Wells Fargo & Company Cuts Coty (NYSE:COTY) Price Target to $6.00

Coty (NYSE:COTY) had its price objective lowered by Wells Fargo & Company from $7.00 to $6.00 in a report released on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price indicates a potential upside of 13.42% from the company’s previous close.

COTY has been the topic of several other reports. Berenberg Bank started coverage on shares of Coty in a research note on Tuesday, March 25th. They set a “buy” rating and a $7.50 price target on the stock. Canaccord Genuity Group lowered their target price on shares of Coty from $10.00 to $8.00 and set a “buy” rating for the company in a report on Wednesday, February 12th. The Goldman Sachs Group reduced their price objective on Coty from $9.00 to $8.00 and set a “neutral” rating for the company in a research report on Wednesday, February 12th. Barclays cut their price objective on Coty from $6.00 to $5.00 and set an “underweight” rating for the company in a research note on Thursday, March 27th. Finally, DA Davidson reaffirmed a “buy” rating and set a $12.50 target price on shares of Coty in a research note on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $9.55.

Coty Trading Down 6.4 %

COTY traded down $0.36 during trading on Wednesday, reaching $5.29. 4,621,873 shares of the stock traded hands, compared to its average volume of 6,823,741. The stock’s 50-day moving average is $6.04 and its 200 day moving average is $7.15. The stock has a market capitalization of $4.61 billion, a PE ratio of -529.00, a P/E/G ratio of 0.81 and a beta of 1.97. Coty has a 12 month low of $5.20 and a 12 month high of $11.81. The company has a quick ratio of 0.45, a current ratio of 0.71 and a debt-to-equity ratio of 0.85.

Coty (NYSE:COTY) last issued its quarterly earnings results on Monday, February 10th. The company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.11). Coty had a net margin of 0.22% and a return on equity of 6.34%. Equities analysts anticipate that Coty will post 0.39 earnings per share for the current year.

Institutional Trading of Coty

A number of institutional investors and hedge funds have recently modified their holdings of COTY. State Street Corp lifted its stake in shares of Coty by 2.3% in the third quarter. State Street Corp now owns 11,043,208 shares of the company’s stock worth $103,696,000 after buying an additional 251,964 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Coty by 16.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 743,445 shares of the company’s stock valued at $6,981,000 after buying an additional 107,014 shares in the last quarter. Barclays PLC raised its holdings in shares of Coty by 147.1% during the 3rd quarter. Barclays PLC now owns 1,165,806 shares of the company’s stock worth $10,947,000 after acquiring an additional 693,961 shares during the period. Amundi grew its holdings in shares of Coty by 1,990,624.9% in the fourth quarter. Amundi now owns 4,479,131 shares of the company’s stock valued at $30,503,000 after purchasing an additional 4,478,906 shares during the period. Finally, TCW Group Inc. boosted its holdings in Coty by 44.1% in the 4th quarter. TCW Group Inc. now owns 304,797 shares of the company’s stock valued at $2,121,000 after purchasing an additional 93,229 shares during the last quarter. 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.