Coty (NYSE:COTY) Sets New 1-Year Low – What’s Next?

Coty (NYSE:COTY)’s stock price reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $1.98 and last traded at $2.0250, with a volume of 506506 shares. The stock had previously closed at $2.00.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Citigroup decreased their target price on shares of Coty from $3.50 to $3.00 and set a “neutral” rating on the stock in a research report on Monday, February 9th. TD Cowen reduced their price objective on shares of Coty from $3.50 to $3.40 and set a “hold” rating for the company in a research note on Wednesday, January 21st. Morgan Stanley set a $3.50 price objective on shares of Coty in a report on Monday, February 9th. Jefferies Financial Group initiated coverage on shares of Coty in a research report on Wednesday, January 14th. They set a “buy” rating and a $3.50 target price on the stock. Finally, Santander cut shares of Coty to a “neutral” rating in a report on Tuesday, December 23rd. One analyst has rated the stock with a Buy rating, seventeen have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of $4.31.

Coty Stock Performance

The company has a debt-to-equity ratio of 0.81, a current ratio of 0.79 and a quick ratio of 0.52. The company has a market capitalization of $1.81 billion, a PE ratio of -3.31, a P/E/G ratio of 0.33 and a beta of 0.96. The stock has a 50-day simple moving average of $2.62 and a 200 day simple moving average of $3.27.

Coty (NYSE:COTY) last announced its quarterly earnings results on Thursday, February 5th. The company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.04). The firm had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.66 billion. Coty had a negative net margin of 9.13% and a positive return on equity of 5.38%. The company’s quarterly revenue was up .5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.11 EPS. Equities analysts anticipate that Coty will post 0.39 EPS for the current fiscal year.

Insider Buying and Selling at Coty

In related news, insider Bretten Gordon Von acquired 83,000 shares of the business’s stock in a transaction that occurred on Friday, March 6th. The stock was purchased at an average cost of $2.41 per share, for a total transaction of $200,030.00. Following the transaction, the insider directly owned 986,620 shares of the company’s stock, valued at approximately $2,377,754.20. This trade represents a 9.19% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 5.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Coty

Hedge funds have recently bought and sold shares of the stock. Hsbc Holdings PLC raised its holdings in shares of Coty by 2,291.6% in the fourth quarter. Hsbc Holdings PLC now owns 583,366 shares of the company’s stock worth $1,816,000 after acquiring an additional 558,974 shares during the last quarter. Corient Private Wealth LLC purchased a new stake in Coty during the 4th quarter worth about $43,000. Alpine Global Management LLC purchased a new stake in Coty during the 4th quarter worth about $179,000. Virtu Financial LLC raised its stake in Coty by 195.8% in the 4th quarter. Virtu Financial LLC now owns 61,367 shares of the company’s stock valued at $189,000 after purchasing an additional 40,619 shares during the last quarter. Finally, Invesco Ltd. raised its position in shares of Coty by 68.2% in the 4th quarter. Invesco Ltd. now owns 3,848,538 shares of the company’s stock worth $11,853,000 after buying an additional 1,560,387 shares during the period. Hedge funds and other institutional investors own 42.36% of the company’s stock.

About Coty

Coty Inc is a multinational beauty company specializing in the development, manufacturing and marketing of fragrances, color cosmetics and skin and body care products. Established in 1904 by François Coty in Paris, the company has grown through a blend of organic innovation and strategic acquisitions to become one of the leading players in the global beauty industry. Coty’s portfolio encompasses a broad range of consumer and luxury brands, reflecting its commitment to catering to diverse consumer preferences and market segments.

The company’s product offerings span three main divisions: Coty Luxury, Coty Consumer Beauty and Coty Professional Beauty.