Coty Inc. (NYSE:COTY – Get Free Report) was the recipient of a large decrease in short interest during the month of November. As of November 15th, there was short interest totalling 21,070,000 shares, a decrease of 8.2% from the October 31st total of 22,940,000 shares. Currently, 5.7% of the shares of the company are short sold. Based on an average daily volume of 5,390,000 shares, the days-to-cover ratio is currently 3.9 days.

Coty Price Performance

Shares of COTY traded up $0.18 during mid-day trading on Friday, reaching $11.58. 4,145,780 shares of the company’s stock were exchanged, compared to its average volume of 4,506,056. The company has a quick ratio of 0.49, a current ratio of 0.79 and a debt-to-equity ratio of 1.05. Coty has a 52-week low of $7.72 and a 52-week high of $13.46. The company has a market cap of $10.33 billion, a price-to-earnings ratio of 27.57, a PEG ratio of 6.55 and a beta of 1.93. The company has a 50-day simple moving average of $10.33 and a two-hundred day simple moving average of $11.28.

Coty (NYSE:COTY – Get Free Report) last released its quarterly earnings results on Tuesday, November 7th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.08). The company had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.58 billion. Coty had a return on equity of 11.64% and a net margin of 6.57%. The business’s quarterly revenue was up 18.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.11 EPS. On average, sell-side analysts predict that Coty will post 0.39 EPS for the current fiscal year.

Coty announced that its board has approved a stock buyback program on Monday, November 13th that permits the company to repurchase $600.00 million in shares. This repurchase authorization permits the company to repurchase up to 7.1% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. TD Cowen assumed coverage on shares of Coty in a report on Tuesday, October 17th. They issued a “market perform” rating and a $11.00 target price on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $14.00 target price on shares of Coty in a research report on Wednesday, August 23rd. Barclays reduced their price target on Coty from $12.00 to $11.00 and set an “equal weight” rating for the company in a report on Thursday, October 12th. DA Davidson upped their price objective on Coty from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Wednesday, November 8th. Finally, Raymond James cut their price objective on Coty from $15.00 to $13.00 and set an “outperform” rating for the company in a research report on Monday, October 23rd. Nine analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $12.71.

Get Our Latest Stock Analysis on COTY

Insider Activity at Coty

In other Coty news, Director Maria Asunicion Aramburuzabala acquired 500,000 shares of the company’s stock in a transaction on Thursday, September 28th. The shares were bought at an average cost of $10.80 per share, for a total transaction of $5,400,000.00. Following the completion of the purchase, the director now owns 1,425,000 shares in the company, valued at approximately $15,390,000. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Maria Asunicion Aramburuzabala acquired 500,000 shares of the firm’s stock in a transaction on Thursday, September 28th. The stock was bought at an average cost of $10.80 per share, with a total value of $5,400,000.00. Following the transaction, the director now owns 1,425,000 shares of the company’s stock, valued at $15,390,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Isabelle Parize bought 20,500 shares of the company’s stock in a transaction dated Wednesday, October 4th. The stock was bought at an average cost of $10.29 per share, for a total transaction of $210,945.00. Following the acquisition, the director now owns 56,725 shares of the company’s stock, valued at approximately $583,700.25. The disclosure for this purchase can be found here. Insiders acquired a total of 3,525,275 shares of company stock worth $38,061,083 in the last 90 days. 5.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Bartlett & Co. LLC purchased a new stake in shares of Coty in the second quarter valued at $27,000. BluePath Capital Management LLC purchased a new stake in Coty in the 3rd quarter valued at about $29,000. DekaBank Deutsche Girozentrale acquired a new position in shares of Coty during the 3rd quarter valued at about $31,000. C M Bidwell & Associates Ltd. lifted its holdings in shares of Coty by 1,536.6% during the 2nd quarter. C M Bidwell & Associates Ltd. now owns 2,815 shares of the company’s stock worth $35,000 after acquiring an additional 2,643 shares during the period. Finally, Hanseatic Management Services Inc. purchased a new position in shares of Coty during the 2nd quarter worth about $37,000. 37.10% of the stock is currently owned by institutional investors and hedge funds.

About Coty (Get Free Report)

Coty Inc, together with its subsidiaries, manufactures, markets, distributes, and sells beauty products worldwide. It operates through Prestige and Consumer Beauty segments. The company provides fragrance, color cosmetics, and skin and body care products. It offers Prestige segment products primarily through prestige retailers, including perfumeries, department stores, e-retailers, direct-to-consumer websites, and duty-free shops under the Burberry, Calvin Klein, Chloe, Davidoff, Escada, Gucci, Hugo Boss, Jil Sander, Joop!, Kylie Jenner, Lancaster, Marc Jacobs, Miu Miu, Orveda, philosophy, SKKN BY KIM, and Tiffany & Co brands.

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Original: MarketBeat News Feed: Coty Inc. (NYSE:COTY) Short Interest Update