Coty Inc. (NYSE:COTY) hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $15.55 and last traded at $15.60, with a volume of 5,092,714 shares. The stock had previously closed at $16.00.
Several equities research analysts recently issued reports on the company. DA Davidson assumed coverage on Coty in a research note on Tuesday. They issued a “neutral” rating and a $17.50 price objective for the company. KeyCorp reaffirmed a “hold” rating on shares of Coty in a research note on Monday. BMO Capital Markets reaffirmed a “buy” rating and set a $24.00 price target on shares of Coty in a research note on Thursday, October 5th. Berenberg Bank downgraded Coty from a “hold” rating to a “sell” rating and cut their price target for the stock from $17.50 to $15.00 in a research note on Wednesday, August 30th. Finally, Zacks Investment Research downgraded Coty from a “hold” rating to a “sell” rating in a research note on Friday, August 25th. Five investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $19.86.
The company’s 50-day moving average price is $16.57 and its 200 day moving average price is $18.14. The company’s market cap is $11.85 billion.
In other Coty news, CEO Camillo Pane acquired 48,485 shares of the company’s stock in a transaction on Thursday, August 24th. The shares were purchased at an average price of $16.50 per share, for a total transaction of $800,002.50. Following the completion of the purchase, the chief executive officer now directly owns 336,142 shares of the company’s stock, valued at $5,546,343. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Ayesha Zafar acquired 21,570 shares of the company’s stock in a transaction on Wednesday, September 13th. The stock was acquired at an average price of $17.11 per share, for a total transaction of $369,062.70. Following the purchase, the senior vice president now directly owns 10,000 shares of the company’s stock, valued at $171,100. The disclosure for this purchase can be found here. Insiders have purchased 2,979,505 shares of company stock worth $48,661,242 in the last quarter. 1.00% of the stock is currently owned by corporate insiders.
Coty Inc is a beauty company. The Company operates through four segments: Fragrances, Color Cosmetics, Skin & Body Care and Brazil Acquisition. Its fragrance products include a range of men’s and women’s products. Its fragrance brands include Calvin Klein, Marc Jacobs, Davidoff, Chloe, Balenciaga, Beyonce, Bottega Veneta, Miu Miu and Roberto Cavalli.
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