Coty (NYSE:COTY) Reaches New 52-Week Low – Here’s What Happened

Coty Inc. (NYSE:COTY) reached a new 52-week low during trading on Tuesday . The stock traded as low as $6.59 and last traded at $6.76, with a volume of 5566785 shares trading hands. The stock had previously closed at $6.67.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on COTY shares. DA Davidson reiterated a “buy” rating and set a $12.50 target price on shares of Coty in a report on Wednesday, December 18th. Canaccord Genuity Group reiterated a “buy” rating and issued a $14.00 price objective on shares of Coty in a research note on Tuesday, October 15th. Jefferies Financial Group lowered their target price on Coty from $12.00 to $11.00 and set a “buy” rating for the company in a research note on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft lowered their price objective on Coty from $14.00 to $12.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. Finally, TD Cowen cut shares of Coty from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $11.00 to $8.50 in a research report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $11.29.

Coty Stock Performance

The company has a market capitalization of $6.01 billion, a PE ratio of 40.65, a P/E/G ratio of 0.74 and a beta of 1.89. The stock has a 50-day simple moving average of $7.21 and a 200 day simple moving average of $8.47. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.85 and a quick ratio of 0.55.

Coty (NYSE:COTY) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.04). Coty had a net margin of 2.78% and a return on equity of 9.16%. The business had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.67 billion. During the same period last year, the company earned $0.09 EPS. The firm’s revenue for the quarter was up 1.8% on a year-over-year basis. Equities analysts anticipate that Coty Inc. will post 0.51 EPS for the current fiscal year.

Institutional Investors Weigh In On Coty

A number of hedge funds and other institutional investors have recently modified their holdings of the company. American Century Companies Inc. boosted its position in Coty by 10.6% during the second quarter. American Century Companies Inc. now owns 14,746 shares of the company’s stock worth $148,000 after acquiring an additional 1,414 shares during the last quarter. State of Alaska Department of Revenue increased its stake in shares of Coty by 3.8% during the 3rd quarter. State of Alaska Department of Revenue now owns 42,339 shares of the company’s stock valued at $397,000 after acquiring an additional 1,545 shares during the last quarter. Blue Trust Inc. increased its position in Coty by 330.3% during the third quarter. Blue Trust Inc. now owns 3,107 shares of the company’s stock worth $31,000 after purchasing an additional 2,385 shares during the last quarter. Atria Investments Inc raised its stake in Coty by 19.3% during the third quarter. Atria Investments Inc now owns 18,650 shares of the company’s stock worth $175,000 after purchasing an additional 3,022 shares during the period. Finally, Fulton Bank N.A. boosted its holdings in shares of Coty by 16.1% in the 3rd quarter. Fulton Bank N.A. now owns 26,214 shares of the company’s stock valued at $246,000 after purchasing an additional 3,636 shares during the last quarter. 42.36% of the stock is currently owned by hedge funds and other institutional investors.

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.