Zacks Investment Research downgraded shares of Coty (NYSE:COTY) from a hold rating to a sell rating in a report issued on Monday.
According to Zacks, “Coty, which has underperformed the industry over the past three months, has been facing consistent challenges in its consumer beauty segment. Organic sales at this segment has been hurt by persistent softness in the global mass beauty market. Also, the segment has been consistently witnessing underlying challenges in North America. Unfortunately, management is less hopeful regarding the segment's recovery in the near term. Additionally, the company’s performance is also exposed to the challenges of changing consumer preferences and currency volatility. Nevertheless, Coty has been gaining from its focus on strategic buyouts. Incidentally, the buyouts of ghd, Younique and Burberry have been fueling Coty’s top-line for a while. Further, the company’s advancements in the e-commerce realm is also applaudable.”
A number of other research firms also recently commented on COTY. Citigroup raised their target price on shares of Coty from $21.00 to $23.00 and gave the company a buy rating in a research report on Friday, February 9th. BMO Capital Markets raised their target price on shares of Coty from $22.00 to $24.00 and gave the company a buy rating in a research report on Friday, February 9th. JPMorgan Chase raised their target price on shares of Coty from $15.00 to $17.00 and gave the company an underweight rating in a research report on Monday, February 12th. Barclays set a $20.00 target price on shares of Coty and gave the company a hold rating in a research report on Saturday, February 10th. Finally, Royal Bank of Canada raised shares of Coty from a sector perform rating to an outperform rating in a research report on Thursday, December 21st. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus target price of $19.71.
COTY stock opened at $17.72 on Monday. The stock has a market capitalization of $13,242.60, a P/E ratio of 28.13, a P/E/G ratio of 1.90 and a beta of 0.37. Coty has a 12 month low of $14.24 and a 12 month high of $21.68. The company has a current ratio of 0.93, a quick ratio of 0.66 and a debt-to-equity ratio of 0.76.
Coty (NYSE:COTY) last posted its quarterly earnings results on Thursday, February 8th. The company reported $0.32 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.08. The company had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.48 billion. Coty had a negative net margin of 4.15% and a positive return on equity of 4.45%. The firm’s revenue was up 14.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.30 EPS. equities research analysts expect that Coty will post 0.72 EPS for the current fiscal year.
In other news, major shareholder Cosmetics B.V. Jab acquired 1,550,000 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were purchased at an average price of $20.27 per share, with a total value of $31,418,500.00. Following the transaction, the insider now directly owns 287,558,041 shares in the company, valued at $5,828,801,491.07. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.00% of the stock is owned by insiders.
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Coty Company Profile
Coty Inc, together with its subsidiaries, manufactures, markets, sells, and distributes beauty products worldwide. It operates in three segments: Consumer Beauty, Luxury, and Professional Beauty. The Consumer Beauty segment offers color cosmetics, retail hair coloring and styling products, body care products, and mass fragrances primarily through hypermarkets, supermarkets, drug stores and pharmacies, mid-tier department stores, and traditional food and drug retailers, as well as own branded e-commerce and direct to consumer Websites.
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