Coty (NYSE:COTY) Stock Price Down 4.5% – Should You Sell?

Shares of Coty (NYSE:COTY) were down 4.5% on Wednesday. The company traded as low as $4.13 and last traded at $4.1350. Approximately 1,470,481 shares traded hands during trading, a decline of 83% from the average daily volume of 8,700,063 shares. The stock had previously closed at $4.33.

Analysts Set New Price Targets

COTY has been the subject of a number of recent research reports. Wall Street Zen upgraded Coty from a “hold” rating to a “buy” rating in a research note on Saturday, November 7th. Weiss Ratings cut shares of Coty from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, October 30th. Barclays lifted their price target on shares of Coty from $2.00 to $3.00 and gave the company an “underweight” rating in a report on Monday. The Goldman Sachs Group reiterated a “neutral” rating and issued a $2.60 price target on shares of Coty in a research report on Thursday, August 20th. Finally, Morgan Stanley increased their price objective on shares of Coty from $2.50 to $2.75 and gave the stock an “equal weight” rating in a research note on Tuesday, August 25th. One investment analyst has rated the stock with a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Coty presently has an average rating of “Reduce” and an average target price of $3.48.

Coty Stock Performance

The stock has a market cap of $3.54 billion, a P/E ratio of 16.24, a price-to-earnings-growth ratio of 0.50 and a beta of 0.83. The company has a quick ratio of 0.45, a current ratio of 0.75 and a debt-to-equity ratio of 0.84. The business has a 50 day moving average price of $3.05 and a two-hundred day moving average price of $2.57.

Coty (NYSE:COTY) last released its earnings results on Wednesday, November 4th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.04. The firm had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.53 billion. Coty had a positive return on equity of 7.11% and a negative net margin of 9.74%. The firm’s revenue was down 1.4% on a year-over-year basis. During the same quarter last year, the business posted $0.12 earnings per share. On average, sell-side analysts forecast that Coty will post 0.34 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Coty

Several hedge funds have recently modified their holdings of COTY. Pacer Advisors Inc. grew its stake in Coty by 2,300.9% during the first quarter. Pacer Advisors Inc. now owns 2,953,407 shares of the company’s stock valued at $5,936,000 after acquiring an additional 2,830,397 shares in the last quarter. Royce & Associates LP boosted its holdings in shares of Coty by 495.9% during the 3rd quarter. Royce & Associates LP now owns 2,979,390 shares of the company’s stock valued at $7,776,000 after purchasing an additional 2,479,390 shares during the last quarter. First Trust Advisors LP grew its position in shares of Coty by 827.5% during the first quarter. First Trust Advisors LP now owns 2,018,890 shares of the company’s stock valued at $4,058,000 after purchasing an additional 1,801,209 shares in the last quarter. Maverick Capital Ltd. purchased a new position in shares of Coty during the first quarter valued at about $2,536,000. Finally, Renaissance Technologies LLC grew its position in shares of Coty by 177.6% during the first quarter. Renaissance Technologies LLC now owns 1,311,687 shares of the company’s stock valued at $2,636,000 after purchasing an additional 839,257 shares in the last quarter. Hedge funds and other institutional investors own 42.36% of the company’s stock.

Coty Company Profile

Coty is a global beauty company that develops, manufactures, markets and distributes fragrances, cosmetics, skin care and body-care products. Its portfolio spans prestige and consumer beauty, with products sold in markets around the world. The company’s brands include CoverGirl, Rimmel London, Max Factor and Sally Hansen. Coty also produces fragrances and beauty products under license for a range of fashion and lifestyle brands. Founded in Paris in 1904 by perfumer François Coty, the company has grown from a fragrance business into a broad-based beauty group.