Shares of Avon Products, Inc. (NYSE:AVP) have received a consensus recommendation of “Hold” from the eight research firms that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $2.63.
AVP has been the subject of several research reports. DA Davidson upgraded Avon Products from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $1.75 to $3.50 in a research report on Monday, September 24th. Zacks Investment Research upgraded Avon Products from a “sell” rating to a “hold” rating in a research report on Wednesday, September 19th. ValuEngine upgraded Avon Products from a “hold” rating to a “buy” rating in a research report on Friday, August 17th. Finally, Jefferies Financial Group upgraded Avon Products from an “underperform” rating to a “hold” rating and set a $1.75 price target for the company in a research report on Wednesday, July 18th.
In related news, Director James A. Mitarotonda acquired 500,000 shares of the stock in a transaction on Thursday, August 9th. The shares were bought at an average price of $1.82 per share, with a total value of $910,000.00. Following the completion of the purchase, the director now owns 8,333 shares of the company’s stock, valued at approximately $15,166.06. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James A. Mitarotonda acquired 100,000 shares of the stock in a transaction on Monday, August 13th. The shares were bought at an average cost of $1.69 per share, for a total transaction of $169,000.00. Following the purchase, the director now directly owns 8,333 shares of the company’s stock, valued at approximately $14,082.77. The disclosure for this purchase can be found here. Insiders own 0.72% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AVP. Investec Asset Management LTD lifted its stake in shares of Avon Products by 104.9% in the 2nd quarter. Investec Asset Management LTD now owns 13,295,042 shares of the company’s stock valued at $21,538,000 after purchasing an additional 6,805,784 shares during the last quarter. Millennium Management LLC lifted its stake in shares of Avon Products by 97.2% in the 2nd quarter. Millennium Management LLC now owns 8,251,494 shares of the company’s stock valued at $13,367,000 after purchasing an additional 4,066,931 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Avon Products by 8.5% in the 2nd quarter. BlackRock Inc. now owns 41,350,428 shares of the company’s stock valued at $66,988,000 after purchasing an additional 3,228,492 shares during the last quarter. General American Investors Co. Inc. acquired a new position in shares of Avon Products in the 3rd quarter valued at $5,247,000. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Avon Products by 20.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 9,882,732 shares of the company’s stock valued at $28,067,000 after purchasing an additional 1,705,275 shares during the last quarter. 77.76% of the stock is currently owned by institutional investors.
Shares of AVP opened at $1.92 on Monday. Avon Products has a one year low of $1.38 and a one year high of $2.99. The company has a market cap of $849.30 million, a P/E ratio of 32.00, a PEG ratio of 2.05 and a beta of 1.38.
Avon Products (NYSE:AVP) last issued its quarterly earnings results on Thursday, November 1st. The company reported $0.02 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.01. Avon Products had a negative return on equity of 7.67% and a net margin of 2.61%. The firm had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same period in the previous year, the business earned $0.03 earnings per share. The firm’s revenue for the quarter was up .5% on a year-over-year basis. As a group, analysts predict that Avon Products will post 0.06 EPS for the current fiscal year.
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.
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