Published On: Thu, Sep 22nd, 2016

Coty Inc. (COTY) Upgraded at Zacks Investment Research

Coty Inc. (NYSE:COTY) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report released on Thursday. The brokerage presently has a $27.00 price target on the stock. Zacks Investment Research’s price target would indicate a potential upside of 13.78% from the company’s previous close.
According to Zacks, “Coty Inc. is involved in the manufacturing, marketing and distribution of beauty products. It operates in three segments: Fragrances, Colour Cosmetics and Skin & Body Care. The Company’s brand consists of adidas, Calvin Klein, Chloe, Davidoff, Marc Jacobs, OPI, philosophy, Playboy, Rimmel and Sally Hansen. It sells the products through department stores, specialty retailers, perfumeries and pharmacies, mass-market retailers and duty-free shops in airports and cities and e-commerce channels. Coty Inc. is headquartered in New York. “
A number of other brokerages have also weighed in on COTY. B. Riley restated a “sell” rating and issued a $21.50 price objective on shares of Coty in a report on Monday, August 22nd. Citigroup Inc. raised their target price on Coty from $28.00 to $30.00 and gave the stock a “neutral” rating in a research note on Thursday, August 25th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $32.00 target price on shares of Coty in a research note on Thursday, August 18th. Barclays PLC reaffirmed a “hold” rating on shares of Coty in a research note on Saturday, July 9th. Finally, Bank of America Corp. set a $29.00 target price on Coty and gave the stock a “hold” rating in a research note on Wednesday, August 31st. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $27.50.

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Coty (NYSE:COTY) traded down 0.50% during mid-day trading on Thursday, reaching $23.73. 18,809,073 shares of the company were exchanged. The stock has a market capitalization of $7.98 billion, a price-to-earnings ratio of 53.93 and a beta of 0.37. The stock’s 50-day moving average price is $26.69 and its 200-day moving average price is $27.12. Coty has a 1-year low of $21.48 and a 1-year high of $31.60.
Coty (NYSE:COTY) last announced its quarterly earnings data on Tuesday, August 16th. The company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.07. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.05 billion. Coty had a return on equity of 80.72% and a net margin of 3.61%. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.08 EPS. On average, equities research analysts anticipate that Coty will post $1.12 EPS for the current fiscal year.
In other Coty news, SVP Sebastien Froidefond sold 3,983 shares of Coty stock in a transaction dated Monday, July 11th. The stock was sold at an average price of $27.02, for a total value of $107,620.66. Following the completion of the transaction, the senior vice president now directly owns 20,862 shares of the company’s stock, valued at approximately $563,691.24. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Cosmetics B.V. Jab bought 175,000 shares of the company’s stock in a transaction on Monday, August 22nd. The stock was purchased at an average cost of $29.04 per share, with a total value of $5,082,000.00. Following the completion of the transaction, the insider now owns 7,831,672 shares in the company, valued at $227,431,754.88. The disclosure for this purchase can be found here. 12.40% of the stock is owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in COTY. Royal Bank of Canada increased its position in Coty by 50.9% in the second quarter. Royal Bank of Canada now owns 71,454 shares of the company’s stock valued at $1,857,000 after buying an additional 24,095 shares in the last quarter. Schwab Charles Investment Management Inc. increased its position in Coty by 6.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 153,433 shares of the company’s stock valued at $3,988,000 after buying an additional 8,808 shares in the last quarter. Stifel Financial Corp increased its position in Coty by 2.3% in the second quarter. Stifel Financial Corp now owns 9,405 shares of the company’s stock valued at $245,000 after buying an additional 212 shares in the last quarter. Aristotle Capital Management LLC increased its position in Coty by 1.5% in the second quarter. Aristotle Capital Management LLC now owns 4,569,616 shares of the company’s stock valued at $118,764,000 after buying an additional 67,706 shares in the last quarter. Finally, FDx Advisors Inc. bought a new position in shares of Coty during the second quarter valued at about $205,000. 17.44% of the stock is owned by institutional investors.
Coty Company Profile
Coty Inc is a beauty company. The Company manufactures and markets beauty products with distribution in over 130 countries and territories across both prestige and mass markets. The Company’s segments include Fragrances, Color Cosmetics, and Skin & Body Care. Its Fragrances products include a range of men’s and women’s products, and also include fashion designer, celebrity and lifestyle brands.

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