Avon Products (AVP) Shares Gap Up to $2.31

Avon Products, Inc. (NYSE:AVP) shares gapped up prior to trading on Wednesday . The stock had previously closed at $2.28, but opened at $2.31. Avon Products shares last traded at $2.25, with a volume of 1489063 shares.

A number of research firms recently commented on AVP. Zacks Investment Research raised Avon Products from a “strong sell” rating to a “hold” rating in a report on Monday, January 8th. Bank of America cut Avon Products from a “neutral” rating to an “underperform” rating and lowered their price target for the stock from $3.00 to $2.50 in a report on Thursday, January 4th. ValuEngine raised Avon Products from a “sell” rating to a “hold” rating in a research note on Friday, December 1st. DA Davidson reaffirmed a “buy” rating and issued a $2.00 price objective on shares of Avon Products in a research note on Monday, November 20th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $3.00 price objective on shares of Avon Products in a research note on Friday, November 3rd. Three equities research 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’s stock. Avon Products has a consensus rating of “Hold” and a consensus price target of $2.86.

The company has a current ratio of 1.42, a quick ratio of 0.97 and a debt-to-equity ratio of -2.31.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Yacktman Asset Management LP increased its position in shares of Avon Products by 2.7% during the 4th quarter. Yacktman Asset Management LP now owns 19,641,467 shares of the company’s stock valued at $42,229,000 after purchasing an additional 509,083 shares during the last quarter. Shah Capital Management increased its position in shares of Avon Products by 15.1% during the 4th quarter. Shah Capital Management now owns 8,014,702 shares of the company’s stock valued at $17,231,000 after purchasing an additional 1,052,412 shares during the last quarter. Investec Asset Management LTD increased its position in shares of Avon Products by 11.3% during the 3rd quarter. Investec Asset Management LTD now owns 8,010,850 shares of the company’s stock valued at $18,665,000 after purchasing an additional 811,514 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Avon Products by 2.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 7,899,310 shares of the company’s stock valued at $18,406,000 after purchasing an additional 193,839 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D increased its position in shares of Avon Products by 3.4% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 6,000,000 shares of the company’s stock valued at $13,980,000 after purchasing an additional 200,000 shares during the last quarter. 83.08% 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).

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