In a report released yesterday, Nik Modi from RBC Capital maintained a Buy rating on Coty (COTY), with a price target of $8.00. The company’s shares closed last Wednesday at $3.75, close to its 52-week low of $3.02.
According to TipRanks.com, Modi is a 4-star analyst with an average return of 4.4% and a 61.3% success rate. Modi covers the Consumer Goods sector, focusing on stocks such as The Estée Lauder Companies, Spectrum Brands Holdings, and Edgewell Personal Care.
Coty has an analyst consensus of Hold, with a price target consensus of $5.94.
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Based on Coty’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $2.35 billion and GAAP net loss of $21.1 million. In comparison, last year the company earned revenue of $2.51 billion and had a GAAP net loss of $961 million.
Based on the recent corporate insider activity of 33 insiders, corporate insider sentiment is neutral on the stock.
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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. The Luxury segment comprises of prestige fragrances, premium skincare, and premium cosmetics. The Professional Beauty segment consists hair and nail care products for salon professionals. The company was founded by Francois Coty in 1904 and is headquartered in New York, NY.
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