Shares of Avon Products, Inc. (NYSE:AVP) reached a new 52-week high and low during mid-day trading on Monday . The company traded as low as $1.58 and last traded at $1.59, with a volume of 162519 shares changing hands. The stock had previously closed at $1.63.
A number of analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of Avon Products from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 17th. ValuEngine downgraded shares of Avon Products from a “hold” rating to a “sell” rating in a report on Wednesday, March 7th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $2.00 price objective on shares of Avon Products in a report on Friday, February 16th. Deutsche Bank lifted their price objective on shares of Avon Products from $2.00 to $3.00 and gave the company a “hold” rating in a report on Friday, February 16th. Finally, Jefferies Financial Group set a $2.00 price objective on shares of Avon Products and gave the company a “sell” rating in a report on Thursday, February 15th. Four analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. Avon Products currently has an average rating of “Hold” and a consensus target price of $2.53.
The firm has a market capitalization of $711.10 million, a price-to-earnings ratio of 26.33, a price-to-earnings-growth ratio of 1.07 and a beta of 1.33. The company has a current ratio of 1.23, a quick ratio of 0.83 and a debt-to-equity ratio of -2.18.
In other news, insider Calero Miguel Angel Fernandez bought 100,000 shares of the stock in a transaction that occurred on Wednesday, May 16th. The shares were acquired at an average cost of $1.89 per share, for a total transaction of $189,000.00. Following the completion of the acquisition, the insider now owns 100,000 shares in the company, valued at $189,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director James A. Mitarotonda acquired 456,908 shares of Avon Products stock in a transaction on Tuesday, May 22nd. The shares were bought at an average cost of $1.91 per share, with a total value of $872,694.28. Following the completion of the transaction, the director now owns 8,333 shares of the company’s stock, valued at $15,916.03. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 1,031,742 shares of company stock worth $1,975,876. 0.72% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in AVP. BlackRock Inc. boosted its position in Avon Products by 39.7% during the first quarter. BlackRock Inc. now owns 38,121,936 shares of the company’s stock worth $108,265,000 after purchasing an additional 10,834,803 shares during the period. Investec Asset Management LTD boosted its position in Avon Products by 54.4% during the fourth quarter. Investec Asset Management LTD now owns 12,369,917 shares of the company’s stock worth $26,595,000 after purchasing an additional 4,359,067 shares during the period. Renaissance Technologies LLC boosted its position in Avon Products by 47.6% during the fourth quarter. Renaissance Technologies LLC now owns 11,914,500 shares of the company’s stock worth $25,616,000 after purchasing an additional 3,842,800 shares during the period. Brookfield Asset Management Inc. bought a new position in Avon Products during the first quarter worth $6,248,000. Finally, Dimensional Fund Advisors LP boosted its position in Avon Products by 20.9% during the first quarter. Dimensional Fund Advisors LP now owns 9,882,732 shares of the company’s stock worth $28,067,000 after purchasing an additional 1,705,275 shares during the period. 81.67% of the stock is owned by hedge funds and other institutional investors.
About Avon Products
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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