Avon Products Inc. (NYSE:AVP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Friday. The firm presently has a $6.75 price objective on the stock. Zacks Investment Research’s price objective indicates a potential upside of 9.05% from the stock’s previous close.
According to Zacks, “Avon’s efforts towards improving pricing, lowering costs, building brand strength and boosting Active Representatives are finally starting to pay-off. The company, which had been battling waning top and bottom lines due to currency headwinds and a highly leveraged balance sheet, made a comeback in second-quarter 2016 with better-than-expected top- and bottom-line results. This marked the company’s first earnings beat in the last four quarters. Results were backed by better performances in 9 of the company’s top 10 markets. Alongside, Avon remains on track with its transformation plan, which seeks to lower costs and attain its long-term revenue and margin targets. However, currency woes continue to be a hurdle as it is expected to hurt results in 2016. Nonetheless, estimates have been stable lately ahead of the company’s third-quarter earnings release.”
Several other analysts have also weighed in on AVP. B. Riley restated a “neutral” rating and issued a $5.25 price objective on shares of Avon Products in a report on Tuesday, August 9th. Deutsche Bank AG upped their price objective on Avon Products from $7.00 to $8.00 and gave the company a “buy” rating in a report 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 report on Thursday, July 14th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $7.76.
Shares of Avon Products (NYSE:AVP) opened at 6.19 on Friday. The stock’s market cap is $2.71 billion. The firm has a 50-day moving average price of $5.74 and a 200 day moving average price of $4.75. Avon Products has a 12-month low of $2.21 and a 12-month high of $6.34.
Avon Products (NYSE:AVP) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported $0.07 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.04. The firm earned $1.43 billion during the quarter, compared to analyst estimates of $1.43 billion. The company’s quarterly revenue was down 8.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.11 EPS. Equities research analysts predict that Avon Products will post $0.14 EPS for the current fiscal year.
In other Avon Products news, insider John Higson acquired 10,000 shares of Avon Products stock in a transaction that occurred on Thursday, August 11th. The stock was purchased at an average cost of $5.20 per share, with a total value of $52,000.00. Following the purchase, the insider now owns 64,341 shares in the company, valued at $334,573.20. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.80% of the stock is owned by corporate insiders.
Large investors have recently made changes to their positions in the company. LS Investment Advisors LLC increased its stake in shares of 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. Searle & CO. increased its stake in shares of Avon Products by 38.5% in the third quarter. Searle & CO. now owns 18,000 shares of the company’s stock valued at $100,000 after buying an additional 5,000 shares in the last quarter. Rational Advisors LLC acquired a new stake in shares of Avon Products during the second quarter valued at about $104,000. PNC Financial Services Group Inc. increased its stake in shares of 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. Finally, Parametrica Management Ltd acquired a new stake in shares of Avon Products during the second quarter valued at about $129,000. 88.18% of the stock is owned by hedge funds and other institutional investors.
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.