Avon Products (AVP) Stock Rating Upgraded by Zacks Investment Research

Avon Products (NYSE:AVP) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report released on Monday, January 8th.

According to Zacks, “Avon has outperformed the industry in past month driven by the company’s focus on transformation plan, which is on track to deliver cost savings goals of $230 million for 2017. Further, the company expects to drive growth through innovations, solid team execution, improving Representative experience. However, the company’s dismal earnings surprise history with fifth straight earnings miss recorded in third-quarter 2017 remains a concern. Further, operating margin remained under pressure due to higher bad debt expenses, alongside increased Representative, sales leader and field expenses, all mainly in Brazil. Nevertheless, top line trend reversed in the quarter after four consecutive misses. Though Avon is witnessing improving trends in various markets, it expects modest growth in fourth-quarter while results are likely to lag expectations in 2017. Estimates have been stable ahead of the fourth quarter earnings.”

Several other equities analysts have also recently commented on the stock. DA Davidson reissued a “buy” rating and set a $2.00 target price on shares of Avon Products in a research report on Monday, November 20th. Stifel Nicolaus restated a “hold” rating and set a $3.00 price target on shares of Avon Products in a research note on Friday, November 3rd. Bank of America lowered shares of Avon Products from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $3.00 to $2.50 in a research note on Thursday, January 4th. Jefferies Group reduced their price objective on shares of Avon Products from $2.20 to $1.75 and set an “underperform” rating for the company in a research note on Friday, November 3rd. Finally, ValuEngine upgraded shares of Avon Products from a “sell” rating to a “hold” rating in a research note on Friday, December 1st. Three 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. The stock presently has an average rating of “Hold” and a consensus price target of $2.86.

Avon Products (NYSE:AVP) opened at $2.21 on Monday. The stock has a market cap of $972.39, a PE ratio of -9.61, a PEG ratio of 2.40 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 1 year low of $1.85 and a 1 year high of $6.03.

Avon Products (NYSE:AVP) last announced its quarterly earnings results on Thursday, November 2nd. The company reported $0.03 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by ($0.04). The company had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same quarter last year, the firm posted $0.02 earnings per share. The business’s quarterly revenue was up .7% compared to the same quarter last year. research analysts forecast that Avon Products will post -0.03 earnings per share for the current fiscal year.

Institutional investors have recently bought and sold shares of the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Avon Products by 0.3% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 64,193 shares of the company’s stock valued at $244,000 after acquiring an additional 213 shares during the period. Thrivent Financial For Lutherans increased its position in shares of Avon Products by 5.8% in the second quarter. Thrivent Financial For Lutherans now owns 88,120 shares of the company’s stock valued at $335,000 after acquiring an additional 4,850 shares during the period. Verition Fund Management LLC increased its position in shares of Avon Products by 27.3% in the second quarter. Verition Fund Management LLC now owns 58,058 shares of the company’s stock valued at $221,000 after acquiring an additional 12,437 shares during the period. Mutual of America Capital Management LLC increased its position in shares of Avon Products by 7.0% in the second quarter. Mutual of America Capital Management LLC now owns 356,082 shares of the company’s stock valued at $1,353,000 after acquiring an additional 23,417 shares during the period. Finally, Alpine Global Management LLC purchased a new position in shares of Avon Products in the second quarter valued at about $100,000. 82.38% of the stock is owned by institutional investors and hedge funds.

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About Avon Products

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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