Coty Inc. [NYSE: COTY] gained 0.60% or 0.07 points to close at $11.78 with a heavy trading volume of 3904271 shares. The company report on March 15, 2023 that Coty Raises FY23 Revenue Outlook at Bank of America Consumer & Retail Conference.
Coty (NYSE: COTY), one of the world’s largest beauty companies with a portfolio of iconic brands across fragrance, color cosmetics, and skin and body care, is pleased to confirm that Chief Financial Officer Laurent Mercier will present at the 2023 Bank of America Consumer & Retail Conference on Wednesday, March 15 at 8:00 A.M. EST or 1:00 P.M. CET.
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Coty will provide perspectives on the current beauty market, its financial progress and future growth opportunities. Coty will share that its fiscal Q3 core LFL sales growth is tracking at +10%, reflecting an acceleration from the +7% core LFL sales growth in Q2. As a result, Coty now expects its FY23 core LFL sales growth to be at the upper end of its prior guidance of 6-8% core LFL sales growth. Coty will reiterate its FY23 outlook, including its adjusted gross margin, adjusted EBITDA and adjusted EPS guidance, as the company intends to reinvest incremental profit into its critical skincare initiatives and recent launches.
It opened the trading session at $11.72, the shares rose to $11.83 and dropped to $11.685, the range by which the price of stock traded the whole day. The daily chart for COTY points out that the company has recorded 65.92% gains over the past six months. However, it is still -99.66% lower than its most recent low trading price.
If we look at the average trading volume of 6.23M shares, COTY reached to a volume of 3904271 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Coty Inc. [COTY]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for COTY shares is $12.02 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on COTY stock is a recommendation set at 2.40. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Citigroup have made an estimate for Coty Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on February 17, 2023. While these analysts kept the previous recommendation, Piper Sandler dropped their target price from $8 to $10. The new note on the price target was released on January 03, 2023, representing the official price target for Coty Inc. stock. Previously, the target price had yet another raise from $9 to $10, while Piper Sandler kept a Neutral rating on COTY stock.
The Average True Range (ATR) for Coty Inc. is set at 0.30, with the Price to Sales ratio for COTY stock in the period of the last 12 months amounting to 1.88. The Price to Book ratio for the last quarter was 2.84, with the Price to Cash per share for the same quarter was set at 0.33. Price to Free Cash Flow for COTY in the course of the last twelve months was 22.15 with Quick ratio for the last quarter at 0.40.
Trading performance analysis for COTY stock
Coty Inc. [COTY] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 4.34. With this latest performance, COTY shares gained by 5.08% in over the last four-week period, additionally plugging by 65.92% over the last 6 months – not to mention a rise of 32.06% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for COTY stock in for the last two-week period is set at 66.75, with the RSI for the last a single of trading hit 70.73, and the three-weeks RSI is set at 65.55 for Coty Inc. [COTY]. The present Moving Average for the last 50 days of trading for this stock 10.74, while it was recorded at 11.55 for the last single week of trading, and 8.35 for the last 200 days.
Coty Inc. [COTY]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and Coty Inc. [COTY] shares currently have an operating margin of +5.26 and a Gross Margin at +59.58. Coty Inc.’s Net Margin is presently recorded at +4.78.
Return on Total Capital for COTY is now 3.05, given the latest momentum, and Return on Invested Capital for the company is 2.89. Return on Equity for this stock inclined to 8.44, with Return on Assets sitting at 1.97. When it comes to the capital structure of this company, Coty Inc. [COTY] has a Total Debt to Total Equity ratio set at 156.11. Additionally, COTY Total Debt to Total Capital is recorded at 60.95, with Total Debt to Total Assets ending up at 40.64. Long-Term Debt to Equity for the company is recorded at 153.23, with the Long-Term Debt to Total Capital now at 59.83.
Reflecting on the efficiency of the workforce at the company, Coty Inc. [COTY] managed to generate an average of $23,048 per employee. Receivables Turnover for the company is 14.89 with a Total Asset Turnover recorded at a value of 0.41.Coty Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.40 and a Current Ratio set at 0.70.
Coty Inc. [COTY]: An earnings per share (EPS) analysis
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for COTY. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Coty Inc. go to 23.00%.
An analysis of insider ownership at Coty Inc. [COTY]
There are presently around $4,102 million, or 37.80% of COTY stock, in the hands of institutional investors. The top three institutional holders of COTY stocks are: BLACKROCK INC. with ownership of 53,612,314, which is approximately 2.495% of the company’s market cap and around 2.80% of the total institutional ownership; VANGUARD GROUP INC, holding 36,353,621 shares of the stock with an approximate value of $425.7 million in COTY stocks shares; and MELVIN CAPITAL MANAGEMENT LP, currently with $344.3 million in COTY stock with ownership of nearly -29.994% of the company’s market capitalization.
Positions in Coty Inc. stocks held by institutional investors increased at the end of Wednesday and at the time of the Wednesday reporting period, where 165 institutional holders increased their position in Coty Inc. [NYSE:COTY] by around 35,236,441 shares. Additionally, 145 investors decreased positions by around 42,827,634 shares, while 43 investors held positions by with 272,275,502 shares. The mentioned changes placed institutional holdings at 350,339,577 shares, according to the latest SEC report filing. COTY stock had 55 new institutional investments in for a total of 3,142,871 shares, while 40 institutional investors sold positions of 4,085,953 shares during the same period.