Truist Financial Lowers Avery Dennison (NYSE:AVY) Price Target to $210.00

Avery Dennison (NYSE:AVY) had its target price lowered by stock analysts at Truist Financial from $215.00 to $210.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the industrial products company’s stock. Truist Financial’s price target suggests a potential upside of 20.42% from the company’s previous close.

Several other research firms also recently issued reports on AVY. Raymond James reaffirmed an “outperform” rating and set a $208.00 price target (down previously from $218.00) on shares of Avery Dennison in a research note on Friday, January 31st. Robert W. Baird set a $220.00 target price on Avery Dennison in a report on Friday, January 31st. UBS Group lowered their price objective on Avery Dennison from $207.00 to $189.00 and set a “neutral” rating for the company in a research report on Monday, April 7th. Jefferies Financial Group began coverage on shares of Avery Dennison in a report on Tuesday. They set a “hold” rating and a $175.00 price target for the company. Finally, BMO Capital Markets set a $226.00 target price on shares of Avery Dennison in a research note on Monday, February 3rd. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $216.63.

Avery Dennison Price Performance

Shares of AVY traded up $5.36 during midday trading on Tuesday, hitting $174.39. The company’s stock had a trading volume of 359,128 shares, compared to its average volume of 584,573. The company has a quick ratio of 0.73, a current ratio of 1.08 and a debt-to-equity ratio of 1.10. Avery Dennison has a one year low of $157.00 and a one year high of $233.48. The stock has a market capitalization of $13.70 billion, a price-to-earnings ratio of 20.01, a price-to-earnings-growth ratio of 2.07 and a beta of 0.85. The company’s fifty day simple moving average is $177.31 and its two-hundred day simple moving average is $190.63.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.38 EPS for the quarter, missing analysts’ consensus estimates of $2.39 by ($0.01). Avery Dennison had a net margin of 8.05% and a return on equity of 33.06%. As a group, equities analysts expect that Avery Dennison will post 9.96 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Avery Dennison news, Chairman Mitchell R. Butier sold 12,969 shares of the firm’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $181.85, for a total value of $2,358,412.65. Following the transaction, the chairman now directly owns 303,331 shares of the company’s stock, valued at approximately $55,160,742.35. This trade represents a 4.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.84% of the stock is owned by company insiders.

Hedge Funds Weigh In On Avery Dennison

A number of hedge funds have recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in Avery Dennison during the fourth quarter worth $188,643,000. GAMMA Investing LLC lifted its position in shares of Avery Dennison by 19,370.0% during the first quarter. GAMMA Investing LLC now owns 428,730 shares of the industrial products company’s stock valued at $76,301,000 after purchasing an additional 426,528 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Avery Dennison in the 4th quarter worth about $51,521,000. Ameriprise Financial Inc. lifted its position in shares of Avery Dennison by 12.9% during the 4th quarter. Ameriprise Financial Inc. now owns 2,185,732 shares of the industrial products company’s stock worth $409,014,000 after buying an additional 250,359 shares in the last quarter. Finally, Johnson Investment Counsel Inc. grew its holdings in shares of Avery Dennison by 1,305.6% in the first quarter. Johnson Investment Counsel Inc. now owns 264,452 shares of the industrial products company’s stock valued at $47,065,000 after acquiring an additional 245,638 shares in the last quarter. Institutional investors and hedge funds 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.