US investment research platform Vetr has downgraded shares in Avon Products from a buy rating to a hold rating, as a result of slumping revenues.

Avon Products currently has a US$10.53 target price on the stock. The company’s 50-day moving average is US$8 and its 200-day moving average is US$9.

Quarterly earnings were last released on Thursday, February 12. The company reported revenues of US$2.30bn for the quarter, which fell below expectations such as Thomson Reuters’ consensus estimate of US$2.43 billion. The company’s quarterly revenue was down 12.2 percent compared to the same period last year.

Alongside Vetr’s report, Avon has been the subject of a number of other recent analyses. Analysts at Zacks reiterated a sell rating and set a $8.25 price target on shares of Avon Products in a research note isssued on Friday, March 27.

Analysts at RBC Capital lowered their price target on shares of Avon Products from US$9 to US$8 and set a “sector perform” rating on the stock in a research note on Friday, February. Analysts at B. Riley reiterated a neutral rating and set a $9.50 price target on shares of Avon Products in a research note on Friday, February 20.

Finally, analysts at Deutsche Bank gave shares a buy rating and set a US$15 price target (down previously from US$16) on shares of Avon Products in a research note on Friday, February 13.

Overall, two research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company. Avon Products has an average rating of hold and an average price target of US$11.05.