Short Interest in Avon Products Increases By 16.6% (AVP)

Shares of Avon Products (NYSE:AVP) saw a large increase in short interest during the month of December. As of December 15th, there was short interest totalling 57,793,390 shares, an increase of 16.6% from the November 28th total of 49,566,171 shares, Stock Ratings Network.com reports. Based on an average daily volume of 11,467,182 shares, the days-to-cover ratio is currently 5.0 days. Currently, 13.3% of the shares of the stock are sold short.

A number of analysts have recently weighed in on AVP shares. Analysts at BMO Capital Markets downgraded shares of Avon Products from a “market perform” rating to an “underperform” rating in a research note on Tuesday, December 23rd. They now have a $7.00 price target on the stock, down previously from $10.00. Separately, analysts at Piper Jaffray initiated coverage on shares of Avon Products in a research note on Wednesday, December 17th. They set a “neutral” rating and a $9.00 price target on the stock. Finally, analysts at Citigroup Inc. cut their price target on shares of Avon Products from $11.00 to $10.00 in a research note on Wednesday, December 17th. They now have a “neutral” rating on the stock. One research analyst has rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the stock. Avon Products currently has an average rating of “Hold” and a consensus target price of $12.32.

Source: http://goo.gl/dcQ7ob