Avery Dennison (NYSE:AVY) Price Target Cut to $254.00

Avery Dennison (NYSE:AVY) had its price objective lowered by stock analysts at BMO Capital Markets from $256.00 to $254.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an “outperform” rating on the industrial products company’s stock. BMO Capital Markets’ price target suggests a potential upside of 17.08% from the company’s previous close.

Other equities research analysts have also issued reports about the company. JPMorgan Chase & Co. upped their price objective on Avery Dennison from $218.00 to $220.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. Robert W. Baird upped their price target on Avery Dennison from $230.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, June 7th. StockNews.com raised Avery Dennison from a “hold” rating to a “buy” rating in a research report on Monday, April 22nd. Truist Financial boosted their price objective on Avery Dennison from $253.00 to $258.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Raymond James restated an “outperform” rating and set a $240.00 target price (up previously from $225.00) on shares of Avery Dennison in a research note on Thursday, April 25th. One research analyst has rated the stock with a sell rating, one has given a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $241.51.

Avery Dennison Stock Performance

Avery Dennison stock traded down $3.61 during midday trading on Wednesday, reaching $216.95. 191,309 shares of the company traded hands, compared to its average volume of 442,597. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.87 and a quick ratio of 0.58. Avery Dennison has a 12 month low of $165.21 and a 12 month high of $233.48. The firm has a market capitalization of $17.48 billion, a price-to-earnings ratio of 31.69, a price-to-earnings-growth ratio of 1.93 and a beta of 0.88. The business has a 50 day moving average of $223.62 and a two-hundred day moving average of $215.83.

Avery Dennison (NYSE:AVY) last released its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $2.42 earnings per share for the quarter, beating the consensus estimate of $2.26 by $0.16. Avery Dennison had a return on equity of 32.59% and a net margin of 6.56%. The firm had revenue of $2.24 billion for the quarter, compared to analysts’ expectations of $2.18 billion. During the same period in the prior year, the firm earned $1.92 EPS. The company’s revenue was up 6.9% compared to the same quarter last year. As a group, research analysts predict that Avery Dennison will post 9.4 earnings per share for the current year.

Insider Transactions at Avery Dennison

In related news, insider Ryan D. Yost sold 149 shares of the firm’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $226.38, for a total value of $33,730.62. Following the completion of the transaction, the insider now directly owns 2,110 shares of the company’s stock, valued at $477,661.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Avery Dennison news, SVP Deena Baker-Nel sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $228.17, for a total transaction of $684,510.00. Following the sale, the senior vice president now directly owns 1,577 shares in the company, valued at $359,824.09. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Ryan D. Yost sold 149 shares of Avery Dennison stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $226.38, for a total value of $33,730.62. Following the completion of the transaction, the insider now owns 2,110 shares of the company’s stock, valued at approximately $477,661.80. The disclosure for this sale can be found here. Insiders have sold 12,583 shares of company stock valued at $2,856,353 in the last ninety days. Corporate insiders own 1.10% of the company’s stock.

Institutional Trading of Avery Dennison

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. VisionPoint Advisory Group LLC purchased a new stake in shares of Avery Dennison in the fourth quarter valued at $42,000. 1620 Investment Advisors Inc. purchased a new stake in Avery Dennison in the 2nd quarter worth about $51,000. Livforsakringsbolaget Skandia Omsesidigt boosted its position in shares of Avery Dennison by 164.4% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 267 shares of the industrial products company’s stock valued at $54,000 after buying an additional 166 shares during the period. Palisade Asset Management LLC bought a new position in shares of Avery Dennison during the first quarter valued at approximately $64,000. Finally, Versant Capital Management Inc raised its holdings in shares of Avery Dennison by 936.7% in the second quarter. Versant Capital Management Inc now owns 311 shares of the industrial products company’s stock worth $68,000 after buying an additional 281 shares during the period. Hedge funds and other institutional investors own 94.17% of the company’s stock.

About Avery Dennison

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.