JPMorgan Chase & Co. Trims Coty (NYSE:COTY) Target Price to $10.00

Coty (NYSE:COTY) had its target price decreased by equities research analysts at JPMorgan Chase & Co. from $11.00 to $10.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 22.70% from the company’s previous close.

Several other equities analysts have also issued reports on COTY. Evercore ISI reissued an “outperform” rating and set a $15.00 target price on shares of Coty in a research note on Wednesday, August 21st. Royal Bank of Canada restated an “outperform” rating and issued a $14.00 price objective on shares of Coty in a report on Tuesday. Barclays reduced their target price on shares of Coty from $11.00 to $10.00 and set an “equal weight” rating on the stock in a report on Thursday, August 22nd. Jefferies Financial Group upgraded shares of Coty from a “hold” rating to a “buy” rating and boosted their price target for the stock from $11.00 to $12.00 in a research note on Monday, October 7th. Finally, Bank of America reduced their price objective on Coty from $15.00 to $14.00 and set a “buy” rating on the stock in a research note on Wednesday, July 10th. Seven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Coty presently has a consensus rating of “Moderate Buy” and an average price target of $12.50.

Coty Price Performance

COTY traded down $1.02 on Tuesday, reaching $8.15. 9,456,228 shares of the company’s stock were exchanged, compared to its average volume of 3,964,531. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.75 and a quick ratio of 0.46. The stock’s fifty day moving average price is $9.28 and its 200-day moving average price is $10.05. The stock has a market cap of $7.07 billion, a PE ratio of 35.39, a P/E/G ratio of 0.67 and a beta of 1.89. Coty has a twelve month low of $7.95 and a twelve month high of $13.30.

Coty (NYSE:COTY) last issued its quarterly earnings data on Tuesday, August 20th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.07). The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.38 billion. Coty had a return on equity of 8.05% and a net margin of 1.46%. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.01 earnings per share. Sell-side analysts expect that Coty will post 0.56 EPS for the current year.

Institutional Trading of Coty

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Coty by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 39,776,331 shares of the company’s stock valued at $494,022,000 after buying an additional 494,639 shares during the last quarter. Nomura Holdings Inc. acquired a new position in Coty in the fourth quarter valued at $1,533,000. Fulton Bank N.A. raised its holdings in shares of Coty by 73.6% in the first quarter. Fulton Bank N.A. now owns 18,238 shares of the company’s stock valued at $218,000 after buying an additional 7,730 shares during the last quarter. Vaughan Nelson Investment Management L.P. boosted its stake in shares of Coty by 78.4% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 3,174,872 shares of the company’s stock worth $37,972,000 after buying an additional 1,395,230 shares during the period. Finally, State of Michigan Retirement System boosted its stake in shares of Coty by 2.7% during the first quarter. State of Michigan Retirement System now owns 92,298 shares of the company’s stock worth $1,104,000 after buying an additional 2,400 shares during the period. 42.36% of the stock is 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.