Coty Inc. (NYSE:COTY) is a prominent player in the cosmetics industry, owning well-known brands like CoverGirl, Rimmel, and Sally Hansen. Recently, Evercore ISI set a price target of $7 for COTY, suggesting a potential price increase of about 120% from its current price of $3.14. However, Evercore ISI also downgraded Coty shares from "Outperform" to "In Line," as highlighted by TheFly.
Coty is undergoing significant leadership changes, with Markus Strobel from Procter and Gamble set to become the executive chair and interim CEO. This transition follows the departure of CEO Sue Nabi after a five-year tenure. The company describes this leadership change as a "pivotal moment," as it faces challenges like macroeconomic uncertainty and higher tariffs, which have contributed to a decline in sales.
Coty's shares have lost over half their value since the start of the year, reflecting these difficulties. The current stock price of $3.14 marks a decrease of approximately 3.53%, with a decline of $0.115 today. During the trading day, the stock's price ranged from a low of $3.14 to a high of $3.27, indicating volatility in the market.
The company's market capitalization stands at approximately $2.74 billion, with a trading volume of 7,709,091 shares on the NYSE. Over the past year, COTY's stock has reached a high of $7.71 and a low of $3.12. These figures highlight the challenges Coty faces in maintaining investor confidence amid leadership changes and market uncertainties.
