Analysts Update Their Price Forecasts For Coty Inc. (COTY)

BNP Paribas Arbitrage SNC has recently announced that it has increased stake in Coty Inc. (NYSE:COTY) by 40.48%. After grabbing 26.79 million shares, the institutional investor is now in possession of 7.72 million shares of the Consumer Defensive Company. The new investment brought the stake of investor firm to 3.14% having worth around $322.54 million. Moreover, Crédit Agricole Corporate & Inves increased its share by 26.66 million to have a control over 26.66 million shares. And Santander Asset Management SA SGI raised its holdings to 5.51 million shares by acquiring 26.24 million shares or 3.08% of the stake.

Coty Inc. (COTY) concluded trading on 09/13/23 at a closing price of $11.27, with 3.34 million shares of worth about $37.6 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 2.64% during that period and on Wednesday the price saw a loss of about -1.23%. Currently the company’s common shares owned by public are about 851.70M shares, out of which, 324.38M shares are available for trading.

A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 17 analysts are covering the COTY stock and their offered price forecasts bring an average price target of $13.17. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $15.00 and could fall to a lowest price of $11.00. The stock’s current price level is 14.43% above of average price target set by the analysts, while a rise to estimated low would result in loss of -2.45% for the stock. However, touching the estimated high of $15.00 would mean a gain of 24.87% for the stock.

According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 17 times over the past 12 months. They bought 2,443,540 shares in 14 of the transactions. In 3 selling transactions, insiders dumped 1,244,341 shares.

iShares Core S&P Mid Cap ETF, Hardman Johnston Global Equity, and Vanguard Total Stock Market ETF are the top 3 mutual funds which are holding stakes in Coty Inc. iShares Core S&P Mid Cap ETF is currently holding 11.76 million shares of worth totaling $141.63 million. The company recently came buying 8404.0 shares which brought its stake up to 1.38% of the company’s outstanding shares. Vanguard Total Stock Market ETF, after selling 10.61 million shares, have now control over 1.24% of the stake in the company. It holds 12523.0 shares of worth $127.78 million.

Coty Inc. (NYSE: COTY) started trading at $11.39, below -$0.02 from concluding price of the previous day. Stock saw a price change of 0.99% in past 5 days and over the past one month there was a price change of -5.05%. Year-to-date (YTD), COTY shares are showing a performance of 31.66% which increased to 39.65% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $6.19 but also hit the highest price of $13.46 during that period. The average intraday trading volume for Coty Inc. shares is 4.16 million. The stock is currently trading -0.30% below its 20-day simple moving average (SMA20), while that difference is down -4.82% for SMA50 and it goes to 3.00% higher than SMA200.

BNP Paribas Arbitrage SNC acquired 26.79 million shares of Coty Inc. having value of about $322.54 million. Data submitted at the U.S SEC by BNP Paribas Arbitrage SNC revealed that the firm now holds 7.72 million shares in the company valued at close to $86999103.1, or have control over 40.48% stake in the company. Coty Inc. (NYSE: COTY) currently have 851.70M outstanding shares and institutions hold larger chunk of about 37.80% of that. Holding of mutual funds in the company is about 21.37% while other institutional holders and individual stake holders have control over 67.19% and 19.88% of the stake respectively.

The stock has a current market capitalization of $9.65B and its 3Y-monthly beta is at 1.90. PE ratio of stock for trailing 12 months is 20.05, while it has posted earnings per share of $0.56 in the same period. Its PEG reads 1.10 and has Quick Ratio of 0.40 while making debt-to-equity ratio of 1.15. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for COTY, volatility over the week remained 2.43% while standing at 2.96% over the month.

Analysts are in expectations that Coty Inc. (COTY) stock would likely to be making an EPS of $0.16 in the current quarter, while forecast for next quarter EPS is $0.2 and it is $0.56 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.11 which is $0.21 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.11 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 739.20% while it is estimated to increase by 20.52% in next year. EPS is likely to shrink at an annualized rate of 18.30% for next 5-years, compared to annual growth of 28.40% made by the stock over the past 5-years.

Analysts at 17 brokerage firms have issued recommendations for the Coty Inc. (COTY)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.50. Out of those 17 Wall Street analysts, 7 recommended a “Buy” rating, while 9 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.

Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Jefferies on July 27, 2023 offering a Hold rating for the stock and assigned a target price range of between $16 and $14 to it.