Avon Products, Inc. (AVP) Stock Rating Upgraded by Zacks Investment Research
Avon Products, Inc. (NYSE:AVP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday. The firm currently has a $2.50 target price on the stock. Zacks Investment Research‘s price target would indicate a potential upside of 9.65% from the stock’s current price.
According to Zacks, “Avon’s progress on Transformation Plan, which is on track to deliver cost savings goals of $230 million for 2017, is impressive. With significant progress on enhancing cost structure and improving financial flexibility, the company is now keen on investing in growth by implementing strategies to aid in strengthening Avon while driving profitable growth. However, Avon has underperformed the industry in the last three months largely due to its dismal surprise history. The company has lagged top-line and bottom-line estimates for four straight quarters now. Results for the most recent quarter were mainly impacted by strong comparisons with the prior-year quarter. Based on the dismal performance, the company now expects constant-dollar revenue growth for 2017 to be at the low-end of its previous guidance range of low-single digits growth. Nevertheless, estimates have been stable lately ahead of the third quarter earnings release.”
Several other equities analysts have also recently commented on the stock. Royal Bank Of Canada reissued a “hold” rating and set a $3.00 target price on shares of Avon Products in a research note on Friday, October 13th. Stifel Nicolaus reissued a “hold” rating and set a $4.00 target price (down previously from $4.50) on shares of Avon Products in a research note on Wednesday, August 9th. Deutsche Bank AG reissued a “hold” rating and set a $3.00 target price (down previously from $5.00) on shares of Avon Products in a research note on Friday, August 4th. DA Davidson initiated coverage on shares of Avon Products in a research note on Thursday, July 6th. They set a “neutral” rating and a $4.25 target price on the stock. Finally, ValuEngine cut shares of Avon Products from a “hold” rating to a “sell” rating in a research note on Friday, August 4th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $3.37.
Shares of Avon Products (AVP) traded down 0.4430% on Monday, hitting $2.2699. 733,153 shares of the stock were exchanged. The firm’s 50 day moving average price is $2.41 and its 200 day moving average price is $3.31. Avon Products has a one year low of $2.23 and a one year high of $6.96. The firm’s market cap is $998.64 million.
Avon Products (NYSE:AVP) last issued its quarterly earnings data on Thursday, August 3rd. The company reported ($0.03) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by ($0.10). The firm had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.44 billion. Avon Products had a negative net margin of 0.99% and a negative return on equity of 3.68%. The company’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.07 earnings per share. Equities analysts anticipate that Avon Products will post $0.12 earnings per share for the current year.
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Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Avon Products by 3.9% in the 1st quarter. Vanguard Group Inc. now owns 40,109,692 shares of the company’s stock worth $176,482,000 after purchasing an additional 1,495,063 shares during the last quarter. Retirement Systems of Alabama grew its stake in shares of Avon Products by 0.5% in the 2nd quarter. Retirement Systems of Alabama now owns 567,032 shares of the company’s stock worth $2,155,000 after purchasing an additional 2,854 shares during the last quarter. Engineers Gate Manager LP acquired a new position in shares of Avon Products in the 2nd quarter worth approximately $1,636,000. State Street Corp grew its stake in shares of Avon Products by 1.7% in the 1st quarter. State Street Corp now owns 14,342,565 shares of the company’s stock worth $63,106,000 after purchasing an additional 234,308 shares during the last quarter. Finally, FMR LLC grew its stake in shares of Avon Products by 219.8% in the 2nd quarter. FMR LLC now owns 29,804,223 shares of the company’s stock worth $113,256,000 after purchasing an additional 20,485,474 shares during the last quarter. 84.24% of the stock is currently owned by institutional investors.
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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