Avon Products Inc. (AVP) Trading 4.4% Higher
Shares of Avon Products Inc. (NYSE:AVP) traded up 4.4% on Monday . The stock traded as high as $5.50 and last traded at $5.50, with a volume of 1,822,616 shares changing hands. The stock had previously closed at $5.27.
Several analysts recently weighed in on the stock. B. Riley reiterated a “neutral” rating and issued a $5.25 target price on shares of Avon Products in a report on Tuesday, August 9th. Deutsche Bank AG lifted their target price on shares of Avon Products from $7.00 to $8.00 and gave the company a “buy” rating in a report on Wednesday, August 3rd. Zacks Investment Research upgraded shares of Avon Products from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 3rd. Piper Jaffray Cos. reiterated a “neutral” rating and issued a $4.00 target price on shares of Avon Products in a report on Thursday, July 14th. Finally, Jefferies Group assumed coverage on shares of Avon Products in a report on Friday, June 3rd. They issued a “buy” rating and a $7.00 target price for the company. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Avon Products currently has an average rating of “Buy” and a consensus price target of $7.54.
The stock’s market capitalization is $2.38 billion. The stock has a 50 day moving average of $5.47 and a 200-day moving average of $4.55.
Avon Products (NYSE:AVP) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.04. Avon Products had a negative net margin of 19.45% and a negative return on equity of 3.13%. The business had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter in the prior year, the firm posted $0.11 earnings per share. The company’s quarterly revenue was down 8.3% compared to the same quarter last year. Equities analysts anticipate that Avon Products Inc. will post $0.14 earnings per share for the current year.
In related news, insider John Higson purchased 10,000 shares of the company’s stock in a transaction that occurred on Thursday, August 11th. The stock was purchased at an average price of $5.20 per share, with a total value of $52,000.00. Following the completion of the transaction, the insider now owns 64,341 shares of the company’s stock, valued at approximately $334,573.20. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.80% of the company’s stock.
A number of institutional investors have recently modified their holdings of AVP. Vanguard Group Inc. raised its position in shares of Avon Products by 6.2% in the second quarter. Vanguard Group Inc. now owns 32,766,163 shares of the company’s stock valued at $123,855,000 after buying an additional 1,905,824 shares during the period. BlackRock Fund Advisors raised its position in shares of Avon Products by 53.5% in the second quarter. BlackRock Fund Advisors now owns 21,959,978 shares of the company’s stock valued at $83,009,000 after buying an additional 7,649,195 shares during the period. State Street Corp raised its position in shares of Avon Products by 22.7% in the second quarter. State Street Corp now owns 14,457,512 shares of the company’s stock valued at $54,646,000 after buying an additional 2,671,758 shares during the period. BlackRock Institutional Trust Company N.A. raised its position in shares of Avon Products by 5.0% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 13,579,326 shares of the company’s stock valued at $51,330,000 after buying an additional 650,351 shares during the period. Finally, Norges Bank bought a new position in shares of Avon Products during the fourth quarter valued at approximately $15,980,000. 88.27% of the stock is owned by hedge funds and other institutional investors.
About Avon Products
Avon Products, Inc is a manufacturer and marketer of beauty and related products. The Company’s product categories are Beauty, and Fashion and Home. Beauty consists of skincare (which includes personal care), fragrance and color (cosmetics). Fashion and Home consists of 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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