Analysts at Citigroup have lit a fire under shares of Avon Products, Inc. (NYSE:AVP) this morning, with both a rating and a target price upgrade. First off, they’ve raised their ‘neutral’ rating to a ‘buy’ after paying a visit to the company’s headquarters located in Brazil. Additionally, Citigroup’s $3.50 share price target has been raised considerably to $5 a share.
More positive news may be expected at the company’s Investor Day on January 21. The stock is up 11.58% or $0.33 after the positive news, hitting $3.18 per share. About 2.34 million shares traded hands. AVP has declined 67.65% since April 22, 2015 and is downtrending. It has underperformed by 66.64% the S&P500.
Out of 5 analysts covering Avon Products Inc. (NYSE:AVP), 1 rate it “Buy”, 1 “Sell”, while 3 “Hold”. This means 20% are positive. $10 is the highest target while $3.20 is the lowest. The $5.68 average target is 78.62% above today’s ($3.18) stock price. Avon Products Inc. was the topic in 7 analyst reports since August 3, 2015 according to StockzIntelligence Inc. UBS downgraded the stock on November 5 to “Sell” rating. Citigroup maintained the shares of AVP in a report on September 14 with “Neutral” rating.
The institutional sentiment decreased to 0.72 in Q2 2015. Its down 0.18, from 0.9 in 2015Q1. The ratio dropped, as 88 funds sold all Avon Products, Inc. shares owned while 114 reduced positions. 39 funds bought stakes while 106 increased positions. They now own 435.94 million shares or 5.94% more from 411.50 million shares in 2015Q1.
Royal Capital Management Llc holds 5.21% of its portfolio in Avon Products, Inc. for 385,000 shares. Mcclain Value Management Llc owns 1.73 million shares or 2.71% of their US portfolio. Moreover, Parametrica Management Ltd has 2.53% invested in the company for 10,133 shares. The Pennsylvania-based Mcglinn Capital Management Inc has invested 1.87% in the stock. Weitz Investment Management Inc., a Nebraska-based fund reported 8.86 million shares.
Avon Products, Inc. is a manufacturer and marketer of beauty and related products. The company has a market cap of $1.32 billion. The Company’s offers its products under two product categories: Beauty and Fashion & Home. It currently has negative earnings. Beauty consists of skincare , fragrance and color (cosmetics).