Avery Dennison (NYSE:AVY) Stock Gets Price Target Bump from UBS Group

Avery Dennison (NYSE:AVY) had its price objective increased by investment analysts at UBS Group from $225.00 to $230.00 in a research report issued on Friday, Benzinga reports. The firm currently has a “buy” rating on the industrial products company’s stock. UBS Group‘s target price points to a potential upside of 26.24% from the company’s previous close.

Several other brokerages have also recently issued reports on AVY. JPMorgan Chase & Co. raised their target price on shares of Avery Dennison from $190.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday. Bank of America reissued a “buy” rating on shares of Avery Dennison in a research report on Friday, August 14th. Truist Financial dropped their price target on shares of Avery Dennison from $209.00 to $208.00 and set a “buy” rating for the company in a research report on Monday, October 12th. Jefferies Financial Group reissued a “hold” rating and issued a $181.00 price target on shares of Avery Dennison in a report on Monday, September 28th. Finally, Wall Street Zen downgraded shares of Avery Dennison from a “buy” rating to a “hold” rating in a research note on Saturday. Six analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $200.60.

Avery Dennison Stock Performance

Avery Dennison stock opened at $182.19 on Friday. The firm has a fifty day simple moving average of $174.24 and a two-hundred day simple moving average of $172.28. The company has a quick ratio of 0.80, a current ratio of 1.16 and a debt-to-equity ratio of 1.33. Avery Dennison has a twelve month low of $152.42 and a twelve month high of $199.54. The company has a market capitalization of $13.81 billion, a PE ratio of 19.72, a P/E/G ratio of 2.15 and a beta of 0.79.

Avery Dennison (NYSE:AVY) last released its quarterly earnings data on Thursday, October 29th. The industrial products company reported $2.42 EPS for the quarter, topping the consensus estimate of $2.32 by $0.10. Avery Dennison had a return on equity of 33.88% and a net margin of 7.56%. The firm had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.26 billion. During the same quarter in the previous year, the business earned $2.37 earnings per share. The company’s quarterly revenue was up 5.2% on a year-over-year basis. Research analysts expect that Avery Dennison will post 10.17 EPS for the current year.

Insider Activity at Avery Dennison

In other news, SVP Nicholas Colisto sold 3,886 shares of the company’s stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $170.68, for a total transaction of $663,262.48. Following the transaction, the senior vice president directly owned 7,126 shares of the company’s stock, valued at $1,216,265.68. This represents a 35.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Ignacio J. Walker sold 1,742 shares of the business’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $171.61, for a total value of $298,944.62. Following the completion of the transaction, the senior vice president directly owned 7,585 shares of the company’s stock, valued at approximately $1,301,661.85. This trade represents a 18.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.81% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Activest Wealth Management bought a new position in shares of Avery Dennison during the 3rd quarter valued at $27,000. Trust Co. of Vermont purchased a new stake in Avery Dennison during the second quarter valued at $27,000. Elevation Wealth Partners LLC increased its position in Avery Dennison by 684.0% during the second quarter. Elevation Wealth Partners LLC now owns 196 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 171 shares during the last quarter. Louisbourg Investments Inc. bought a new position in Avery Dennison in the third quarter valued at about $39,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in Avery Dennison in the second quarter worth about $40,000. Institutional investors own 94.17% of the company’s stock.

About Avery Dennison

Avery Dennison Corporation (NYSE: AVY) is a global materials science and manufacturing company that develops and produces labeling, packaging, graphic, and functional materials. Its products are used by businesses across industries including consumer goods, retail, logistics, apparel, automotive, healthcare, and industrial manufacturing.

The company’s offerings include pressure-sensitive labels and label materials, adhesives, industrial and specialty tapes, graphic films, and packaging materials.