Avon Products, Inc. (AVP) Given Average Rating of “Hold” by Brokerages
Avon Products, Inc. (NYSE:AVP) has received an average rating of “Hold” from the nine brokerages that are currently covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $4.32.
A number of research analysts have issued reports on AVP shares. Zacks Investment Research downgraded Avon Products from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 9th. Royal Bank Of Canada decreased their price target on Avon Products from $4.00 to $3.00 and set a “sector perform” rating for the company in a report on Friday, August 4th. Stifel Nicolaus reissued a “hold” rating on shares of Avon Products in a report on Thursday, August 3rd. Deutsche Bank AG reissued a “hold” rating and issued a $3.00 price target (down from $5.00) on shares of Avon Products in a report on Friday, August 4th. Finally, ValuEngine downgraded Avon Products from a “hold” rating to a “sell” rating in a report on Friday, August 4th.
Avon Products (NYSE AVP) opened at 2.77 on Friday. The firm’s 50-day moving average is $3.51 and its 200 day moving average is $4.14. Avon Products has a 1-year low of $2.70 and a 1-year high of $6.96. The company’s market cap is $1.22 billion.
Avon Products (NYSE:AVP) last released its earnings results on Thursday, August 3rd. The company reported ($0.03) EPS 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 firm had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.44 billion. During the same period last year, the firm earned $0.07 EPS. The company’s revenue for the quarter was down 2.7% compared to the same quarter last year. Analysts predict that Avon Products will post $0.16 earnings per share for the current fiscal year.
Several hedge funds have recently bought and sold shares of the stock. BlackRock Inc. boosted its stake in Avon Products by 14,920.7% in the first quarter. BlackRock Inc. now owns 46,294,214 shares of the company’s stock worth $203,696,000 after buying an additional 45,986,012 shares during the period. FMR LLC boosted its stake in Avon Products by 219.8% in the second quarter. FMR LLC now owns 29,804,223 shares of the company’s stock worth $113,256,000 after buying an additional 20,485,474 shares during the period. Bank of New York Mellon Corp boosted its stake in Avon Products by 44.7% in the first quarter. Bank of New York Mellon Corp now owns 18,164,379 shares of the company’s stock worth $79,923,000 after buying an additional 5,611,575 shares during the period. Norges Bank acquired a new stake in Avon Products during the fourth quarter worth approximately $12,897,000. Finally, Teachers Advisors LLC boosted its stake in Avon Products by 223.7% in the fourth quarter. Teachers Advisors LLC now owns 2,273,528 shares of the company’s stock worth $11,459,000 after buying an additional 1,571,089 shares during the period. Institutional investors and hedge funds own 87.24% 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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