Vetr downgrades shares in Avon Products from “buy” rating to “hold”

Vetr downgrades shares in Avon Products from “buy” rating to “hold”

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.

 

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