Citigroup Forecasts Strong Price Appreciation for Coty (NYSE:COTY) Stock

Key Points

• Citigroup raised its Coty price target from $3.00 to $4.50 but maintained a neutral rating; the target implies 13.49% upside from the prior close.
• Analyst sentiment remains cautious overall: MarketBeat reports a consensus “Reduce” rating and an average price target of $3.48, with 10 Hold, one Buy, and two Sell ratings.
• Coty beat quarterly earnings and revenue estimates, reporting EPS of $0.16 versus $0.12 expected and revenue of $1.56 billion versus $1.53 billion; revenue was down 1.4% year over year.

Coty (NYSE:COTY - Get Free Report) had its price target increased by analysts at Citigroup from $3.00 to $4.50 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has a "neutral" rating on the stock. Citigroup's price target suggests a potential upside of 13.49% from the company's previous close.

Other equities research analysts have also issued research reports about the company. Wall Street Zen upgraded Coty from a "hold" rating to a "buy" rating in a research report on Saturday, November 7th. Royal Bank Of Canada upped their target price on Coty from $3.00 to $3.50 and gave the stock a "sector perform" rating in a report on Friday, November 6th. TD Cowen started coverage on Coty in a research note on Friday, October 30th. They set a "hold" rating on the stock. The Goldman Sachs Group reissued a "neutral" rating and set a $2.60 price target on shares of Coty in a research note on Thursday, August 20th. Finally, Zacks Research upgraded Coty from a "strong sell" rating to a "hold" rating in a report on Thursday, November 5th. One analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Reduce" and a consensus target price of $3.48.

Coty Price Performance

Shares of Coty stock traded down $0.10 during midday trading on Thursday, hitting $3.96. 908,105 shares of the company traded hands, compared to its average volume of 8,679,824. The firm's fifty day moving average price is $3.02 and its 200-day moving average price is $2.56. The stock has a market cap of $3.49 billion, a price-to-earnings ratio of -6.10, a PEG ratio of 0.54 and a beta of 0.83. Coty has a 12 month low of $1.82 and a 12 month high of $4.36. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.45 and a current ratio of 0.75.

Coty (NYSE:COTY - Get Free Report) last issued its earnings results on Wednesday, November 4th. The company reported $0.16 earnings per share for the quarter, beating analysts' consensus estimates of $0.12 by $0.04. The firm had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.53 billion. Coty had a negative net margin of 9.74% and a positive return on equity of 7.11%. The company's quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter last year, the business posted $0.12 earnings per share. As a group, sell-side analysts forecast that Coty will post 0.34 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Moss Adams Wealth Advisors LLC acquired a new stake in shares of Coty in the third quarter valued at about $29,000. Gryphon Financial Partners LLC acquired a new position in shares of Coty in the third quarter worth approximately $29,000. AlphaGrep UK Ltd bought a new stake in Coty in the second quarter valued at approximately $25,000. Elmwood Wealth Management Inc. bought a new stake in Coty in the third quarter valued at approximately $34,000. Finally, Vise Technologies Inc. acquired a new stake in Coty during the 3rd quarter valued at approximately $36,000. 42.36% of the stock is owned by institutional investors and hedge funds.

Coty Company Profile

Coty is a global beauty company that develops, manufactures, markets and distributes fragrances, cosmetics, skin care and body-care products. Its portfolio spans prestige and consumer beauty, with products sold in markets around the world. The company's brands include CoverGirl, Rimmel London, Max Factor and Sally Hansen. Coty also produces fragrances and beauty products under license for a range of fashion and lifestyle brands. Founded in Paris in 1904 by perfumer François Coty, the company has grown from a fragrance business into a broad-based beauty group.

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