Avery Dennison (NYSE:AVY) Given Buy Rating at Truist Financial

Avery Dennison (NYSE:AVY)‘s stock had its “buy” rating reaffirmed by research analysts at Truist Financial in a research note issued on Friday,Benzinga reports. They currently have a $215.00 price objective on the industrial products company’s stock, down from their previous price objective of $245.00. Truist Financial’s target price would suggest a potential upside of 14.40% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on the company. Barclays cut their price target on Avery Dennison from $250.00 to $245.00 and set an “overweight” rating for the company in a research note on Monday, October 28th. BMO Capital Markets dropped their price objective on shares of Avery Dennison from $252.00 to $247.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. JPMorgan Chase & Co. raised shares of Avery Dennison from a “neutral” rating to an “overweight” rating and dropped their target price for the stock from $210.00 to $205.00 in a research note on Friday. StockNews.com cut shares of Avery Dennison from a “buy” rating to a “hold” rating in a research report on Thursday, October 24th. Finally, UBS Group reduced their price target on shares of Avery Dennison from $235.00 to $207.00 and set a “neutral” rating for the company in a report on Friday, January 10th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $231.87.

Avery Dennison Stock Up 3.0 %

NYSE:AVY traded up $5.45 during trading hours on Friday, hitting $187.94. The stock had a trading volume of 309,685 shares, compared to its average volume of 719,637. The company has a current ratio of 0.92, a quick ratio of 0.62 and a debt-to-equity ratio of 0.85. Avery Dennison has a 1-year low of $179.20 and a 1-year high of $233.48. The business has a 50 day simple moving average of $193.54 and a two-hundred day simple moving average of $206.34. The company has a market cap of $15.10 billion, a PE ratio of 22.55, a price-to-earnings-growth ratio of 1.38 and a beta of 0.89.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.38 earnings per share for the quarter, missing analysts’ consensus estimates of $2.39 by ($0.01). Avery Dennison had a net margin of 7.76% and a return on equity of 33.01%. Analysts predict that Avery Dennison will post 9.41 EPS for the current year.

Insiders Place Their Bets

In other Avery Dennison news, SVP Nicholas Colisto sold 3,679 shares of Avery Dennison stock in a transaction on Monday, November 25th. The shares were sold at an average price of $206.00, for a total value of $757,874.00. Following the completion of the transaction, the senior vice president now owns 7,126 shares of the company’s stock, valued at approximately $1,467,956. The trade was a 34.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.10% of the company’s stock.

Institutional Trading of Avery Dennison

Hedge funds and other institutional investors have recently made changes to their positions in the company. Larson Financial Group LLC increased 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 purchasing an additional 71 shares during the last quarter. Kennebec Savings Bank bought a new position in Avery Dennison during the 3rd quarter valued at $36,000. Regents Gate Capital LLP acquired a new position in shares of Avery Dennison in the 4th quarter worth approximately $37,000. Peterson Financial Group Inc. bought a new stake in shares of Avery Dennison during the 3rd quarter valued at about $39,000. Finally, Raleigh Capital Management Inc. increased its position 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 worth $56,000 after buying an additional 238 shares during the period. Institutional investors and hedge funds 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.