UBS Group Cuts Avery Dennison (NYSE:AVY) Price Target to $207.00

Avery Dennison (NYSE:AVY) had its target price lowered by UBS Group from $235.00 to $207.00 in a report released on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the industrial products company’s stock. UBS Group’s price objective would indicate a potential upside of 11.43% from the stock’s previous close.

Several other equities analysts have also issued reports on AVY. Barclays decreased their target price on Avery Dennison from $250.00 to $245.00 and set an “overweight” rating on the stock in a research note on Monday, October 28th. JPMorgan Chase & Co. cut Avery Dennison from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $230.00 to $210.00 in a report on Thursday, October 24th. BMO Capital Markets lowered their price objective on Avery Dennison from $252.00 to $247.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Bank of America lowered their price target on Avery Dennison from $238.00 to $220.00 and set a “buy” rating for the company in a research report on Monday. Finally, Truist Financial reduced their price target on Avery Dennison from $258.00 to $245.00 and set a “buy” rating for the company in a report on Monday. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, Avery Dennison presently has a consensus rating of “Moderate Buy” and a consensus target price of $235.05.

Avery Dennison Stock Performance

Avery Dennison stock traded down $1.94 during midday trading on Friday, hitting $185.77. The stock had a trading volume of 235,033 shares, compared to its average volume of 578,418. 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 52-week low of $181.99 and a 52-week high of $233.48. The firm’s fifty day moving average is $197.05 and its two-hundred day moving average is $209.30. The company has a market capitalization of $14.93 billion, a PE ratio of 22.30, a P/E/G ratio of 1.52 and a beta of 0.89.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $2.33 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $2.20 billion. During the same quarter last year, the firm posted $2.10 earnings per share. The business’s revenue for the quarter was up 4.1% on a year-over-year basis. On average, research analysts forecast that Avery Dennison will post 9.42 EPS for the current year.

Insider Buying and Selling at Avery Dennison

In other Avery Dennison news, SVP Nicholas Colisto sold 3,679 shares of the stock in a transaction that occurred on 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 owns 7,126 shares in the company, valued at approximately $1,467,956. This trade represents a 34.05 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its position in shares of Avery Dennison by 8.2% in the third quarter. Geode Capital Management LLC now owns 2,088,516 shares of the industrial products company’s stock worth $459,621,000 after buying an additional 157,754 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in Avery Dennison by 6.8% during the third quarter. Victory Capital Management Inc. now owns 1,416,798 shares of the industrial products company’s stock worth $312,772,000 after buying an additional 90,250 shares during the period. Meridiem Investment Management Ltd. lifted its holdings in shares of Avery Dennison by 0.7% during the 3rd quarter. Meridiem Investment Management Ltd. now owns 794,092 shares of the industrial products company’s stock valued at $175,261,000 after purchasing an additional 5,756 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Avery Dennison by 4.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 787,716 shares of the industrial products company’s stock valued at $172,254,000 after purchasing an additional 32,467 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in Avery Dennison by 0.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 699,541 shares of the industrial products company’s stock worth $154,431,000 after acquiring an additional 3,118 shares during the last quarter. Hedge funds and other institutional investors own 94.17% of the company’s stock.

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.