Bank of America Downgrades Avon Products (AVP) to Underperform
Avon Products (NYSE:AVP) was downgraded by equities research analysts at Bank of America from a “neutral” rating to an “underperform” rating in a research note issued to investors on Thursday. They presently have a $2.50 target price on the stock, down from their prior target price of $3.00. Bank of America’s price target indicates a potential upside of 13.12% from the stock’s current price.
AVP has been the topic of several other research reports. DA Davidson reiterated a “buy” rating and set a $2.00 price target on shares of Avon Products in a report on Monday, November 20th. Stifel Nicolaus reiterated a “hold” rating and set a $3.00 price target on shares of Avon Products in a report on Friday, November 3rd. Zacks Investment Research upgraded Avon Products from a “hold” rating to a “buy” rating and set a $2.50 price target on the stock in a report on Monday, October 23rd. Jefferies Group lowered their price target on Avon Products from $2.20 to $1.75 and set an “underperform” rating on the stock in a report on Friday, November 3rd. Finally, ValuEngine upgraded Avon Products from a “sell” rating to a “hold” rating in a report on Friday, December 1st. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company’s stock. Avon Products has an average rating of “Hold” and an average price target of $2.86.
Avon Products (NYSE:AVP) opened at $2.21 on Thursday. The firm has a market cap of $972.39, a P/E ratio of -9.61, a P/E/G ratio of 2.41 and a beta of 1.81. The company has a current ratio of 1.42, a quick ratio of 0.97 and a debt-to-equity ratio of -2.31. Avon Products has a 52-week low of $1.85 and a 52-week high of $6.03.
Hedge funds have recently made changes to their positions in the business. Cubist Systematic Strategies LLC acquired a new position in Avon Products during the second quarter valued at approximately $307,000. Systematic Financial Management LP grew its holdings in Avon Products by 21.7% during the third quarter. Systematic Financial Management LP now owns 572,790 shares of the company’s stock valued at $1,335,000 after purchasing an additional 102,010 shares during the last quarter. NJ State Employees Deferred Compensation Plan grew its stake in shares of Avon Products by 73.7% in the third quarter. NJ State Employees Deferred Compensation Plan now owns 165,000 shares of the company’s stock worth $385,000 after acquiring an additional 70,000 shares during the last quarter. State of New Jersey Common Pension Fund D grew its stake in shares of Avon Products by 3.4% in the third quarter. State of New Jersey Common Pension Fund D now owns 6,000,000 shares of the company’s stock worth $13,980,000 after acquiring an additional 200,000 shares during the last quarter. Finally, Engineers Gate Manager LP acquired a new stake in shares of Avon Products in the second quarter worth $1,636,000. Institutional investors own 82.38% of the company’s stock.
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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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