Avery Dennison Co. (NYSE:AVY) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Avery Dennison Co. (NYSE:AVY) has received an average recommendation of “Moderate Buy” from the eleven brokerages that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $239.96.

Several equities analysts have issued reports on the company. StockNews.com upgraded Avery Dennison from a “hold” rating to a “buy” rating in a research report on Monday, April 22nd. BMO Capital Markets reduced their target price on Avery Dennison from $256.00 to $254.00 and set an “outperform” rating for the company in a report on Wednesday, July 24th. Raymond James reaffirmed an “outperform” rating and set a $240.00 price target (up from $225.00) on shares of Avery Dennison in a research note on Thursday, April 25th. Argus raised their price objective on shares of Avery Dennison from $240.00 to $245.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Finally, JPMorgan Chase & Co. upped their target price on shares of Avery Dennison from $218.00 to $220.00 and gave the stock an “overweight” rating in a research report on Thursday, April 25th.

Avery Dennison Trading Down 0.4 %

Shares of AVY stock opened at $212.95 on Thursday. Avery Dennison has a twelve month low of $165.21 and a twelve month high of $233.48. The company has a current ratio of 0.90, a quick ratio of 0.60 and a debt-to-equity ratio of 0.89. The business’s 50 day moving average is $222.58 and its two-hundred day moving average is $216.30. The company has a market capitalization of $17.15 billion, a P/E ratio of 31.09, a price-to-earnings-growth ratio of 1.77 and a beta of 0.88.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $0.16. The company had revenue of $2.24 billion for the quarter, compared to analysts’ expectations of $2.18 billion. Avery Dennison had a net margin of 7.34% and a return on equity of 33.44%. Avery Dennison’s revenue was up 6.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.92 EPS. Equities analysts forecast that Avery Dennison will post 9.39 EPS for the current year.

Avery Dennison Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, September 4th will be issued a $0.88 dividend. The ex-dividend date is Wednesday, September 4th. This represents a $3.52 dividend on an annualized basis and a yield of 1.65%. Avery Dennison’s dividend payout ratio (DPR) is 51.39%.

Insider Transactions at Avery Dennison

In other Avery Dennison news, SVP Deena Baker-Nel sold 3,000 shares of Avery Dennison stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $228.17, for a total value of $684,510.00. Following the completion of the sale, the senior vice president now directly owns 1,577 shares of the company’s stock, valued at approximately $359,824.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, SVP Ignacio J. Walker sold 2,206 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $226.70, for a total transaction of $500,100.20. Following the completion of the transaction, the senior vice president now owns 7,082 shares of the company’s stock, valued at $1,605,489.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Deena Baker-Nel sold 3,000 shares of Avery Dennison stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $228.17, for a total transaction of $684,510.00. Following the completion of the transaction, the senior vice president now owns 1,577 shares in the company, valued at approximately $359,824.09. The disclosure for this sale can be found here. Insiders sold a total of 12,583 shares of company stock worth $2,856,353 over the last ninety days. 1.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Avery Dennison

Several institutional investors and hedge funds have recently added to or reduced their stakes in AVY. Innealta Capital LLC acquired a new position in shares of Avery Dennison during the 2nd quarter valued at $28,000. VisionPoint Advisory Group LLC purchased a new stake in shares of Avery Dennison in the fourth quarter worth about $42,000. 1620 Investment Advisors Inc. acquired a new stake in shares of Avery Dennison in the second quarter valued at about $51,000. Livforsakringsbolaget Skandia Omsesidigt raised its holdings in shares of Avery Dennison by 164.4% during the 4th 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. Finally, Palisade Asset Management LLC acquired a new position in Avery Dennison during the 1st quarter worth approximately $64,000. 94.17% of the stock is currently owned by institutional investors and hedge funds.

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.