Avery Dennison Co. (NYSE:AVY) Receives $244.96 Average Price Target from Analysts

Avery Dennison Co. (NYSE:AVY - Get Free Report) has received an average rating of "Moderate Buy" from the eleven ratings firms that are covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $244.96.

Several equities analysts have issued reports on the stock. Barclays lowered their target price on shares of Avery Dennison from $250.00 to $245.00 and set an "overweight" rating on the stock in a research note on Monday, October 28th. Bank of America upgraded shares of Avery Dennison from an "underperform" rating to a "buy" rating and increased their price objective for the company from $207.00 to $250.00 in a research report on Thursday, October 17th. StockNews.com downgraded shares of Avery Dennison from a "buy" rating to a "hold" rating in a research report on Thursday, October 24th. BMO Capital Markets cut their price target on Avery Dennison from $252.00 to $247.00 and set an "outperform" rating for the company in a research note on Thursday, October 24th. Finally, JPMorgan Chase & Co. lowered 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 research note on Thursday, October 24th.

Insider Transactions at Avery Dennison

In related news, SVP Nicholas Colisto sold 3,679 shares of Avery Dennison stock in a transaction dated 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 transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.10% of the company's stock.

Institutional Trading of Avery Dennison

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Victory Capital Management Inc. increased its position 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 valued at $312,772,000 after acquiring an additional 90,250 shares during the last quarter. Seven Eight Capital LP purchased a new stake in Avery Dennison in the 2nd quarter worth about $1,271,000. Icon Wealth Advisors LLC raised its position in Avery Dennison by 553.5% in the 3rd quarter. Icon Wealth Advisors LLC now owns 3,137 shares of the industrial products company's stock worth $693,000 after purchasing an additional 2,657 shares during the period. Bank of Montreal Can boosted its position in shares of Avery Dennison by 1.9% during the second quarter. Bank of Montreal Can now owns 250,213 shares of the industrial products company's stock valued at $57,581,000 after buying an additional 4,752 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Avery Dennison by 27.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,978 shares of the industrial products company's stock valued at $3,931,000 after buying an additional 3,905 shares during the last quarter. Hedge funds and other institutional investors own 94.17% of the company's stock.

Avery Dennison Stock Up 1.0 %

Shares of NYSE AVY traded up $1.87 during midday trading on Friday, hitting $188.13. The stock had a trading volume of 1,308,832 shares, compared to its average volume of 480,055. The business's 50 day moving average is $203.88 and its 200-day moving average is $212.92. Avery Dennison has a 52 week low of $185.73 and a 52 week high of $233.48. 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 company has a market cap of $15.12 billion, a P/E ratio of 22.58, a PEG ratio of 1.52 and a beta of 0.87.

Avery Dennison (NYSE:AVY - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $2.33 earnings per share (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 business had revenue of $2.18 billion for the quarter, compared to analysts' expectations of $2.20 billion. During the same period in the prior year, the firm posted $2.10 EPS. The firm's quarterly revenue was up 4.1% on a year-over-year basis. As a group, analysts predict that Avery Dennison will post 9.42 EPS for the current year.

Avery Dennison Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th were paid a dividend of $0.88 per share. The ex-dividend date of this dividend was Wednesday, December 4th. This represents a $3.52 annualized dividend and a yield of 1.87%. 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.