Coty Inc (COTY) is Upgraded by BofA/Merrill to Buy

Coty Inc (COTY) was Upgraded by BofA/Merrill to ” Buy”. Earlier the firm had a rating of “Neutral ” on the company shares. BofA/Merrill advised their investors in a research report released on Oct 3, 2016.

Many Wall Street Analysts have commented on Coty Inc. Company shares were Upgraded by B. Riley & Co. on Sep 29, 2016 to ” Neutral”, Firm has raised the Price Target to $ 23.25 from a previous price target of $21.50 .Coty Inc was Initiated by Berenberg to “Sell” on Sep 9, 2016.

On the company’s financial health, Coty Inc reported $0.13 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on Aug 16, 2016. Analyst had a consensus of $0.06. The company had revenue of $1075.60 million for the quarter, compared to analysts expectations of $1050.32 million. The company’s revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.08 EPS.

Coty Inc opened for trading at $23.43 and hit $23.76 on the upside on Friday, eventually ending the session at $23.5, with a gain of 1.82% or 0.42 points. The heightened volatility saw the trading volume jump to 6,84,91,874 shares. Company has a market cap of $7,898 M.

In a different news, on Jul 13, 2016, Sebastien Froidefond (SVP of Human Resources) sold 3,983 shares at $27.02 per share price. According to the SEC, on Dec 10, 2015, Robert S Singer (director) sold 8,335 shares at $27.15 per share price. On Nov 24, 2015, Mario Reis (EVP, Supply Chain) purchased 10,000 shares at $28.07 per share price, according to the Form-4 filing with the securities and exchange commission.

Coty Inc. is a beauty company. The Company manufactures and markets beauty products in the Fragrances Color Cosmetics and Skin & Body Care segments with distribution in over 130 countries and territories across both prestige and mass markets. Fragrances products include a variety of men’s and women’s products and include fashion designer celebrity and lifestyle brands. Color Cosmetics products include nail and other color cosmetics consisting of lip eye and other facial color products. Skin & Body Care products include shower gels deodorants skin care and sun treatment products. The Company’s top 10 brands include adidas Calvin Klein Chloe Davidoff Marc Jacobs OPI philosophy Playboy Rimmel and Sally Hansen.

Coty Inc

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