Citigroup Downgrades Avon Products (NYSE:AVP) to Neutral

Avon Products (NYSE:AVP) was downgraded by analysts at Citigroup from a “buy” rating to a “neutral” rating in a research note issued on Friday, June 21st, Marketbeat.com reports. They presently have a $4.01 price objective on the stock. Citigroup‘s price objective suggests a potential upside of 3.08% from the stock’s current price.

Other analysts have also recently issued research reports about the company. DA Davidson cut Avon Products from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $4.75 to $3.60 in a research report on Thursday, May 23rd. Zacks Investment Research cut Farmers & Merchants Bancorp, Inc. (OH) from a “hold” rating to a “strong sell” rating in a research report on Thursday, May 9th. Three analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. Avon Products has an average rating of “Buy” and an average price target of $3.15.

AVP traded down $0.04 during trading on Friday, reaching $3.89. 9,680,679 shares of the stock traded hands, compared to its average volume of 7,473,943. The stock has a market cap of $1.74 billion, a PE ratio of 129.67, a price-to-earnings-growth ratio of 3.02 and a beta of 1.79. Avon Products has a fifty-two week low of $1.30 and a fifty-two week high of $4.10. The firm’s 50-day moving average price is $3.85.

Avon Products (NYSE:AVP) last released its quarterly earnings data on Thursday, May 2nd. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.04. The firm had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.24 billion. Avon Products had a negative return on equity of 6.45% and a negative net margin of 0.60%. The business’s revenue for the quarter was down 14.8% on a year-over-year basis. During the same quarter last year, the firm earned ($0.02) earnings per share. Equities research analysts predict that Avon Products will post 0.17 earnings per share for the current fiscal year.

Several large investors have recently made changes to their positions in AVP. Rhumbline Advisers lifted its position in shares of Avon Products by 4.6% in the fourth quarter. Rhumbline Advisers now owns 676,211 shares of the company’s stock worth $1,028,000 after buying an additional 29,702 shares during the last quarter. SG Americas Securities LLC lifted its position in shares of Avon Products by 71.9% in the fourth quarter. SG Americas Securities LLC now owns 342,268 shares of the company’s stock worth $520,000 after buying an additional 143,209 shares during the last quarter. Alps Advisors Inc. lifted its position in shares of Avon Products by 46.0% in the fourth quarter. Alps Advisors Inc. now owns 50,233 shares of the company’s stock worth $76,000 after buying an additional 15,834 shares during the last quarter. Oregon Public Employees Retirement Fund acquired a new stake in shares of Avon Products in the fourth quarter worth about $256,000. Finally, Acadian Asset Management LLC lifted its position in shares of Avon Products by 11.1% in the fourth quarter. Acadian Asset Management LLC now owns 2,618,273 shares of the company’s stock worth $3,980,000 after buying an additional 262,275 shares during the last quarter. 73.39% of the stock is owned by institutional investors.

Avon Products Company Profile

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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