Investment analysts at Jefferies Group LLC initiated coverage on shares of Avon Products, Inc. (NYSE:AVP) in a research note issued to investors on Wednesday. The brokerage set an “underperform” rating and a $2.20 price target on the stock. Jefferies Group LLC’s price objective points to a potential downside of 14.73% from the stock’s current price.
A number of other equities research analysts have also recently commented on AVP. Zacks Investment Research cut shares of Avon Products from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 9th. Stifel Nicolaus reissued a “hold” rating and issued a $4.00 price objective (down from $4.50) on shares of Avon Products in a research note on Wednesday, August 9th. UBS AG lowered their price objective on shares of Avon Products from $3.50 to $2.75 and set a “sell” rating on the stock in a research note on Friday, August 4th. Royal Bank Of Canada lowered their price objective on shares of Avon Products from $4.00 to $3.00 and set a “sector perform” rating on the stock in a research note on Friday, August 4th. Finally, ValuEngine cut shares of Avon Products from a “hold” rating to a “sell” rating in a research note on Friday, August 4th. Four analysts have rated the stock with a sell rating and five have given a hold rating to the stock. The company has an average rating of “Hold” and an average target price of $3.71.
Shares of Avon Products (NYSE:AVP) opened at 2.58 on Wednesday. The firm’s market cap is $1.14 billion. The stock has a 50 day moving average of $2.89 and a 200 day moving average of $3.71. Avon Products has a 12 month low of $2.40 and a 12 month high of $6.96.
Avon Products (NYSE:AVP) last posted its quarterly earnings results on Thursday, August 3rd. The company reported ($0.03) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.07 by ($0.10). Avon Products had a negative return on equity of 3.68% and a negative net margin of 0.99%. The company had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.44 billion. During the same period last year, the company earned $0.07 earnings per share. The business’s revenue for the quarter was down 2.7% compared to the same quarter last year. On average, equities research analysts expect that Avon Products will post $0.16 EPS for the current fiscal year.
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Large investors have recently added to or reduced their stakes in the business. Ruffer LLP purchased a new position in Avon Products in the 1st quarter valued at about $218,000. Vanguard Group Inc. lifted its holdings in Avon Products by 3.9% in the 1st quarter. Vanguard Group Inc. now owns 40,109,692 shares of the company’s stock valued at $176,482,000 after purchasing an additional 1,495,063 shares in the last quarter. Retirement Systems of Alabama lifted its holdings in Avon Products by 0.5% in the 2nd quarter. Retirement Systems of Alabama now owns 567,032 shares of the company’s stock valued at $2,155,000 after purchasing an additional 2,854 shares in the last quarter. Acrospire Investment Management LLC lifted its holdings in Avon Products by 33.7% in the 1st 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. Finally, Dynamic Capital Management Ltd lifted its holdings in Avon Products by 565.6% in the 1st quarter. Dynamic Capital Management Ltd now owns 185,384 shares of the company’s stock valued at $816,000 after purchasing an additional 157,531 shares in the last quarter. Institutional investors own 84.24% of the company’s stock.
About Avon Products
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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