Coty (NYSE:COTY) received a $17.00 price target from stock analysts at Wells Fargo & Company in a research report issued to clients and investors on Monday. The firm currently has a “hold” rating on the stock. Wells Fargo & Company’s target price suggests a potential downside of 5.08% from the company’s current price.
The analysts wrote, “We maintain our Market Perform rating. Restages Biggest Wild Card for Consumer Beauty – We believe the expected F2H18 organic sales growth improvement for the Consumer Beauty segment is highly dependent on successful upcoming brand restages for Cover Girl, Clairol and Max Factor, among other smaller brands. To frame the complexity, the Cover Girl restage alone includes new marketing/digital, innovation, >1K skus with new packaging, and more “premium” in-store displays across 60K stores, with 25% of products a “hard cut” and the remaining 75% “phase-in, phase-out”. The restages are expected to take place between Jan-Apr 2018, and mgmt expects to see improvement in sell-out in FQ3/Q4. Mgmt noted retailers have been receptive of the restage plans, but we view execution risk as high. The Path to High-Teens EBIT Margin – $750MM of synergies are on track to be realized by FY20.””
Other equities research analysts have also issued reports about the stock. KeyCorp reiterated a “hold” rating on shares of Coty in a research note on Friday, August 25th. Bank of America lowered their price target on shares of Coty from $23.00 to $21.00 and set a “buy” rating on the stock in a research note on Wednesday, August 23rd. Jefferies Group reiterated a “hold” rating and issued a $18.00 price target (up from $17.00) on shares of Coty in a research note on Wednesday, August 23rd. BMO Capital Markets reiterated a “buy” rating on shares of Coty in a research note on Sunday, November 12th. Finally, Stifel Nicolaus set a $25.00 price target on shares of Coty and gave the company a “buy” rating in a research note on Monday, August 21st. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $19.30.
Coty (NYSE:COTY) last issued its quarterly earnings results on Thursday, November 9th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.03. Coty had a negative net margin of 5.02% and a positive return on equity of 4.26%. The firm had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same period in the previous year, the business earned $0.23 EPS. The company’s revenue was up 107.3% compared to the same quarter last year. equities research analysts predict that Coty will post 0.67 EPS for the current fiscal year.
In related news, SVP Ayesha Zafar bought 21,570 shares of Coty stock in a transaction that occurred on Wednesday, September 13th. The stock was acquired at an average price of $17.11 per share, with a total value of $369,062.70. Following the acquisition, the senior vice president now owns 10,000 shares of the company’s stock, valued at approximately $171,100. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Cosmetics B.V. Jab bought 5,400,000 shares of Coty stock in a transaction that occurred on Wednesday, November 15th. The shares were bought at an average cost of $16.85 per share, with a total value of $90,990,000.00. Following the acquisition, the insider now directly owns 279,608,041 shares in the company, valued at approximately $4,711,395,490.85. The disclosure for this purchase can be found here. Insiders have purchased a total of 10,021,570 shares of company stock valued at $168,851,063 in the last ninety days. 1.00% of the stock is currently owned by insiders.
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Coty Inc is a beauty company. The Company operates through four segments: Fragrances, Color Cosmetics, Skin & Body Care and Brazil Acquisition. Its fragrance products include a range of men’s and women’s products. Its fragrance brands include Calvin Klein, Marc Jacobs, Davidoff, Chloe, Balenciaga, Beyonce, Bottega Veneta, Miu Miu and Roberto Cavalli.
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