April 3, 2012
Avon Products, Inc. (NYSE:AVP) hit the list of unusual volume leaders.
Following its regular trading behavior with insignificant bounces well below the level of $20.00 the shares of the company surged by 17.25% or $3.34 per share to $22.70 before the closing bell.
Over the recent year the shares of the company were trading as low as $16.09 and reached its highest values at $31.60. At the recent price the company’s market capitalization stands at $9.78 billion, thus AVP refers to a group of mid cap companies and is about to enter the large cap market segment. As a result of the unusual price moving up and following multiple stock buy sell trading recommendations as many as 65.27 million shares of the company have recently exchanged hands. This value is significantly higher than the average 30-day trading volume of the company that amounts to 4.01 million shares.
The company owns a total of 430.95 million outstanding shares that are distributed among stock market portfolios of multiple investors. The company’s beta is presently equal to 1.39, which means that the stock is slightly more volatile than the market, which refers AVP to a group of companies that involve a certain level of risks for potential investors .
The unusual surge in share price of the company followed the announcement that the Board of Directors of AVP elected Mr, Douglas К. Conant to the Board. He is a 60-year old former President and CEO of the Campbell Soup Company. During the years of his work at the company it is known to have reached increase in sales and have hit consecutive earnings per share growth.
Avon Products, Inc. is a representative of the Personal and Household Products industry of the Consumer/Non-Cyclical sector. The company is engaged in producing and marketing beauty and fashion products.