Raymond James Has Lowered Expectations for Avery Dennison (NYSE:AVY) Stock Price

Avery Dennison (NYSE:AVY) had its price objective decreased by Raymond James from $208.00 to $194.00 in a research report released on Tuesday morning,Benzinga reports. Raymond James currently has an outperform rating on the industrial products company’s stock.

A number of other analysts have also recently issued reports on AVY. Truist Financial reduced their price objective on Avery Dennison from $215.00 to $210.00 and set a “buy” rating for the company in a research report on Tuesday. Citigroup decreased their price objective on shares of Avery Dennison from $228.00 to $202.00 and set a “neutral” rating for the company in a report on Monday, January 6th. JPMorgan Chase & Co. raised Avery Dennison from a “neutral” rating to an “overweight” rating and dropped their price target for the stock from $210.00 to $205.00 in a research report on Friday, January 31st. Jefferies Financial Group began coverage on shares of Avery Dennison in a research report on Tuesday. They set a “hold” rating and a $175.00 price objective for the company. Finally, UBS Group reduced their target price 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. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Avery Dennison presently has a consensus rating of “Moderate Buy” and a consensus target price of $210.63.

Avery Dennison Trading Up 2.0 %

Shares of NYSE AVY opened at $173.62 on Tuesday. The business has a fifty day simple moving average of $176.76 and a 200-day simple moving average of $190.10. The company has a market cap of $13.63 billion, a price-to-earnings ratio of 19.91, a P/E/G ratio of 2.07 and a beta of 0.85. Avery Dennison has a 12 month low of $157.00 and a 12 month high of $233.48. 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 (NYSE:AVY) last announced its earnings results on Wednesday, April 23rd. The industrial products company reported $2.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.32 by ($0.02). The firm had revenue of $2.15 billion for the quarter, compared to analyst estimates of $2.15 billion. Avery Dennison had a net margin of 8.05% and a return on equity of 33.06%. Sell-side analysts predict that Avery Dennison will post 9.96 EPS for the current year.

Avery Dennison Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were issued a $0.88 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.03%. Avery Dennison’s dividend payout ratio is 40.37%.

Insider Transactions at Avery Dennison

In other news, Chairman Mitchell R. Butier sold 12,969 shares of the firm’s stock in a transaction dated 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 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.84% of the stock is owned by company insiders.

Institutional Trading of Avery Dennison

Several institutional investors and hedge funds have recently made changes to their positions in the business. Spire Wealth Management boosted its position in shares of Avery Dennison by 630.9% during the first quarter. Spire Wealth Management now owns 2,200 shares of the industrial products company’s stock worth $392,000 after purchasing an additional 1,899 shares in the last quarter. Wealthquest Corp acquired a new position in shares of Avery Dennison during the 1st quarter worth about $31,544,000. Figure 8 Investment Strategies LLC grew its stake in Avery Dennison by 1.1% in the first quarter. Figure 8 Investment Strategies LLC now owns 7,889 shares of the industrial products company’s stock valued at $1,404,000 after purchasing an additional 83 shares in the last quarter. Oppenheimer Asset Management Inc. grew its stake in shares of Avery Dennison by 11.3% in the first quarter. Oppenheimer Asset Management Inc. now owns 2,953 shares of the industrial products company’s stock valued at $526,000 after buying an additional 300 shares in the last quarter. Finally, Manning & Napier Advisors LLC grew its position in shares of Avery Dennison by 89.6% in the 1st quarter. Manning & Napier Advisors LLC now owns 11,272 shares of the industrial products company’s stock valued at $2,006,000 after acquiring an additional 5,326 shares during the period. Institutional investors own 94.17% of the company’s stock.

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.