Avon Products (AVP) Shares Gap Down to $1.96

Avon Products, Inc. (NYSE:AVP) gapped down before the market opened on Thursday . The stock had previously closed at $2.10, but opened at $1.96. Avon Products shares last traded at $1.88, with a volume of 5944427 shares.

AVP has been the topic of several analyst reports. ValuEngine cut Avon Products from a “buy” rating to a “hold” rating in a report on Tuesday, September 4th. Zacks Investment Research upgraded Avon Products from a “sell” rating to a “hold” rating in a report on Wednesday, September 19th. DA Davidson upgraded Avon Products from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $1.75 to $3.50 in a report on Monday, September 24th. Finally, Jefferies Financial Group upgraded Avon Products from an “underperform” rating to a “hold” rating and set a $1.75 price objective on the stock in a report on Wednesday, July 18th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. Avon Products has a consensus rating of “Hold” and an average target price of $2.68.

The firm has a market capitalization of $849.30 million, a PE ratio of 27.43, a price-to-earnings-growth 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 (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.01. Avon Products had a negative return on equity of 7.67% and a net margin of 2.61%. The business had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter last year, the firm earned $0.03 earnings per share. The business’s revenue was up .5% on a year-over-year basis. Equities research analysts forecast that Avon Products, Inc. will post 0.06 earnings per share for the current year.

In other Avon Products news, Director James A. Mitarotonda acquired 500,000 shares of the firm’s stock in a transaction dated Thursday, August 9th. The shares were acquired at an average price of $1.82 per share, for a total transaction 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 $15,166.06. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director James A. Mitarotonda acquired 100,000 shares of the firm’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 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. 0.72% of the stock is owned by company insiders.

A number of institutional investors have recently modified their holdings of AVP. Dimensional Fund Advisors LP boosted its holdings in Avon Products by 20.9% in the first quarter. Dimensional Fund Advisors LP now owns 9,882,732 shares of the company’s stock valued at $28,067,000 after acquiring an additional 1,705,275 shares during the last quarter. UBS Group AG boosted its holdings in Avon Products by 3,211.7% in the first quarter. UBS Group AG now owns 978,839 shares of the company’s stock valued at $2,780,000 after acquiring an additional 1,010,296 shares during the last quarter. Legal & General Group Plc boosted its holdings in Avon Products by 20.1% in the first quarter. Legal & General Group Plc now owns 1,573,866 shares of the company’s stock valued at $4,475,000 after acquiring an additional 263,223 shares during the last quarter. Royal Bank of Canada boosted its holdings in Avon Products by 22.4% in the first quarter. Royal Bank of Canada now owns 311,945 shares of the company’s stock valued at $887,000 after acquiring an additional 57,104 shares during the last quarter. Finally, CIBC World Markets Inc. acquired a new position in Avon Products in the first quarter valued at $111,000. Hedge funds and other institutional investors own 77.03% of the company’s stock.

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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