Avon Products (AVP) Raised to C- at TheStreet

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Avon Products (NYSE:AVP) was upgraded by research analysts at TheStreet from a “d” rating to a “c-” rating in a note issued to investors on Friday.

AVP has been the topic of a number of other reports. ValuEngine upgraded shares of Avon Products from a “hold” rating to a “buy” rating in a research note on Tuesday, September 18th. Zacks Investment Research upgraded shares of Avon Products from a “sell” rating to a “hold” rating in a research note on Wednesday, September 19th. DA Davidson upgraded shares of Avon Products from a “neutral” rating to a “buy” rating and upped their target price for the stock from $1.75 to $3.50 in a research note on Monday, September 24th. Finally, Jefferies Financial Group upgraded shares of Avon Products from an “underperform” rating to a “hold” rating and set a $1.75 target price on the stock in a research note on Wednesday, July 18th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. Avon Products presently has a consensus rating of “Hold” and a consensus price target of $2.63.

Avon Products stock opened at $1.98 on Friday. Avon Products has a 1-year low of $1.38 and a 1-year high of $2.99. The stock has a market capitalization of $849.30 million, a P/E ratio of 33.00, a PEG ratio of 2.05 and a beta of 1.38.

Avon Products (NYSE:AVP) last posted its quarterly earnings data on Thursday, November 1st. The company reported $0.02 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.01. Avon Products had a net margin of 2.61% and a negative return on equity of 7.67%. The company had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same period in the prior year, the company posted $0.03 EPS. The firm’s revenue for the quarter was up .5% on a year-over-year basis. As a group, equities research analysts predict that Avon Products will post 0.06 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 dated Thursday, August 9th. The shares were purchased at an average cost of $1.82 per share, for a total transaction of $910,000.00. Following the completion of the purchase, the director now owns 8,333 shares in the company, valued at $15,166.06. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director James A. Mitarotonda acquired 100,000 shares of the company’s stock in a transaction dated Monday, August 13th. The shares were acquired at an average price of $1.69 per share, for a total transaction of $169,000.00. Following the completion of the purchase, the director now owns 8,333 shares of the company’s stock, valued at approximately $14,082.77. The disclosure for this purchase can be found here. 0.72% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AVP. Investec Asset Management LTD boosted its stake in shares of Avon Products by 104.9% during the second quarter. Investec Asset Management LTD now owns 13,295,042 shares of the company’s stock valued at $21,538,000 after purchasing an additional 6,805,784 shares in the last quarter. Millennium Management LLC boosted its stake in shares of Avon Products by 97.2% during the second quarter. Millennium Management LLC now owns 8,251,494 shares of the company’s stock valued at $13,367,000 after purchasing an additional 4,066,931 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Avon Products by 8.5% during the second quarter. BlackRock Inc. now owns 41,350,428 shares of the company’s stock valued at $66,988,000 after purchasing an additional 3,228,492 shares in the last quarter. General American Investors Co. Inc. bought a new position in shares of Avon Products during the third quarter valued at approximately $5,247,000. Finally, Saba Capital Management L.P. boosted its stake in shares of Avon Products by 85.8% during the second quarter. Saba Capital Management L.P. now owns 3,436,757 shares of the company’s stock valued at $5,568,000 after purchasing an additional 1,587,310 shares in the last quarter. Hedge funds and other institutional investors own 77.76% of the company’s stock.

Avon Products Company Profile

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.

Further Reading: Hedge Funds Explained

Analyst Recommendations for Avon Products (NYSE:AVP)

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