Price Action Alert: Does Avon Products, Inc. Have More Gas After Reaching 52-Week High?

Price Action Alert: Does Avon Products, Inc. Have More Gas After Reaching 52 Week High?

The stock of Avon Products, Inc. (NYSE:AVP) hit a new 52-week high and has $10.39 target or 67.00% above today’s $6.22 share price. The 9 months bullish chart indicates low risk for the $2.84B company. The 1-year high was reported on Oct, 17 by If the $10.39 price target is reached, the company will be worth $1.90 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 438,286 shares traded hands. Avon Products, Inc. (NYSE:AVP) has risen 43.38% since March 14, 2016 and is uptrending. It has outperformed by 37.77% the S&P500.

Analysts await Avon Products, Inc. (NYSE:AVP) to report earnings on November, 2. They expect $0.03 earnings per share, up 127.27% or $0.14 from last year’s $-0.11 per share. AVP’s profit will be $13.70M for 51.83 P/E if the $0.03 EPS becomes a reality. After $0.07 actual earnings per share reported by Avon Products, Inc. for the previous quarter, Wall Street now forecasts -57.14% negative EPS growth.

Avon Products, Inc. (NYSE:AVP) Ratings Coverage

Out of 7 analysts covering Avon Products Inc. (NYSE:AVP), 4 rate it a “Buy”, 1 “Sell”, while 2 “Hold”. This means 57% are positive. $10 is the highest target while $2 is the lowest. The $5.30 average target is -14.79% below today’s ($6.22) stock price. Avon Products Inc. has been the topic of 16 analyst reports since August 3, 2015 according to StockzIntelligence Inc. The firm has “Neutral” rating given on Thursday, November 5 by B. Riley & Co. The rating was upgraded by Citigroup on Tuesday, November 24 to “Buy”. UBS maintained Avon Products, Inc. (NYSE:AVP) on Friday, July 31 with “Neutral” rating. Piper Jaffray downgraded Avon Products, Inc. (NYSE:AVP) on Tuesday, April 12 to “Neutral” rating. Jefferies initiated the stock with “Buy” rating in Friday, June 3 report. The firm has “Sell” rating given on Thursday, November 5 by UBS. Sterne Agee CRT upgraded the shares of AVP in a report on Friday, December 18 to “Buy” rating. As per Saturday, December 5, the company rating was maintained by Citigroup. Citigroup maintained Avon Products, Inc. (NYSE:AVP) rating on Monday, September 14. Citigroup has “Neutral” rating and $4 price target. Sterne Agee CRT initiated the stock with “Neutral” rating in Tuesday, July 21 report.

According to Zacks Investment Research, “Avon Products, Inc. is one of the world’s leading manufacturers and marketers of beauty and related products, which include cosmetics, fragrance and toiletries; beauty plus which consists of jewelry and accessories and apparel; and non-core which consists of gift and decorative and home entertainment products.”

Insitutional Activity: The institutional sentiment increased to 1.06 in Q2 2016. Its up 0.08, from 0.98 in 2016Q1. The ratio increased, as 41 funds sold all Avon Products, Inc. shares owned while 67 reduced positions. 23 funds bought stakes while 92 increased positions. They now own 374.42 million shares or 0.82% more from 371.35 million shares in 2016Q1.
State Of Tennessee Treasury Department holds 0% of its portfolio in Avon Products, Inc. (NYSE:AVP) for 40,000 shares. Weaver C Barksdale And Assocs has 6,976 shares for 0.05% of their US portfolio. Canada Pension Plan Inv Board, a Ontario – Canada-based fund reported 308,710 shares. Thrivent Finance For Lutherans holds 0% of its portfolio in Avon Products, Inc. (NYSE:AVP) for 223,775 shares. Springbok Mngmt Limited Liability Corp has invested 0.01% of its portfolio in Avon Products, Inc. (NYSE:AVP). Commonwealth Equity Inc last reported 45,393 shares in the company. Metropolitan Life Ins Co Ny has 715,950 shares for 0.02% of their US portfolio. Wellington Management Limited Liability Partnership holds 0.01% or 14.81M shares in its portfolio. Blair William Il has 0% invested in the company for 14,747 shares. Sg Americas Secs Ltd Liability Company has 0.01% invested in the company for 297,954 shares. The Connecticut-based Cubist Systematic Strategies Limited Liability Com has invested 0.07% in Avon Products, Inc. (NYSE:AVP). Birmingham Capital Al has 25,026 shares for 0.04% of their US portfolio. Renaissance Llc reported 5.55 million shares or 0.04% of all its holdings. Aviva Public Limited Co holds 33,246 shares or 0% of its portfolio. Raymond James Svcs has 119,465 shares for 0% of their US portfolio.

Insider Transactions: Since August 9, 2016, the stock had 2 insider purchases, and 0 insider sales for $64,330 net activity. 2,400 shares with value of $12,360 were bought by CORNWELL W DON on Tuesday, August 9. The insider Higson John bought $51,970.

AVP Company Profile

Avon Products, Inc., incorporated on January 27, 1916, is a maker and marketer of beauty and related products. The Company’s product categories are Beauty, and Fashion and Home. Beauty consists of skincare (which includes personal care), fragrance and color (cosmetics). Fashion and Home consists of fashion jewelry, watches, apparel, footwear, accessories, gift and decorative products, housewares, entertainment and leisure products, children’s products and nutritional products. The Company’s divisions are based on geographic activities and include commercial business units in Latin America; Europe, Middle East and Africa, and Asia Pacific. The Company’s business is conducted primarily in one channel, direct selling.

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