Avery Dennison (NYSE:AVY) Upgraded to “Buy” by StockNews.com

StockNews.com upgraded shares of Avery Dennison (NYSE:AVY) from a hold rating to a buy rating in a research report sent to investors on Monday.

Several other equities research analysts also recently issued reports on AVY. Citigroup upped their price target on Avery Dennison from $223.00 to $234.00 and gave the stock a neutral rating in a report on Thursday, April 4th. UBS Group upped their target price on shares of Avery Dennison from $225.00 to $230.00 and gave the stock a buy rating in a research note on Thursday, January 11th. Truist Financial reiterated a buy rating and issued a $249.00 target price on shares of Avery Dennison in a research note on Friday, January 19th. JPMorgan Chase & Co. increased their price target on shares of Avery Dennison from $185.00 to $218.00 and gave the company an overweight rating in a research report on Thursday, February 1st. Finally, Bank of America lowered shares of Avery Dennison from a buy rating to an underperform rating and set a $208.00 price target for the company. in a research report on Tuesday, January 2nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $223.60.

Avery Dennison Trading Up 2.2 %

Shares of Avery Dennison stock opened at $217.09 on Monday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.69 and a current ratio of 1.04. Avery Dennison has a 52 week low of $158.93 and a 52 week high of $225.26. The stock has a 50 day moving average price of $215.51 and a two-hundred day moving average price of $200.13. The stock has a market capitalization of $17.48 billion, a PE ratio of 34.96, a price-to-earnings-growth ratio of 3.26 and a beta of 0.90.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings data on Wednesday, January 31st. The industrial products company reported $2.16 EPS for the quarter, meeting analysts’ consensus estimates of $2.16. Avery Dennison had a return on equity of 30.97% and a net margin of 6.01%. The firm had revenue of $2.11 billion during the quarter, compared to analysts’ expectations of $2.10 billion. During the same quarter last year, the firm posted $1.65 earnings per share. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. As a group, equities analysts anticipate that Avery Dennison will post 9.26 earnings per share for the current fiscal year.

Avery Dennison Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, March 6th were issued a dividend of $0.81 per share. This represents a $3.24 annualized dividend and a yield of 1.49%. The ex-dividend date of this dividend was Tuesday, March 5th. Avery Dennison’s dividend payout ratio (DPR) is presently 52.17%.

Insider Buying and Selling at Avery Dennison

In other news, Chairman Mitchell R. Butier sold 8,168 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $217.36, for a total value of $1,775,396.48. Following the sale, the chairman now directly owns 321,487 shares of the company’s stock, valued at $69,878,414.32. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Julia A. Stewart sold 5,311 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $202.26, for a total value of $1,074,202.86. Following the sale, the director now directly owns 5,018 shares of the company’s stock, valued at $1,014,940.68. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Mitchell R. Butier sold 8,168 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $217.36, for a total transaction of $1,775,396.48. Following the completion of the sale, the chairman now directly owns 321,487 shares in the company, valued at $69,878,414.32. The disclosure for this sale can be found here. Insiders have sold a total of 19,879 shares of company stock valued at $4,217,705 over the last three months. 1.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Avery Dennison

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Taylor Frigon Capital Management LLC raised its stake in Avery Dennison by 0.8% in the first quarter. Taylor Frigon Capital Management LLC now owns 6,386 shares of the industrial products company’s stock valued at $1,426,000 after purchasing an additional 48 shares in the last quarter. Albert D Mason Inc. raised its stake in Avery Dennison by 0.7% in the first quarter. Albert D Mason Inc. now owns 7,456 shares of the industrial products company’s stock valued at $1,665,000 after purchasing an additional 51 shares in the last quarter. Alliance Wealth Advisors LLC UT raised its stake in Avery Dennison by 1.5% in the fourth quarter. Alliance Wealth Advisors LLC UT now owns 3,840 shares of the industrial products company’s stock valued at $776,000 after purchasing an additional 56 shares in the last quarter. First Trust Direct Indexing L.P. raised its stake in Avery Dennison by 5.0% in the fourth quarter. First Trust Direct Indexing L.P. now owns 1,198 shares of the industrial products company’s stock valued at $242,000 after purchasing an additional 57 shares in the last quarter. Finally, New York Life Investment Management LLC raised its stake in Avery Dennison by 0.5% in the third quarter. New York Life Investment Management LLC now owns 11,454 shares of the industrial products company’s stock valued at $2,092,000 after purchasing an additional 58 shares in the last quarter. 94.17% of the stock is owned by hedge funds and other institutional investors.

Avery Dennison Company Profile

Avery Dennison Corporation operates as a materials science and digital identification solutions company in the United States, Europe, the Middle East, North Africa, Asia, Latin, America, and internationally. It provides pressure-sensitive materials comprising papers, plastic films, metal foils, and fabrics; performance tapes products, including tapes for wire harnessing, as well as cable wrapping for automotive, electrical, and general industrial applications; mechanical fasteners, which are precision-extruded and injection-molded plastic devices used in various automotive, general industrial, and retail applications; and other pressure-sensitive adhesive-based materials and converted products under the Fasson, JAC, Yongle, and Avery Dennison brands.