Coty (NYSE:COTY) Trading 3.4% Higher – Here’s What Happened

Coty Inc. (NYSE:COTY) shot up 3.4% during mid-day trading on Monday . The company traded as high as $5.85 and last traded at $5.91. 935,948 shares traded hands during trading, a decline of 86% from the average session volume of 6,685,498 shares. The stock had previously closed at $5.71.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on COTY. Barclays cut their price objective on Coty from $7.00 to $6.00 and set an “underweight” rating for the company in a research report on Friday, January 17th. Raymond James cut their price target on Coty from $13.00 to $11.00 and set an “outperform” rating for the company in a research note on Friday, November 8th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $13.00 price objective on shares of Coty in a research report on Wednesday, February 12th. TD Cowen cut Coty from a “buy” rating to a “hold” rating and decreased their target price for the stock from $11.00 to $8.50 in a research report on Wednesday, November 13th. Finally, Wells Fargo & Company reduced their price target on shares of Coty from $9.00 to $7.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $9.89.

Coty Stock Up 5.9 %

The stock has a 50-day moving average of $6.81 and a 200 day moving average of $7.86. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.71 and a quick ratio of 0.45. The company has a market cap of $5.27 billion, a P/E ratio of -604.50, a PEG ratio of 0.81 and a beta of 1.89.

Coty (NYSE:COTY) last released its earnings results on Monday, February 10th. The company reported $0.11 earnings per share (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%. Research analysts anticipate that Coty Inc. will post 0.39 earnings per share for the current year.

Hedge Funds Weigh In On Coty

A number of hedge funds have recently modified their holdings of the business. Blue Trust Inc. boosted its holdings in Coty by 330.3% in the third quarter. Blue Trust Inc. now owns 3,107 shares of the company’s stock valued at $31,000 after acquiring an additional 2,385 shares during the last quarter. Raymond James & Associates raised its holdings in Coty by 13.2% during the third quarter. Raymond James & Associates now owns 348,560 shares of the company’s stock worth $3,273,000 after buying an additional 40,572 shares during the last quarter. State of Alaska Department of Revenue lifted its stake in shares of Coty by 3.8% in the third quarter. State of Alaska Department of Revenue now owns 42,339 shares of the company’s stock valued at $397,000 after buying an additional 1,545 shares in the last quarter. M&G PLC increased its position in shares of Coty by 4.7% during the third quarter. M&G PLC now owns 533,731 shares of the company’s stock worth $4,804,000 after acquiring an additional 24,037 shares in the last quarter. Finally, Atria Investments Inc raised its holdings in shares of Coty by 19.3% in the 3rd quarter. Atria Investments Inc now owns 18,650 shares of the company’s stock worth $175,000 after acquiring an additional 3,022 shares during the last quarter. Institutional investors and hedge funds 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.