Sunday, October 24, 2021

Should You Buy the Dip in Coty?

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Stock Markets44 minutes ago (Sep 28, 2021 12:30PM ET)

(C) Reuters. Should You Buy the Dip in Coty?

Beauty products retailer Coty (NYSE:COTY) is among the world’s leading beauty and fragrance companies. The company has secured a strong foothold in the industry, with disruptive product and service offerings. However, its shares have tumbled recently. Given the company’s mixed financials and stretched valuation, can the stock recover in the near term? Read more to find out.Incorporated in 1904, Coty Inc . (COTY) is one of the leading beauty companies in the world, with a well-known portfolio of fragrance, color cosmetics, and skin and body care brands. The company is a global leader in fragrance and ranks third in color cosmetics. COTY’s stock has gained 200% over the past year and 15.4% year-to-date to close yesterday’s trading session at $8.10. Its robust top-line growth and progress across all business segments, fueled by major product launches, have driven its share price so far this year.

However, the stock has retreated 16% over the past month. Though the company is adopting digital options, from advertising to e-commerce platforms, to keep up with the changing preferences of consumers and drive its growth, its stretched valuation could cause its shares to retreat further.

Here’s what could shape COTY’s performance in the near term:

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Should You Buy the Dip in Coty?

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