The stock of Coty Inc. (NYSE:COTY) is now priced at $3.83 and the shares are 0.15 points up or 4.08% higher compared to its previous closing price of $3.68. The stock had 9.656 million contracts set over the past session. COTY shares’ daily volume is compared to its average trading volume at 19.03 million shares. However, it has a float of 286 million and although its performance was -5.9% over the week, it’s one to watch. Analysts have given the COTY stock a yearly average price target of $5.63 per share. It means the stock’s upside potential is 47% with the COTY share price recently placing at $3.605 to $3.915. However, some brokerage firms have priced the stock below the average, including one that has called $3.1.
The shorts are running away from the Coty Inc. stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the COTY shares have declined. Short interest in the stock represents just 6.72% of its float, but the volume has dropped by 0. The average intraday trading volume has been shares, which means that days to cover moved to roughly.
In the last trading session, Coty Inc. (NYSE:COTY) dropped by -$0.24 over the week and lost -$0.44 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $13.42. The stock recorded its established 52-week high on 11/06/19.
Since 03/18/20, the stock has traded to a low of $3.02 at 26.82%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 0.99. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Coty Inc.’s two-week RSI is 40.06. This suggests that the stock is neutral at the moment and that COTY shares’ price movement remains stable. The stochastic readings are equally revealing at 18.15% meaning the COTY share price is currently in overbought territory.
The technical chart shows that the COTY stock will likely settle at between $3.96 and $4.09 per share. However, if the stock dips below $3.65, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $3.47.
Currently, the stock is trading in the red of MACD, with a reading of -0.17. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Exane BNP Paribas cut their recommendation for COTY from Outperform to Neutral in May 13 review while maintai their target price of $5. DA Davidson analysts downgraded their recommendation of the stock from Buy to Neutral while keeping its target price at $6 in a flash note released to investors on April 27. DA Davidson seeing the improvements upgraded the stock from Neutral to Buy on March 23, placing it at $13 to $6.
The average rating for the COTY equity is 3 and is currently gathering a bullish momentum. Of 14 analysts tracking Coty Inc. polled by Reuters, 11 rated COTY as a hold. The remaining 3 analysts were split evenly. However, the split wasn’t equal as a majority (2) rated it as a buy or strong buy. 1 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the COTY stock price is 10.24X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands at 0 below the group’s average of 71.1. Coty Inc. has its P/E ratio at 0.8, which means that the stock is currently trading at a discount relative to the 9.1 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Coty Inc. (NYSE:COTY) will decrease by about -16.23%, which will see them reach $1280 million. The company’s full-year revenues are, however, expected to diminish by about -17.92%, down from $8650 million to $7100 million. COTY’s expected adjusted earnings should drop almost -175% to end up at -$0.12 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -78.46% to record $0.14/share.