Canaccord Genuity Group Lowers Coty (NYSE:COTY) Price Target to $4.00

Key Points

• Canaccord Genuity Group has lowered its price target for Coty (NYSE:COTY) from $5.00 to $4.00, maintaining a "hold" rating.
• Several analysts, including Wells Fargo and Citigroup, have also revised their price targets down, with Citigroup setting a new target of $4.25.
• Coty stock has struggled recently, reporting a miss on earnings per share at ($0.05) compared to the expected $0.01, alongside a year-over-year revenue decline of 8.1%.

Coty (NYSE:COTY - Get Free Report) had its price target dropped by research analysts at Canaccord Genuity Group from $5.00 to $4.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a "hold" rating on the stock. Canaccord Genuity Group's target price points to a potential upside of 5.01% from the company's previous close.

Several other equities analysts have also recently issued reports on the stock. Wells Fargo & Company decreased their price target on shares of Coty from $5.00 to $4.00 and set an "equal weight" rating for the company in a research report on Friday. Citigroup reiterated a "neutral" rating and set a $4.25 price objective (down from $6.50) on shares of Coty in a research report on Thursday. Jefferies Financial Group cut shares of Coty from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $6.00 to $4.00 in a research report on Thursday. Royal Bank Of Canada reiterated an "outperform" rating and set a $12.00 price objective on shares of Coty in a research report on Monday. Finally, JPMorgan Chase & Co. reduced their price target on shares of Coty from $6.00 to $5.00 and set a "neutral" rating for the company in a report on Thursday, May 8th. Five research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $6.57.

Coty Stock Performance

Shares of Coty stock opened at $3.8090 on Friday. The company has a 50 day moving average of $4.88 and a 200-day moving average of $5.17. Coty has a 1-year low of $3.75 and a 1-year high of $10.30. 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 market cap of $3.32 billion, a PE ratio of -8.66, a price-to-earnings-growth ratio of 0.68 and a beta of 2.00.

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

Institutional Trading of Coty

Several hedge funds have recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in shares of Coty in the second quarter valued at approximately $52,449,000. Man Group plc bought a new stake in shares of Coty in the fourth quarter valued at approximately $28,473,000. Squarepoint Ops LLC bought a new stake in shares of Coty in the second quarter valued at approximately $15,829,000. AQR Capital Management LLC raised its position in shares of Coty by 456.9% in the first quarter. AQR Capital Management LLC now owns 4,063,070 shares of the company's stock valued at $21,981,000 after purchasing an additional 3,333,511 shares during the period. Finally, Assenagon Asset Management S.A. raised its position in shares of Coty by 162.2% in the first quarter. Assenagon Asset Management S.A. now owns 4,300,292 shares of the company's stock valued at $23,523,000 after purchasing an additional 2,660,221 shares during the period. 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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