Coty (NYSE:COTY) Sets New 52-Week Low - Here's Why
Coty (NYSE:COTY) reached a new 52-week low of $3.67, closing at $3.70 with a trading volume of over 14 million shares. Analysts have downgraded the stock, with price targets ranging from $3.50 to $7.00. The company reported a quarterly loss of $0.05 per share, missing estimates, and a revenue decline of 8.1% year-over-year. Insider buying was noted, with CEO Sue Nabi purchasing 260,000 shares. The stock has an average rating of "Hold" and a market cap of $3.22 billion.
Coty (NYSE:COTY - Get Free Report)'s stock price reached a new 52-week low during trading on Wednesday . The stock traded as low as $3.67 and last traded at $3.70, with a volume of 14001086 shares. The stock had previously closed at $3.81.
Analyst Ratings Changes
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Several equities research analysts have recently commented on the stock. Evercore ISI lowered their price objective on shares of Coty from $10.00 to $7.00 and set an "outperform" rating for the company in a research note on Thursday, August 21st. Jefferies Financial Group downgraded shares of Coty from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $6.00 to $4.00 in a research note on Thursday, August 21st. Citigroup reiterated a "neutral" rating and set a $4.25 price objective (down from $6.50) on shares of Coty in a research note on Thursday, August 21st. JPMorgan Chase & Co. lowered their price objective on shares of Coty from $6.00 to $5.00 and set a "neutral" rating for the company in a research note on Thursday, May 8th. Finally, Bank of America lowered their price objective on shares of Coty from $4.00 to $3.50 and set an "underperform" rating for the company in a research note on Friday, August 22nd. Four investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $6.19.
Get Our Latest Stock Report on COTY
Coty Trading Down 3.0%
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The company has a debt-to-equity ratio of 1.06, a current ratio of 0.77 and a quick ratio of 0.46. The company's fifty day moving average is $4.81 and its 200-day moving average is $5.10. The stock has a market cap of $3.22 billion, a PE ratio of -8.40, a PEG ratio of 0.34 and a beta of 2.00.
Coty (NYSE:COTY - Get Free Report) last released its quarterly earnings data on Wednesday, August 20th. The company reported ($0.05) earnings per share for the quarter, missing analysts' consensus estimates of $0.01 by ($0.06). Coty had a negative net margin of 6.24% and a positive return on equity of 5.18%. The firm had revenue of $1.25 billion during the quarter, compared to analysts' expectations of $1.20 billion. During the same period in the previous year, the firm posted ($0.03) EPS. The firm's quarterly revenue was down 8.1% on a year-over-year basis. On average, analysts predict that Coty will post 0.39 earnings per share for the current fiscal year.
Insiders Place Their Bets
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In other news, insider Priya Srinivasan acquired 30,000 shares of the business's stock in a transaction on Friday, August 22nd. The stock was bought at an average price of $3.84 per share, with a total value of $115,200.00. Following the completion of the acquisition, the insider owned 37,509 shares of the company's stock, valued at approximately $144,034.56. This represents a 399.52% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Sue Nabi acquired 260,000 shares of the business's stock in a transaction on Friday, August 22nd. The stock was purchased at an average cost of $3.92 per share, with a total value of $1,019,200.00. Following the acquisition, the chief executive officer directly owned 32,127,286 shares of the company's stock, valued at $125,938,961.12. This represents a 0.82% increase in their position. The disclosure for this purchase can be found here. 6.00% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Coty
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. purchased a new stake in shares of Coty during the fourth quarter worth about $3,030,000. First Trust Advisors LP increased its stake in shares of Coty by 36.2% during the fourth quarter. First Trust Advisors LP now owns 539,792 shares of the company's stock worth $3,757,000 after purchasing an additional 143,571 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Coty by 13.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 13,318,685 shares of the company's stock worth $92,697,000 after purchasing an additional 1,569,315 shares in the last quarter. MetLife Investment Management LLC increased its stake in shares of Coty by 9.3% during the fourth quarter. MetLife Investment Management LLC now owns 206,237 shares of the company's stock worth $1,435,000 after purchasing an additional 17,553 shares in the last quarter. Finally, Stifel Financial Corp increased its stake in shares of Coty by 29.1% during the fourth quarter. Stifel Financial Corp now owns 116,443 shares of the company's stock worth $810,000 after purchasing an additional 26,218 shares in the last quarter. 42.36% of the stock is owned by hedge funds and other institutional investors.
About Coty
(Get Free Report)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.
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