Avon Products Inc. (AVP) Short Interest Update
Avon Products Inc. (NYSE:AVP) saw a significant drop in short interest during the month of September. As of September 15th, there was short interest totalling 23,128,067 shares, a drop of 10.8% from the August 31st total of 25,915,140 shares. Based on an average daily trading volume, of 5,249,041 shares, the days-to-cover ratio is presently 4.4 days. Approximately 5.3% of the company’s stock are short sold.
In other Avon Products news, insider John Higson purchased 10,000 shares of the firm’s stock in a transaction on Thursday, August 11th. The stock was bought at an average cost of $5.20 per share, for a total transaction of $52,000.00. Following the completion of the purchase, the insider now owns 64,341 shares in the company, valued at approximately $334,573.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.80% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in AVP. LS Investment Advisors LLC boosted its position in Avon Products by 72.7% in the second quarter. LS Investment Advisors LLC now owns 26,439 shares of the company’s stock valued at $100,000 after buying an additional 11,129 shares in the last quarter. Rational Advisors LLC acquired a new position in Avon Products during the second quarter valued at about $104,000. PNC Financial Services Group Inc. boosted its position in Avon Products by 9.7% in the second quarter. PNC Financial Services Group Inc. now owns 30,646 shares of the company’s stock valued at $116,000 after buying an additional 2,716 shares in the last quarter. Parametrica Management Ltd acquired a new position in Avon Products during the second quarter valued at about $129,000. Finally, Tower Research Capital LLC TRC acquired a new position in Avon Products during the second quarter valued at about $131,000. 88.27% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have commented on the company. B. Riley reiterated a “neutral” rating and issued a $5.25 price target on shares of Avon Products in a research note on Tuesday, August 9th. Deutsche Bank AG raised their price objective on Avon Products from $7.00 to $8.00 and gave the stock a “buy” rating in a research note on Wednesday, August 3rd. Zacks Investment Research upgraded Avon Products from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 3rd. Finally, Piper Jaffray Cos. restated a “neutral” rating and issued a $4.00 price objective on shares of Avon Products in a research note on Thursday, July 14th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $7.54.
Shares of Avon Products (NYSE:AVP) opened at 5.66 on Friday. Avon Products has a one year low of $2.21 and a one year high of $5.97. The firm’s market capitalization is $2.47 billion. The firm has a 50-day moving average price of $5.60 and a 200 day moving average price of $4.64.
Avon Products (NYSE:AVP) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $0.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.04. The business earned $1.43 billion during the quarter, compared to analysts’ expectations of $1.43 billion. Avon Products had a negative return on equity of 3.13% and a negative net margin of 19.45%. The business’s quarterly revenue was down 8.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.11 EPS. Equities analysts forecast that Avon Products will post $0.14 earnings per share for the current fiscal year.
Avon Products Company Profile
Avon Products, Inc is a manufacturer and marketer of beauty and related products. The Company’s product categories are Beauty, and Fashion and Home. Beauty consists of skincare (which includes personal care), fragrance and color (cosmetics). Fashion and Home consists of 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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