. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.99 and a quick ratio of 0.62. Coty has a 52-week low of $8.29 and a 52-week high of $21.68.

Coty (NYSE:COTY) last released its quarterly earnings results on Wednesday, November 7th. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.04. The business had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.17 billion. Coty had a positive return on equity of 5.72% and a negative net margin of 1.75%. The company’s quarterly revenue was down 9.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.10 EPS. On average, analysts forecast that Coty will post 0.7 EPS for the current year.

In other Coty news, Director Robert S. Singer bought 20,000 shares of the business’s stock in a transaction dated Thursday, August 23rd. The shares were purchased at an average price of $11.50 per share, for a total transaction of $230,000.00. Following the purchase, the director now directly owns 175,000 shares of the company’s stock, valued at $2,012,500. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Cosmetics B.V. Jab bought 2,600,000 shares of the business’s stock in a transaction dated Tuesday, August 28th. The stock was acquired at an average price of $12.29 per share, for a total transaction of $31,954,000.00. Following the purchase, the insider now directly owns 291,138,041 shares in the company, valued at $3,578,086,523.89. The disclosure for this purchase can be found here. Insiders bought a total of 3,655,000 shares of company stock worth $44,583,400 in the last 90 days. Company insiders own 1.20% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its stake in shares of Coty by 3.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,726,595 shares of the company’s stock worth $52,541,000 after buying an additional 135,658 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Coty by 12.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 228,165 shares of the company’s stock worth $3,217,000 after purchasing an additional 24,433 shares during the period. Royal London Asset Management Ltd. bought a new stake in shares of Coty in the 2nd quarter worth approximately $2,657,000. Cornerstone Wealth Management LLC bought a new stake in shares of Coty in the 2nd quarter worth approximately $1,220,000. Finally, Caisse DE Depot ET Placement DU Quebec raised its holdings in shares of Coty by 32.1% in the 2nd quarter. Caisse DE Depot ET Placement DU Quebec now owns 165,970 shares of the company’s stock worth $2,340,000 after purchasing an additional 40,370 shares during the period. Hedge funds and other institutional investors own 64.12% of the company’s stock.

Coty Company Profile

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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