Avery Dennison Corporation (NYSE:AVY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday, November 7th. The firm currently has a $120.00 price objective on the industrial products company’s stock. Zacks Investment Research‘s price target suggests a potential upside of 10.81% from the company’s current price.
According to Zacks, “Avery Dennison projects adjusted earnings per share guidance in the range of $4.90-$4.95 fir fiscal 2017. The midpoint of the guidance range reflects year-over-year growth of 23%. The company expected reported sales growth in the range of 8% for the full year. Its consistent execution of strategies continues to enhance competitive advantage while driving profitable growth. Focus on productivity, acquisitions, aggressive cost control and share repurchases will also drive results. Its segments remain well poised for growth. Moreover, its shares have outperformed the industry year to date. Its estimates have gone up lately.”
A number of other equities analysts have also weighed in on the company. Citigroup Inc. increased their price target on Avery Dennison Corporation from $106.00 to $108.00 and gave the company a “buy” rating in a research report on Wednesday, July 26th. Robert W. Baird reiterated a “buy” rating and issued a $100.00 price target on shares of Avery Dennison Corporation in a research report on Friday, September 1st. KeyCorp reiterated a “hold” rating on shares of Avery Dennison Corporation in a research report on Friday, September 22nd. Barclays PLC raised their price objective on Avery Dennison Corporation from $105.00 to $120.00 and gave the stock an “overweight” rating in a research report on Monday, October 30th. Finally, J P Morgan Chase & Co lowered Avery Dennison Corporation from an “overweight” rating to a “neutral” rating in a research report on Thursday, October 26th. Four research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $105.71.
Avery Dennison Corporation (AVY) traded up $0.04 during trading hours on Tuesday, hitting $108.29. The company had a trading volume of 600,600 shares, compared to its average volume of 655,522. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.13 and a quick ratio of 0.82. Avery Dennison Corporation has a fifty-two week low of $69.53 and a fifty-two week high of $108.99. The firm has a market cap of $9,530.00, a price-to-earnings ratio of 23.19, a price-to-earnings-growth ratio of 3.14 and a beta of 1.22.
Avery Dennison Corporation (NYSE:AVY) last released its quarterly earnings results on Wednesday, October 25th. The industrial products company reported $1.26 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.21 by $0.05. Avery Dennison Corporation had a return on equity of 40.52% and a net margin of 6.27%. The business had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same quarter last year, the company posted $1.01 EPS. Avery Dennison Corporation’s revenue for the quarter was up 11.3% on a year-over-year basis. analysts anticipate that Avery Dennison Corporation will post 4.93 EPS for the current year.
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In other news, VP Susan C. Miller sold 6,518 shares of the firm’s stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $105.17, for a total transaction of $685,498.06. Following the completion of the sale, the vice president now directly owns 13,409 shares of the company’s stock, valued at approximately $1,410,224.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mitchell R. Butier sold 77,551 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $106.31, for a total value of $8,244,446.81. Following the sale, the insider now directly owns 130,673 shares of the company’s stock, valued at $13,891,846.63. The disclosure for this sale can be found here. Insiders have sold a total of 144,047 shares of company stock valued at $15,258,161 over the last ninety days. Company insiders own 1.40% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Acrospire Investment Management LLC bought a new position in shares of Avery Dennison Corporation in the 2nd quarter valued at approximately $129,000. Captrust Financial Advisors bought a new position in shares of Avery Dennison Corporation in the 2nd quarter valued at approximately $130,000. Pacad Investment Ltd. bought a new position in shares of Avery Dennison Corporation in the 2nd quarter valued at approximately $141,000. Conning Inc. bought a new position in shares of Avery Dennison Corporation in the 3rd quarter valued at approximately $200,000. Finally, Davidson & Garrard Inc. bought a new position in shares of Avery Dennison Corporation in the 3rd quarter valued at approximately $202,000. 86.80% of the stock is owned by institutional investors.
Avery Dennison Corporation Company Profile
Avery Dennison Corporation (Avery Dennison) is engaged in the production of pressure-sensitive materials and a range of tickets, tags, labels and other converted products. The Company’s segments include Label and Graphic Materials (LGM); Retail Branding and Information Solutions (RBIS), and Industrial and Healthcare Materials (IHM).
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