Barclays Lowers Coty (NYSE:COTY) Price Target to $3.50

Key Points

• Barclays has lowered its price target for Coty (NYSE:COTY) from $4.50 to $3.50, indicating an "underweight" rating on the stock.
• Other analysts, including Goldman Sachs and Jefferies, have also reduced their price targets for Coty, contributing to a consensus rating of "Hold" and an average target of $6.63.
• Coty's stock has performed poorly, with a market cap of $3.32 billion and a 12-month low of $3.75, while recently reporting a negative earnings per share of ($0.05).

Coty (NYSE:COTY - Get Free Report) had its price objective lowered by Barclays from $4.50 to $3.50 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an "underweight" rating on the stock. Barclays's price target points to a potential downside of 8.11% from the company's previous close.

A number of other equities analysts have also recently weighed in on the company. The Goldman Sachs Group cut their price target on Coty from $8.00 to $6.00 and set a "neutral" rating for the company in a report on Thursday, May 8th. Jefferies Financial Group lowered shares of Coty from a "buy" rating to a "hold" rating and reduced their target price for the company from $6.00 to $4.00 in a report on Thursday. Evercore ISI lowered their price target on shares of Coty from $10.00 to $7.00 and set an "outperform" rating for the company in a report on Thursday. JPMorgan Chase & Co. reduced their price objective on shares of Coty from $6.00 to $5.00 and set a "neutral" rating on the stock in a research note on Thursday, May 8th. Finally, Canaccord Genuity Group restated a "hold" rating and set a $5.00 target price (down previously from $8.00) on shares of Coty in a research report on Thursday, May 8th. Five analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Coty presently has a consensus rating of "Hold" and an average price target of $6.63.

Coty Stock Performance

Shares of COTY opened at $3.8090 on Friday. Coty has a 12-month low of $3.75 and a 12-month high of $10.30. The stock has a market cap of $3.32 billion, a P/E ratio of -8.66, a PEG ratio of 0.68 and a beta of 2.00. The company has a current ratio of 0.82, a quick ratio of 0.51 and a debt-to-equity ratio of 1.03. The company has a 50-day moving average of $4.88 and a two-hundred day moving average of $5.17.

Coty (NYSE:COTY - Get Free Report) last released its quarterly earnings results on Wednesday, August 20th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.06). Coty had a negative net margin of 6.24% and a positive return on equity of 5.10%. The business had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the prior year, the company earned ($0.03) earnings per share. The firm's revenue for the quarter was down 8.1% compared to the same quarter last year. As a group, research analysts predict that Coty will post 0.39 EPS for the current fiscal year.

Hedge Funds Weigh In On Coty

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in shares of Coty by 5.8% during the 1st quarter. Vanguard Group Inc. now owns 37,645,488 shares of the company's stock valued at $205,921,000 after buying an additional 2,055,771 shares during the period. BNP Paribas Financial Markets boosted its holdings in Coty by 0.8% in the second quarter. BNP Paribas Financial Markets now owns 34,460,292 shares of the company's stock valued at $160,240,000 after acquiring an additional 267,261 shares during the last quarter. Ameriprise Financial Inc. grew its position in Coty by 10.5% during the first quarter. Ameriprise Financial Inc. now owns 22,346,995 shares of the company's stock valued at $122,239,000 after acquiring an additional 2,132,613 shares during the period. Dimensional Fund Advisors LP increased its stake in Coty by 13.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 13,318,685 shares of the company's stock worth $92,697,000 after acquiring an additional 1,569,315 shares during the last quarter. Finally, Norges Bank acquired a new stake in Coty during the second quarter worth about $52,449,000. Hedge funds and other institutional investors own 42.36% of the company's stock.

Coty Company Profile

Coty Inc, together with its subsidiaries, manufactures, markets, distributes, and sells beauty products worldwide. It operates through Prestige and Consumer Beauty segments. The company provides fragrance, color cosmetics, and skin and body care products. It offers Prestige segment products primarily through prestige retailers, including perfumeries, department stores, e-retailers, direct-to-consumer websites, and duty-free shops under the Burberry, Calvin Klein, Chloe, Davidoff, Escada, Gucci, Hugo Boss, Jil Sander, Joop!, Kylie Jenner, Lancaster, Marc Jacobs, Miu Miu, Orveda, philosophy, SKKN BY KIM, and Tiffany & Co brands.

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