Avon Products, Inc. (AVP) Shares Up 6.5%
Avon Products, Inc. (NYSE:AVP)’s share price shot up 6.5% during trading on Wednesday . The company traded as high as $2.65 and last traded at $2.64. 5,499,320 shares traded hands during trading, a decline of 12% from the average session volume of 6,263,580 shares. The stock had previously closed at $2.48.
A number of brokerages recently commented on AVP. Zacks Investment Research upgraded shares of Avon Products from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 5th. UBS AG lowered their target price on shares of Avon Products from $3.50 to $2.75 and set a “sell” rating for the company in a research note on Friday, August 4th. ValuEngine downgraded shares of Avon Products from a “hold” rating to a “sell” rating in a research note on Friday, June 2nd. DA Davidson began coverage on shares of Avon Products in a research note on Thursday, July 6th. They set a “neutral” rating and a $4.25 target price for the company. Finally, Royal Bank Of Canada lowered their target price on shares of Avon Products from $4.00 to $3.00 and set a “sector perform” rating for the company in a research note on Friday, August 4th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $4.44.
The company’s market capitalization is $1.14 billion. The stock’s 50-day moving average is $2.95 and its 200-day moving average is $3.74.
Avon Products (NYSE:AVP) last released its quarterly earnings results on Thursday, August 3rd. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.07 by $0.10. Avon Products had a negative net margin of 0.99% and a negative return on equity of 3.68%. The firm had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.44 billion. During the same quarter in the prior year, the firm earned $0.07 EPS. The firm’s revenue was down 2.7% compared to the same quarter last year. Analysts forecast that Avon Products, Inc. will post $0.16 EPS for the current fiscal year.
A number of institutional investors and hedge funds have recently made changes to their positions in AVP. Two Sigma Securities LLC grew its position in Avon Products by 1.9% during the first quarter. Two Sigma Securities LLC now owns 22,824 shares of the company’s stock valued at $100,000 after purchasing an additional 420 shares in the last quarter. Alpine Global Management LLC purchased a new position in Avon Products during the second quarter valued at approximately $100,000. Acrospire Investment Management LLC grew its position in Avon Products by 33.7% during the first quarter. Acrospire Investment Management LLC now owns 24,036 shares of the company’s stock valued at $106,000 after purchasing an additional 6,058 shares in the last quarter. Shelton Capital Management purchased a new position in Avon Products during the second quarter valued at approximately $122,000. Finally, Oakbrook Investments LLC grew its position in Avon Products by 2.5% during the second quarter. Oakbrook Investments LLC now owns 32,500 shares of the company’s stock valued at $124,000 after purchasing an additional 800 shares in the last quarter. 84.24% of the stock is currently owned by hedge funds and other institutional investors.
Avon Products Company Profile
Avon Products, Inc is a manufacturer and marketer of beauty and related products. The Company’s segments include Europe, Middle East & Africa; South Latin America; North Latin America, and Asia Pacific. Its product categories are Beauty, and Fashion and Home. Beauty consists of skincare (which includes personal care), fragrance and color (cosmetics).
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