In a report released today, Joe Lachky from Wells Fargo maintained a Hold rating on Coty Inc (COTY). The company’s shares opened today at $13.53, close to its 52-week high of $14.46.
Lachky noted:
“We expect fundamentals to remain choppy given the ongoing challenges in Consumer Beauty and maintain our Market Perform rating.”
Coty Inc has an analyst consensus of Hold, with a price target consensus of $12.25, representing a -9.5% downside. In a report issued on June 26, D.A. Davidson also reiterated a Hold rating on the stock with a $11 price target.
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Based on Coty Inc’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $12.1 million. In comparison, last year the company had a GAAP net loss of $181 million.
Based on the recent corporate insider activity of 26 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.
