In a report released today, Joe Lachky from Wells Fargo reiterated a Hold rating on Coty Inc (COTY), with a price target of $9. The company’s shares opened today at $9.33.
Lachky commented:
“We are lowering our FY19/FY20 EPS estimates by -$0.01 to $0.64/$0.70 on the lower EBIT outlook, but raising our price target by $1 to $9 given the increased possibility a turnaround is building.”
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Coty Inc with a $10.17 average price target.
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Based on Coty Inc’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $12.1 million. In comparison, last year the company had a net profit of $109 million.
Based on the recent corporate insider activity of 19 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.
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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.
