According to Bloomberg, the ten investment research firms covering Coty Inc. (NYSE: COTY) have provided the company with a rating of “Moderate Buy” as the consensus recommendation for the investment in question. Five research analysts advocate purchasing the stock, and four research experts advocate maintaining the current holdings of the stock. The previous year, brokerage firms assigned ratings to the stock, and those ratings resulted in the firms setting an average price target of $9.97 for the stock for the following year.
Recent analyst reports have, on multiple occasions, covered ground previously covered by COTY. JPMorgan Chase & Co. increased their target price on Coty stock from $8.00 to $9.00 in a research report released on Friday, January 13. Additionally, the company provided a rating for the company that was described as “neutral.” Deutsche Bank Aktiengesellschaft upgraded its rating for Coty from “buy” to “strong buy” and increased its price target to $10.00 in a research note published on Tuesday, December 6. Morgan Stanley rated the stock as “equal weight” in a research report published on Tuesday, October 11.
Additionally, the firm decreased its target price on Coty shares from $9.00 to $8.25 during the same period. The price had been set at $9.00 as the previous objective. Barclays disclosed their decision to raise their price objective on Coty to $8.00 in a research note released on November 15. DA Davidson previously assigned Coty a “hold” rating, but that was changed to a “buy” recommendation in a research note published on Thursday, November 10. This was the final adjustment made to the company’s stock rating.
On Thursday, the cost of purchasing a share of COTY stock was $9.42 when trading began. The debt-to-equity ratio presently stands at 1.33, the quick ratio stands at 0.44, and the current ratio stands at 0.70. The moving averages for the last 50 and 200 days of the company’s stock price are currently at $8.25 and $7.62, respectively. The company presently holds a P/E ratio of 94.20, a PEG ratio of 2.09, and a beta coefficient of 1.83, all of which contribute to its current market capitalization of $7.90 billion. A bottle of Coty can range anywhere from $5.90 to $10.02 at different points throughout the course of a year.
The most recent quarterly earnings report for Coty was released on November 8 and was made public through the ticker symbol COTY on the New York Stock Exchange (NYSE). The quarterly earnings per share of the company came in at $0.11, which was in line with the predictions made by analysts, who anticipated earnings of $0.11 per share. Coty had a return on equity of 9.47%, and the net margin for the company was 2.92%. The company’s revenue came in at $1.39 billion for the quarter, significantly higher than the average prediction of $1.38 billion made by financial analysts. In the same quarter as the previous year, the company reported a profit of $0.08 per share, an increase from the previous year’s results. When compared to the same quarter in the previous year, the revenue increase came in at 1.4% higher than expected. The current fiscal year of Coty is expected to result in earnings of $0.32 per share, according to projections provided by industry analysts.
According to related news, on Tuesday, November 15, Olivier Goudet, the director of Coty, purchased 100,000 shares of the company’s stock. The total cost of the stock purchase was $761,000.00, which works out to a price of $7.61 per share on an average basis. The director is now the direct owner of 1,039,129 shares of the company, which have a market value of $7,907,771.69 as a result of the acquisition. One can gain access to the official document that was claimed to have been used in the acquisition by going to the website of the Securities and Exchange Commission (SEC). The current percentage of the company’s stock owned by company insiders is 4.40 percent.
Recent events have resulted in several changes being implemented by hedge funds regarding the interests they previously held in the company. Coldstream Capital Management Inc. purchased a new investment in Coty with a value of approximately $109,000 during the last three months of 2018. During the fourth quarter, Yousif Capital Management LLC increased the amount of Coty stock owned by 2.2%. Yousif Capital Management LLC now has a total of 187,850 shares in the company following the purchase of an additional 3,987 shares during the preceding quarter. The current value of these shares is $1,608,000. The Bank of New York Mellon Corporation increased the proportion of Coty stock owned by 0.3 percent during the third quarter. Bank of New York Mellon Corp. now has 3,714,984 shares of the company’s stock, which is currently valued at $23,476,000 following the acquisition of an additional 11,517 shares during the most recent period. This brings the total number of shares the company owns to 3,714,984. The Teachers Retirement System of Kentucky acquired a new holding in Coty shares during the third quarter of the fiscal year. The value of this new holding in Coty shares was approximately $330,000 when it was acquired. And as if that weren’t enough, during the third quarter, Retirement Systems of Alabama increased the amount of Coty stock owned by 4.2%, making it our final point of business. Retirement Systems of Alabama has a total of 472,420 shares following purchasing of an additional 19,169 shares during the preceding quarter. The current value of Retirement Systems of Alabama’s stock holdings is $2,986,000. To the tune of 37.10% of the company’s stock, institutional investors and hedge funds collectively hold the company’s shares.
On a global scale, the production, marketing, distribution, and retail sale of beauty products are the purview of Coty Inc. and its subsidiary companies. The company operates in two distinct markets, namely the prestige market and the consumer beauty market. The company’s primary focus is distributing fragrances, color cosmetics, and skin and body care products. Under the brand names Burberry, Bottega Veneta, Calvin Klein, Cavalli, Chloe, Davidoff, Escada, Gucci, Hugo Boss, Jil Sander, Joop!, Kylie Jenner, Lacoste, Lancaster, Marc Jacobs, Miu Miu, Orveda, Philosophy, SKKN by Kim, and Tiffany, it primarily focuses on selling prestige goods to prestige retailers like perfumeries, department stores, and e-commerce platforms.