Bank of America Downgrades Avon Products (NYSE:AVP) to Underperform
Avon Products (NYSE:AVP) was downgraded by Bank of America from a “neutral” rating to an “underperform” rating in a report released on Thursday, January 4th, Marketbeat.com reports. They currently have a $2.50 target price on the stock, down from their prior target price of $3.00. Bank of America’s price target points to a potential upside of 3.73% from the company’s previous close.
A number of other equities research analysts also recently weighed in on AVP. Jefferies Group assumed coverage on Avon Products in a research report on Wednesday, September 13th. They set an “underperform” rating and a $2.20 price target on the stock. Zacks Investment Research raised Avon Products from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 10th. Royal Bank of Canada reaffirmed a “hold” rating and set a $3.00 price objective on shares of Avon Products in a research note on Friday, October 13th. Stifel Nicolaus reaffirmed a “hold” rating and set a $3.00 price objective on shares of Avon Products in a research note on Friday, November 3rd. Finally, DA Davidson reaffirmed a “hold” rating and set a $2.00 price objective on shares of Avon Products in a research note on Tuesday, November 7th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $2.86.
Shares of Avon Products (NYSE AVP) opened at $2.41 on Thursday. Avon Products has a 12-month low of $1.85 and a 12-month high of $6.03. The company has a debt-to-equity ratio of -2.31, a current ratio of 1.42 and a quick ratio of 0.97.
Several hedge funds and other institutional investors have recently bought and sold shares of AVP. Bank of Montreal Can grew its stake in shares of Avon Products by 5.7% in the second quarter. Bank of Montreal Can now owns 40,376 shares of the company’s stock worth $153,000 after purchasing an additional 2,165 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Avon Products by 1.5% in the second quarter. Principal Financial Group Inc. now owns 1,797,967 shares of the company’s stock worth $6,832,000 after purchasing an additional 26,869 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Avon Products by 11.8% in the second quarter. JPMorgan Chase & Co. now owns 554,803 shares of the company’s stock worth $2,108,000 after purchasing an additional 58,666 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake 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 worth $244,000 after purchasing an additional 213 shares during the last quarter. Finally, Engineers Gate Manager LP bought a new stake in shares of Avon Products in the second quarter worth about $1,636,000. 82.84% of the stock is currently owned by institutional investors.
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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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