Avery Dennison Co. (NYSE:AVY) Given Average Rating of "Moderate Buy" by Brokerages

Shares of Avery Dennison Co. (NYSE:AVY - Get Free Report) have received an average recommendation of "Moderate Buy" from the eleven brokerages that are currently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $235.05.

A number of research firms have recently issued reports on AVY. Bank of America reduced their target price on Avery Dennison from $238.00 to $220.00 and set a "buy" rating for the company in a report on Monday, January 6th. Barclays decreased their price objective on Avery Dennison from $250.00 to $245.00 and set an "overweight" rating for the company in a research report on Monday, October 28th. Citigroup dropped their target price on Avery Dennison from $228.00 to $202.00 and set a "neutral" rating on the stock in a report on Monday, January 6th. Truist Financial lowered their price objective on shares of Avery Dennison from $258.00 to $245.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. Finally, BMO Capital Markets cut their target price on shares of Avery Dennison from $252.00 to $247.00 and set an "outperform" rating for the company in a research report on Thursday, October 24th.

Insider Buying and Selling at Avery Dennison

In other news, SVP Nicholas Colisto sold 3,679 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $206.00, for a total transaction of $757,874.00. Following the transaction, the senior vice president now owns 7,126 shares of the company's stock, valued at approximately $1,467,956. This represents a 34.05 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.10% of the company's stock.

Institutional Investors Weigh In On Avery Dennison

A number of large investors have recently added to or reduced their stakes in AVY. Larson Financial Group LLC lifted its stake in shares of Avery Dennison by 100.0% in the third quarter. Larson Financial Group LLC now owns 142 shares of the industrial products company's stock worth $31,000 after buying an additional 71 shares during the last quarter. Kennebec Savings Bank acquired a new position in Avery Dennison during the 3rd quarter worth $36,000. Peterson Financial Group Inc. bought a new stake in Avery Dennison during the third quarter valued at about $39,000. Raleigh Capital Management Inc. grew its position in shares of Avery Dennison by 1,400.0% in the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the industrial products company's stock valued at $56,000 after purchasing an additional 238 shares during the last quarter. Finally, Brooklyn Investment Group bought a new position in shares of Avery Dennison in the third quarter worth about $66,000. Institutional investors own 94.17% of the company's stock.

Avery Dennison Price Performance

Shares of NYSE AVY traded up $0.81 during mid-day trading on Thursday, reaching $191.04. The company had a trading volume of 382,541 shares, compared to its average volume of 577,094. The company has a 50-day moving average price of $195.36 and a two-hundred day moving average price of $208.06. The company has a current ratio of 0.92, a quick ratio of 0.62 and a debt-to-equity ratio of 0.85. The stock has a market cap of $15.35 billion, a PE ratio of 22.93, a P/E/G ratio of 1.29 and a beta of 0.89. Avery Dennison has a 1-year low of $181.99 and a 1-year high of $233.48.

Avery Dennison (NYSE:AVY - Get Free Report) last released its earnings results on Wednesday, October 23rd. The industrial products company reported $2.33 earnings per share for the quarter, topping the consensus estimate of $2.32 by $0.01. The business had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.20 billion. Avery Dennison had a net margin of 7.76% and a return on equity of 33.01%. The firm's quarterly revenue was up 4.1% compared to the same quarter last year. During the same period last year, the firm posted $2.10 earnings per share. On average, equities analysts anticipate that Avery Dennison will post 9.41 earnings per share for the current year.

Avery Dennison Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th were given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.84%. The ex-dividend date of this dividend was Wednesday, December 4th. 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.