The New York-based beauty products company will replace Diamond Offshore Drilling (DO).
The drilling services company will join the S&P MidCap 400, replacing Polycom (PLCM). Siris Capital acquired Polycom in a deal completed yesterday.
"Diamond Offshore Drilling is ranked at the bottom of the S&P 500 and has a market capitalization more representative of the mid-cap market space," S&P Dow Jones Indices said in a statement late yesterday.
More than 15.05 million of Coty's shares changed hands so far today vs. its average 30-day volume of 3.76 million shares per day.
Separately, TheStreet Ratings Team has a "Hold" rating with a score of C on the stock.
The primary factors that have impacted the rating are mixed. The company's strengths can be seen in multiple areas, such as its revenue growth, notable return on equity and expanding profit margins.
But the team also finds weaknesses including a generally disappointing performance in the stock itself, deteriorating net income and generally higher debt management risk.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: COTY