Canaccord Genuity Group Begins Coverage on Coty (NYSE:COTY)

Canaccord Genuity Group initiated coverage on shares of Coty (NYSE:COTY - Free Report) in a report released on Monday morning, Briefing.com reports. The firm issued a buy rating and a $14.00 price target on the stock.

COTY has been the topic of several other reports. TheStreet raised shares of Coty from a c+ rating to a b- rating in a report on Thursday, February 8th. Barclays lowered their price target on shares of Coty from $13.00 to $12.00 and set an equal weight rating on the stock in a report on Friday. DA Davidson reissued a buy rating and issued a $17.50 price target on shares of Coty in a report on Monday, April 8th. TD Cowen raised shares of Coty from a market perform rating to an outperform rating and increased their price target for the company from $13.00 to $16.00 in a report on Thursday, February 22nd. Finally, Canaccord Genuity Group started coverage on shares of Coty in a report on Monday. They issued a buy rating and a $14.00 price target on the stock. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, Coty has a consensus rating of Hold and a consensus price target of $13.30.

Coty Stock Down 0.1 %

Shares of Coty stock traded down $0.01 during trading hours on Monday, reaching $10.50. 4,332,014 shares of the company's stock were exchanged, compared to its average volume of 3,897,579. The company has a 50 day moving average of $12.01 and a two-hundred day moving average of $11.48. Coty has a fifty-two week low of $9.02 and a fifty-two week high of $13.46. The company has a current ratio of 0.85, a quick ratio of 0.58 and a debt-to-equity ratio of 0.80. The stock has a market cap of $9.40 billion, a P/E ratio of 30.00, a P/E/G ratio of 5.81 and a beta of 1.82.

Coty (NYSE:COTY - Get Free Report) last issued its earnings results on Wednesday, February 7th. The company reported $0.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.20 by $0.05. The company had revenue of $1.73 billion for the quarter, compared to analysts' expectations of $1.68 billion. Coty had a net margin of 5.39% and a return on equity of 11.91%. Coty's quarterly revenue was up 13.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.22 EPS. On average, sell-side analysts forecast that Coty will post 0.45 EPS for the current fiscal year.

Insider Buying and Selling at Coty

In other Coty news, Director Robert S. Singer sold 90,000 shares of the firm's stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $12.56, for a total value of $1,130,400.00. Following the sale, the director now owns 169,982 shares in the company, valued at $2,134,973.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Robert S. Singer sold 30,000 shares of Coty stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $12.70, for a total transaction of $381,000.00. Following the transaction, the director now owns 120,000 shares in the company, valued at $1,524,000. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Robert S. Singer sold 90,000 shares of Coty stock in a transaction on Monday, March 4th. The stock was sold at an average price of $12.56, for a total transaction of $1,130,400.00. Following the transaction, the director now owns 169,982 shares in the company, valued at approximately $2,134,973.92. The disclosure for this sale can be found here. Company insiders own 5.80% of the company's stock.

Hedge Funds Weigh In On Coty

Hedge funds have recently modified their holdings of the business. BluePath Capital Management LLC bought a new position in Coty during the third quarter worth $29,000. DekaBank Deutsche Girozentrale bought a new position in Coty during the third quarter worth $31,000. Atlas Capital Advisors LLC bought a new position in Coty during the second quarter worth $37,000. Coppell Advisory Solutions LLC bought a new position in Coty during the second quarter worth $47,000. Finally, US Bancorp DE raised its stake in Coty by 59.8% during the fourth quarter. US Bancorp DE now owns 5,950 shares of the company's stock worth $74,000 after buying an additional 2,226 shares during the last quarter. Institutional investors and hedge funds own 42.36% of the company's stock.

About Coty

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.