Avery Dennison (NYSE:AVY) Price Target Lowered to $245.00 at Truist Financial

Avery Dennison (NYSE:AVY) had its target price reduced by Truist Financial from $258.00 to $245.00 in a research note issued to investors on Monday,Benzinga reports. Truist Financial currently has a buy rating on the industrial products company’s stock.

Other research analysts have also issued reports about the company. Bank of America raised Avery Dennison from an “underperform” rating to a “buy” rating and raised their price objective for the company from $207.00 to $250.00 in a research report on Thursday, October 17th. Citigroup cut their price objective on Avery Dennison from $241.00 to $240.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 2nd. StockNews.com lowered Avery Dennison from a “buy” rating to a “hold” rating in a research report on Thursday, October 24th. Barclays cut their price objective on Avery Dennison from $250.00 to $245.00 and set an “overweight” rating on the stock in a research report on Monday, October 28th. Finally, BMO Capital Markets dropped their target price on Avery Dennison from $252.00 to $247.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $237.60.

Avery Dennison Price Performance

Shares of Avery Dennison stock opened at $187.67 on Monday. Avery Dennison has a twelve month low of $181.99 and a twelve month high of $233.48. The stock has a market capitalization of $15.08 billion, a P/E ratio of 22.53, a PEG ratio of 1.52 and a beta of 0.89. The company has a current ratio of 0.92, a quick ratio of 0.62 and a debt-to-equity ratio of 0.85. The business’s fifty day moving average price is $197.43 and its 200 day moving average price is $209.45.

Avery Dennison (NYSE:AVY) last issued its earnings results on Wednesday, October 23rd. The industrial products company reported $2.33 earnings per share for the quarter, beating analysts’ consensus estimates of $2.32 by $0.01. Avery Dennison had a return on equity of 33.01% and a net margin of 7.76%. The firm had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.20 billion. During the same quarter last year, the firm earned $2.10 earnings per share. The firm’s revenue for the quarter was up 4.1% compared to the same quarter last year. As a group, research analysts anticipate that Avery Dennison will post 9.42 earnings per share for the current year.

Avery Dennison Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th were issued a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 1.88%. The ex-dividend date was Wednesday, December 4th. Avery Dennison’s dividend payout ratio is currently 42.26%.

Insider Activity at Avery Dennison

In related news, SVP Nicholas Colisto sold 3,679 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $206.00, for a total value of $757,874.00. Following the completion of the sale, the senior vice president now directly owns 7,126 shares of the company’s stock, valued at $1,467,956. The trade was a 34.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.10% of the stock is owned by corporate insiders.

Institutional Trading of Avery Dennison

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Larson Financial Group LLC boosted its stake in Avery Dennison by 100.0% in the third quarter. Larson Financial Group LLC now owns 142 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 71 shares during the period. Kennebec Savings Bank acquired a new position in Avery Dennison in the third quarter valued at approximately $36,000. Peterson Financial Group Inc. acquired a new position in Avery Dennison in the third quarter valued at approximately $39,000. Ashton Thomas Private Wealth LLC acquired a new position in Avery Dennison in the second quarter valued at approximately $42,000. Finally, Raleigh Capital Management Inc. boosted its stake in Avery Dennison by 1,400.0% in the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the industrial products company’s stock valued at $56,000 after acquiring an additional 238 shares during the period. 94.17% of the stock is owned by institutional investors.

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.