Avon Products, Inc. (NYSE:AVP) shares traded down 9.4% during mid-day trading on Tuesday . The company traded as low as $2.09 and last traded at $2.11. 10,240,100 shares changed hands during mid-day trading, an increase of 88% from the average session volume of 5,450,780 shares. The stock had previously closed at $2.33.

A number of research analysts have recently issued reports on the company. ValuEngine raised Avon Products from a “hold” rating to a “buy” rating in a report on Tuesday, September 18th. Zacks Investment Research raised Avon Products from a “sell” rating to a “hold” rating in a report on Wednesday, September 19th. DA Davidson raised Avon Products from a “neutral” rating to a “buy” rating and boosted their target price for the company from $1.75 to $3.50 in a report on Monday. Finally, Jefferies Financial Group raised Avon Products from an “underperform” rating to a “hold” rating and set a $1.75 target price on the stock in a report on Wednesday, July 18th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company’s stock. Avon Products presently has an average rating of “Hold” and an average price target of $2.66.

The firm has a market capitalization of $1.08 billion, a price-to-earnings ratio of 35.17, a price-to-earnings-growth ratio of 2.17 and a beta of 1.31. The company has a debt-to-equity ratio of -1.79, a current ratio of 1.29 and a quick ratio of 0.81.

Avon Products (NYSE:AVP) last announced its quarterly earnings data on Thursday, August 2nd. The company reported ($0.03) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.01 by ($0.04). Avon Products had a negative return on equity of 9.10% and a net margin of 0.83%. The business had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same period in the prior year, the company earned ($0.03) EPS. The company’s revenue was down 3.2% on a year-over-year basis. research analysts predict that Avon Products, Inc. will post 0.09 earnings per share for the current fiscal year.

In other Avon Products news, Director James A. Mitarotonda acquired 500,000 shares of the company’s stock in a transaction that occurred on Thursday, August 9th. The shares were purchased at an average price of $1.82 per share, with a total value of $910,000.00. Following the completion of the acquisition, the director now directly owns 8,333 shares of the company’s stock, valued at approximately $15,166.06. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director James A. Mitarotonda acquired 100,000 shares of the company’s stock in a transaction that occurred on Monday, August 13th. The shares were acquired at an average cost of $1.69 per share, for a total transaction of $169,000.00. Following the acquisition, the director now directly owns 8,333 shares of the company’s stock, valued at $14,082.77. The disclosure for this purchase can be found here. Corporate insiders own 0.72% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. BlackRock Inc. boosted its position in Avon Products by 8.5% during the second quarter. BlackRock Inc. now owns 41,350,428 shares of the company’s stock worth $66,988,000 after purchasing an additional 3,228,492 shares in the last quarter. Investec Asset Management LTD boosted its position in Avon Products by 104.9% during the second quarter. Investec Asset Management LTD now owns 13,295,042 shares of the company’s stock worth $21,538,000 after purchasing an additional 6,805,784 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Avon Products by 7.2% during the second quarter. Dimensional Fund Advisors LP now owns 10,590,923 shares of the company’s stock worth $17,157,000 after purchasing an additional 708,191 shares in the last quarter. Shah Capital Management boosted its position in Avon Products by 11.9% during the second quarter. Shah Capital Management now owns 9,456,750 shares of the company’s stock worth $15,319,000 after purchasing an additional 1,002,048 shares in the last quarter. Finally, Millennium Management LLC boosted its position in Avon Products by 97.2% during the second quarter. Millennium Management LLC now owns 8,251,494 shares of the company’s stock worth $13,367,000 after purchasing an additional 4,066,931 shares in the last quarter. 77.16% of the stock is currently owned by hedge funds and other institutional investors.

About Avon Products (NYSE:AVP)

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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