Coty (NYSE:COTY) Shares Gap Down – Time to Sell?

Coty Inc. (NYSE:COTY)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $7.47, but opened at $7.23. Coty shares last traded at $7.41, with a volume of 392,030 shares.

Analyst Ratings Changes

COTY has been the topic of several research reports. Canaccord Genuity Group reissued a “buy” rating and set a $14.00 price objective on shares of Coty in a research note on Tuesday, October 15th. Evercore ISI reissued an “outperform” rating and set a $15.00 price objective on shares of Coty in a research note on Wednesday, August 21st. Raymond James dropped their price objective on shares of Coty from $13.00 to $11.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. Barclays lowered shares of Coty from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $8.00 to $7.00 in a research note on Thursday, November 7th. Finally, TD Cowen lowered shares of Coty from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $11.00 to $8.50 in a research note on Wednesday. One analyst has rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $11.56.

Coty Price Performance

The company has a quick ratio of 0.55, a current ratio of 0.85 and a debt-to-equity ratio of 0.93. The firm’s fifty day moving average price is $8.46 and its two-hundred day moving average price is $9.50. The stock has a market capitalization of $6.58 billion, a PE ratio of 44.62, a PEG ratio of 0.73 and a beta of 1.91.

Coty (NYSE:COTY) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.04). Coty had a net margin of 2.78% and a return on equity of 9.16%. The company had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.67 billion. During the same period in the previous year, the firm earned $0.09 earnings per share. The firm’s revenue for the quarter was up 1.8% on a year-over-year basis. On average, equities analysts predict that Coty Inc. will post 0.52 earnings per share for the current year.

Institutional Trading of Coty

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Blue Trust Inc. boosted its position in shares of Coty by 330.3% during the third quarter. Blue Trust Inc. now owns 3,107 shares of the company’s stock worth $31,000 after acquiring an additional 2,385 shares during the last quarter. Quent Capital LLC boosted its position in shares of Coty by 1,448.8% during the second quarter. Quent Capital LLC now owns 5,142 shares of the company’s stock worth $52,000 after acquiring an additional 4,810 shares during the last quarter. WealthShield Partners LLC bought a new position in shares of Coty during the second quarter worth $100,000. Fifth Third Wealth Advisors LLC bought a new position in shares of Coty during the second quarter worth $107,000. Finally, Capstone Investment Advisors LLC bought a new position in shares of Coty during the third quarter worth $109,000. 42.36% of the stock is owned by hedge funds and other institutional investors.

Coty Company Profile

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.