Avery Dennison Co. (NYSE:AVY) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Avery Dennison Co. (NYSE:AVY) have been given an average recommendation of “Moderate Buy” by the eleven research firms that are presently covering the company, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $235.05.

A number of research analysts have weighed in on the company. Truist Financial reduced their target price on Avery Dennison from $258.00 to $245.00 and set a “buy” rating for the company in a report on Monday, January 6th. Citigroup cut their price objective on Avery Dennison from $228.00 to $202.00 and set a “neutral” rating for the company in a report on Monday, January 6th. StockNews.com lowered Avery Dennison from a “buy” rating to a “hold” rating in a report on Thursday, October 24th. UBS Group cut their price objective on Avery Dennison from $235.00 to $207.00 and set a “neutral” rating for the company in a report on Friday, January 10th. Finally, Barclays cut their price objective on Avery Dennison from $250.00 to $245.00 and set an “overweight” rating for the company in a report on Monday, October 28th.

Insider Buying and Selling

In other Avery Dennison news, SVP Nicholas Colisto sold 3,679 shares of the business’s 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. The trade was a 34.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Avery Dennison

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Intech Investment Management LLC lifted its position in Avery Dennison by 3.3% in the second quarter. Intech Investment Management LLC now owns 1,559 shares of the industrial products company’s stock valued at $341,000 after purchasing an additional 50 shares during the last quarter. Empirical Finance LLC increased its stake in shares of Avery Dennison by 2.0% during the third quarter. Empirical Finance LLC now owns 2,822 shares of the industrial products company’s stock valued at $623,000 after buying an additional 55 shares during the period. Procyon Advisors LLC increased its stake in shares of Avery Dennison by 4.0% during the third quarter. Procyon Advisors LLC now owns 1,442 shares of the industrial products company’s stock valued at $319,000 after buying an additional 56 shares during the period. AdvisorNet Financial Inc increased its stake in shares of Avery Dennison by 18.8% during the fourth quarter. AdvisorNet Financial Inc now owns 367 shares of the industrial products company’s stock valued at $69,000 after buying an additional 58 shares during the period. Finally, Lindenwold Advisors INC increased its stake in shares of Avery Dennison by 0.6% during the third quarter. Lindenwold Advisors INC now owns 10,266 shares of the industrial products company’s stock valued at $2,266,000 after buying an additional 59 shares during the period. Institutional investors own 94.17% of the company’s stock.

Avery Dennison Stock Down 1.0 %

AVY stock opened at $190.57 on Thursday. The company has a quick ratio of 0.62, a current ratio of 0.92 and a debt-to-equity ratio of 0.85. The firm has a market capitalization of $15.31 billion, a PE ratio of 22.88, a PEG ratio of 1.34 and a beta of 0.89. Avery Dennison has a twelve month low of $181.99 and a twelve month high of $233.48. The stock has a 50-day simple moving average of $194.60 and a two-hundred day simple moving average of $207.44.

Avery Dennison (NYSE:AVY) last posted 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. The business had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.20 billion. Avery Dennison had a return on equity of 33.01% and a net margin of 7.76%. The company’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.10 EPS. On average, equities analysts predict that Avery Dennison will post 9.41 EPS for the current fiscal year.

Avery Dennison Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th were given a $0.88 dividend. The ex-dividend date of this dividend was Wednesday, December 4th. This represents a $3.52 dividend on an annualized basis and a yield of 1.85%. Avery Dennison’s payout ratio is 42.26%.

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.