Avon Products (AVP) Downgraded by ValuEngine to “Hold”

Avon Products (NYSE:AVP) was downgraded by ValuEngine from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.

AVP has been the topic of several other research reports. Zacks Investment Research raised Avon Products from a “sell” rating to a “hold” rating in a research note on Wednesday, September 19th. DA Davidson raised Avon Products from a “neutral” rating to a “buy” rating and increased their target price for the stock from $1.75 to $3.50 in a research note on Monday, September 24th. Finally, Jefferies Financial Group raised Avon Products from an “underperform” rating to a “hold” rating and set a $1.75 target price on the stock in a research note on Wednesday, July 18th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $2.68.

Shares of NYSE AVP traded down $0.08 during mid-day trading on Thursday, reaching $1.88. 5,945,600 shares of the company’s stock were exchanged, compared to its average volume of 5,238,802. The stock has a market cap of $858.15 million, a PE ratio of 31.33, a P/E/G ratio of 2.07 and a beta of 1.28. Avon Products has a 52-week low of $1.38 and a 52-week high of $2.99.

Avon Products (NYSE:AVP) last released its quarterly earnings results on Thursday, August 2nd. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.04). Avon Products had a negative return on equity of 9.10% and a net margin of 0.83%. The business had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.39 billion. During the same quarter in the prior year, the company posted ($0.03) earnings per share. The business’s revenue for the quarter was down 3.2% compared to the same quarter last year. Analysts expect that Avon Products will post 0.06 EPS for the current fiscal year.

In other news, Director James A. Mitarotonda bought 100,000 shares of the firm’s stock in a transaction that occurred on Monday, August 13th. The shares were purchased at an average price of $1.69 per share, with a total value of $169,000.00. Following the purchase, the director now owns 8,333 shares in the company, valued at $14,082.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James A. Mitarotonda bought 500,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 9th. The shares were purchased at an average cost of $1.82 per share, for a total transaction of $910,000.00. Following the purchase, the director now owns 8,333 shares in the company, valued at approximately $15,166.06. The disclosure for this purchase can be found here. 0.72% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of AVP. Northern Trust Corp raised its position in Avon Products by 1.6% in the 2nd quarter. Northern Trust Corp now owns 1,791,071 shares of the company’s stock valued at $2,901,000 after purchasing an additional 27,897 shares in the last quarter. Macquarie Group Ltd. raised its position in Avon Products by 10.3% in the 2nd quarter. Macquarie Group Ltd. now owns 365,900 shares of the company’s stock valued at $593,000 after purchasing an additional 34,300 shares in the last quarter. CIBC World Markets Inc. acquired a new stake in Avon Products in the 1st quarter valued at about $111,000. NJ State Employees Deferred Compensation Plan raised its position in Avon Products by 22.9% in the 2nd quarter. NJ State Employees Deferred Compensation Plan now owns 215,000 shares of the company’s stock valued at $348,000 after purchasing an additional 40,000 shares in the last quarter. Finally, Legal & General Group Plc raised its position in Avon Products by 3.3% in the 2nd quarter. Legal & General Group Plc now owns 1,625,669 shares of the company’s stock valued at $2,635,000 after purchasing an additional 51,803 shares in the last quarter. 77.03% of the stock is currently owned by hedge funds and other institutional investors.

About Avon Products

Avon Products, Inc manufactures and markets beauty and related products in Europe, the Middle East, Africa, south Latin America, north Latin America, and the Asia Pacific. The company offers beauty products, including skincare, fragrance, and color cosmetics; and fashion and home products, such as fashion jewelry, watches, apparel, footwear, accessories, gift and decorative products, housewares, entertainment and leisure products, children's products, and nutritional products.

Read More: Book Value Per Share – BVPS

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Analyst Recommendations for Avon Products (NYSE:AVP)

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