Avon Products (AVP) Downgraded to “Underperform” at Bank of America

Avon Products (NYSE:AVP) was downgraded by investment analysts at Bank of America from a “neutral” rating to an “underperform” rating in a note issued to investors on Thursday, MarketBeat reports. They presently have a $2.50 price objective on the stock, down from their prior price objective of $3.00. Bank of America’s target price indicates a potential upside of 12.61% from the stock’s current price.

A number of other brokerages have also recently issued reports on AVP. Jefferies Group began coverage on shares of Avon Products in a research note on Wednesday, September 13th. They issued an “underperform” rating and a $2.20 price objective on the stock. Royal Bank of Canada reissued a “hold” rating and issued a $3.00 price objective on shares of Avon Products in a research note on Friday, October 13th. Zacks Investment Research raised shares of Avon Products from a “hold” rating to a “buy” rating and set a $2.50 price objective on the stock in a research note on Monday, October 23rd. ValuEngine raised shares of Avon Products from a “sell” rating to a “hold” rating in a research note on Friday, December 1st. Finally, DA Davidson reaffirmed a “hold” rating and set a $2.00 target price on shares of Avon Products in a research note on Tuesday, November 7th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $2.92.

Avon Products (NYSE AVP) opened at $2.22 on Thursday. The stock has a market cap of $952.60, a P/E ratio of -9.65, a P/E/G ratio of 2.37 and a beta of 1.81. The company has a debt-to-equity ratio of -2.31, a current ratio of 1.42 and a quick ratio of 0.97. Avon Products has a one year low of $1.85 and a one year high of $6.03.

Avon Products (NYSE:AVP) last announced its quarterly earnings data on Thursday, November 2nd. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.04). The company had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.41 billion. Avon Products’s revenue was up .7% compared to the same quarter last year. During the same quarter last year, the business earned $0.02 earnings per share. equities analysts anticipate that Avon Products will post -0.03 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Alpine Global Management LLC bought a new stake in shares of Avon Products during the second quarter worth $100,000. Shelton Capital Management bought a new stake in shares of Avon Products during the second quarter worth $122,000. PEAK6 Investments L.P. bought a new stake in shares of Avon Products during the third quarter worth $139,000. Bank of Montreal Can grew its stake in shares of Avon Products by 5.7% during the second quarter. Bank of Montreal Can now owns 40,376 shares of the company’s stock worth $153,000 after buying an additional 2,165 shares during the last quarter. Finally, Schroder Investment Management Group bought a new stake in shares of Avon Products during the third quarter worth $156,000. 82.38% of the stock is currently owned by hedge funds and other institutional investors.

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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).

Analyst Recommendations for Avon Products (NYSE:AVP)

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