Morgan Stanley Increases Coty (NYSE:COTY) Price Target to $6.50


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Coty (NYSE:COTY) had its target price hoisted by equities research analysts at Morgan Stanley from $6.00 to $6.50 in a report issued on Thursday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s target price would indicate a potential downside of 10.71% from the company’s previous close.

A number of other equities analysts also recently commented on COTY. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised shares of Coty from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $4.50 to $10.00 in a report on Thursday, November 19th. DA Davidson boosted their target price on shares of Coty from $3.50 to $4.00 and gave the company a “neutral” rating in a research note on Monday, November 9th. Jefferies Financial Group upgraded shares of Coty from a “hold” rating to a “buy” rating and set a $4.00 target price for the company in a research note on Wednesday, October 7th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Coty from $4.00 to $6.00 and gave the company a “hold” rating in a research note on Monday, November 9th. Finally, Wells Fargo & Company lowered shares of Coty from an “equal weight” rating to an “underweight” rating and upped their price target for the stock from $4.00 to $5.00 in a research report on Monday, December 7th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and five have issued a buy rating to the stock. Coty has an average rating of “Hold” and a consensus target price of $6.67.

Shares of NYSE:COTY opened at $7.28 on Thursday. The company has a current ratio of 1.90, a quick ratio of 1.70 and a debt-to-equity ratio of 2.37. The company has a fifty day simple moving average of $7.06 and a 200 day simple moving average of $4.65. The firm has a market cap of $5.58 billion, a PE ratio of -6.28 and a beta of 2.25. Coty has a 12-month low of $2.65 and a 12-month high of $13.01.

Coty (NYSE:COTY) last issued its quarterly earnings results on Friday, November 6th. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.18. The business had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.08 billion. Coty had a negative net margin of 15.56% and a negative return on equity of 3.35%. The business’s revenue was down 13.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.07 earnings per share. As a group, equities research analysts forecast that Coty will post 0.23 EPS for the current fiscal year.

In related news, Director Robert S. Singer purchased 5,000 shares of the stock in a transaction on Tuesday, November 24th. The shares were bought at an average price of $7.26 per share, for a total transaction of $36,300.00. Following the completion of the acquisition, the director now directly owns 339,982 shares in the company, valued at approximately $2,468,269.32. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Bayern Anna Von purchased 10,000 shares of the stock in a transaction on Wednesday, December 9th. The shares were bought at an average price of $7.30 per share, for a total transaction of $73,000.00. Following the acquisition, the insider now owns 10,000 shares of the company’s stock, valued at $73,000. The disclosure for this purchase can be found here. Insiders purchased 1,061,000 shares of company stock worth $6,614,340 in the last 90 days. 1.90% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in the business. Brave Asset Management Inc. bought a new stake in shares of Coty in the third quarter valued at approximately $30,000. World Asset Management Inc acquired a new stake in Coty in the third quarter worth about $31,000. Point72 Hong Kong Ltd acquired a new stake in Coty in the second quarter worth about $67,000. Boothbay Fund Management LLC acquired a new position in shares of Coty during the 3rd quarter worth about $41,000. Finally, Profund Advisors LLC bought a new position in shares of Coty during the 3rd quarter valued at about $47,000. Institutional investors own 22.65% of the company’s stock.

Coty Company Profile

Coty Inc, together with its subsidiaries, manufactures, markets, distributes, and sells beauty products worldwide. The company provides prestige fragrances, skin care, and color cosmetics products through prestige retailers, including perfumeries, department stores, e-retailers, direct-to-consumer websites, and duty-free shops under the Alexander McQueen, Burberry, Bottega Veneta, Calvin Klein, Cavalli, Chloe, Davidoff, Escada, Gucci, Hugo Boss, Jil Sander, Joop!, Kylie Jenner, Lacoste, Lancaster, Marc Jacobs, Miu Miu, Nikos, philosophy, and Tiffany & Co brands.

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Analyst Recommendations for Coty (NYSE:COTY)

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