Avon Products’ (AVP) “Buy” Rating Reaffirmed at Jefferies Group LLC
Jefferies Group LLC reaffirmed their buy rating on shares of Avon Products, Inc. (NYSE:AVP) in a research note issued to investors on Thursday morning. They currently have a $8.00 target price on the stock.
A number of other equities analysts also recently weighed in on AVP. B. Riley reaffirmed a neutral rating and set a $7.00 price target on shares of Avon Products in a research note on Saturday, November 12th. Zacks Investment Research raised shares of Avon Products from a strong sell rating to a hold rating in a research note on Wednesday, February 1st. Finally, RBC Capital Markets set a $4.00 price target on shares of Avon Products and gave the stock a hold rating in a research note on Tuesday, January 3rd. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average price target of $7.36.
Avon Products (NYSE:AVP) opened at 4.77 on Thursday. Avon Products has a 52 week low of $3.47 and a 52 week high of $6.96. The firm’s market cap is $2.09 billion. The company’s 50 day moving average is $5.55 and its 200-day moving average is $5.65.
Avon Products (NYSE:AVP) last posted its quarterly earnings results on Thursday, February 16th. The company reported $0.01 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.09 by $0.08. The company had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.62 billion. Avon Products had a negative return on equity of 2.30% and a negative net margin of 7.59%. The firm’s quarterly revenue was down 2.4% compared to the same quarter last year. Equities analysts expect that Avon Products will post $0.12 earnings per share for the current year.
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In other news, insider Fernando Acosta sold 85,198 shares of the firm’s stock in a transaction on Friday, December 30th. The shares were sold at an average price of $5.06, for a total value of $431,101.88. Following the transaction, the insider now owns 263,650 shares of the company’s stock, valued at approximately $1,334,069. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Jose Armario bought 18,215 shares of the business’s stock in a transaction dated Monday, November 21st. The stock was acquired at an average cost of $5.50 per share, for a total transaction of $100,182.50. Following the purchase, the director now owns 18,215 shares in the company, valued at approximately $100,182.50. The disclosure for this purchase can be found here. Company insiders own 0.80% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Engineers Gate Manager LP acquired a new position in shares of Avon Products during the third quarter worth approximately $2,918,000. Bank of New York Mellon Corp increased its position in shares of Avon Products by 120.4% in the third quarter. Bank of New York Mellon Corp now owns 9,879,631 shares of the company’s stock worth $55,918,000 after buying an additional 5,397,542 shares in the last quarter. BlackRock Advisors LLC increased its position in shares of Avon Products by 88.2% in the third quarter. BlackRock Advisors LLC now owns 386,788 shares of the company’s stock worth $2,189,000 after buying an additional 181,255 shares in the last quarter. Canada Pension Plan Investment Board increased its position in shares of Avon Products by 58.6% in the third quarter. Canada Pension Plan Investment Board now owns 489,610 shares of the company’s stock worth $2,771,000 after buying an additional 180,900 shares in the last quarter. Finally, BlackRock Fund Advisors increased its position in shares of Avon Products by 6.1% in the third quarter. BlackRock Fund Advisors now owns 23,303,509 shares of the company’s stock worth $131,898,000 after buying an additional 1,343,531 shares in the last quarter. 89.26% of the stock is currently owned by institutional investors and hedge funds.
About Avon Products
Avon Products, Inc is a manufacturer and marketer of beauty and related products. The Company’s product categories are Beauty, and Fashion and Home. Beauty consists of skincare (which includes personal care), fragrance and color (cosmetics). Fashion and Home consists of fashion jewelry, watches, apparel, footwear, accessories, gift and decorative products, housewares, entertainment and leisure products, children’s products and nutritional products.
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