Coty Inc (COTY) Receives a Hold from Wells Fargo


Wells Fargo analyst Bonnie Herzog maintained a Hold rating on Coty Inc (COTY) on February 12. The company’s shares closed on Friday at $11.04.

Herzog observed:

“We had expected JAB to step up purchases of COTY shares, but today’s offer was bigger and came sooner than we expected. We view the announcement positively and expect COTY shares to trade materially higher today, perhaps close to the tender price.”

According to TipRanks.com, Herzog is a 4-star analyst with an average return of 4.5% and a 60.6% success rate. Herzog covers the Consumer Goods sector, focusing on stocks such as Coca-Cola European Partners plc, The Estée Lauder Companies Inc, and Constellation Brands Inc.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Coty Inc with a $11.71 average price target, implying a 6.1% upside from current levels. In a report issued on February 11, Deutsche Bank also maintained a Hold rating on the stock with a $9 price target.

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Based on Coty Inc’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $961 million. In comparison, last year the company had a net profit of $109 million.

Based on the recent corporate insider activity of 18 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of COTY in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Coty, Inc. engages in the manufacture, market, sale, and distribution of branded beauty products. It operates through the following segments: Consumer Beauty, Luxury, and Professional Beauty. The Consumer Beauty segment offers color cosmetics, retail hair coloring and styling products, body care, and mass fragrances.

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