Avon Products, Inc. (NYSE:AVP) Sees Significant Increase in Short Interest

Avon Products, Inc. (NYSE:AVP) was the recipient of a significant growth in short interest during the month of September. As of September 30th, there was short interest totalling 20,970,000 shares, a growth of 39.7% from the August 30th total of 15,010,000 shares. Based on an average daily trading volume, of 7,730,000 shares, the days-to-cover ratio is presently 2.7 days. Currently, 4.8% of the shares of the stock are sold short.

NYSE AVP traded down $0.04 during trading hours on Monday, hitting $4.15. The company’s stock had a trading volume of 2,323,345 shares, compared to its average volume of 8,626,593. The stock has a fifty day moving average of $4.36 and a 200 day moving average of $3.77. Avon Products has a twelve month low of $1.30 and a twelve month high of $4.88. The firm has a market capitalization of $1.86 billion, a P/E ratio of 138.33, a PEG ratio of 2.81 and a beta of 1.72.

Avon Products (NYSE:AVP) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.06 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.02. Avon Products had a negative net margin of 0.30% and a negative return on equity of 10.92%. The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.24 billion. During the same period in the prior year, the business posted ($0.03) earnings per share. Avon Products’s revenue was down 13.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Avon Products will post 0.2 EPS for the current year.

AVP has been the topic of a number of research reports. Citigroup lowered shares of Avon Products from a “buy” rating to a “neutral” rating and set a $4.01 target price on the stock. in a research report on Friday, June 21st. Barclays reiterated a “hold” rating and set a $4.00 target price on shares of Avon Products in a research report on Sunday, August 4th. Finally, ValuEngine lowered shares of Avon Products from a “buy” rating to a “hold” rating in a research report on Monday, September 30th. Four research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $3.72.

In other Avon Products news, VP Laura Barbrook sold 15,261 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $4.21, for a total transaction of $64,248.81. Following the sale, the vice president now directly owns 15,261 shares of the company’s stock, valued at $64,248.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.95% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in AVP. Cleararc Capital Inc. acquired a new position in Avon Products in the first quarter valued at approximately $33,000. Osborn Williams & Donohoe LLC bought a new stake in shares of Avon Products during the second quarter worth $44,000. Cetera Advisor Networks LLC bought a new stake in shares of Avon Products during the second quarter worth $48,000. Cerebellum GP LLC bought a new stake in shares of Avon Products during the third quarter worth $49,000. Finally, Weiss Asset Management LP bought a new stake in shares of Avon Products during the second quarter worth $72,000. Institutional investors and hedge funds own 70.82% of the company’s stock.

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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