Avery Dennison Co. (NYSE:AVY) Receives $222.51 Consensus Price Target from Brokerages

Shares of Avery Dennison Co. (NYSE:AVY - Get Free Report) have been given an average rating of "Moderate Buy" by the eleven analysts that are presently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $222.51.

Several research firms have weighed in on AVY. Bank of America cut their price objective on Avery Dennison from $238.00 to $220.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. JPMorgan Chase & Co. raised Avery Dennison from a "neutral" rating to an "overweight" rating and cut their price objective for the company from $210.00 to $205.00 in a research report on Friday, January 31st. Citigroup cut their price objective on Avery Dennison from $228.00 to $202.00 and set a "neutral" rating on the stock in a research report on Monday, January 6th. Raymond James reaffirmed an "outperform" rating and set a $208.00 price objective (down from $218.00) on shares of Avery Dennison in a research report on Friday, January 31st. Finally, UBS Group cut their price objective on Avery Dennison from $235.00 to $207.00 and set a "neutral" rating on the stock in a research report on Friday, January 10th.

Avery Dennison Trading Up 0.8 %

NYSE:AVY traded up $1.54 during trading hours on Friday, reaching $183.94. The company's stock had a trading volume of 1,195,522 shares, compared to its average volume of 753,032. The firm has a market capitalization of $14.53 billion, a price-to-earnings ratio of 21.09, a PEG ratio of 2.07 and a beta of 0.85. The firm has a 50-day simple moving average of $186.11 and a 200-day simple moving average of $200.82. Avery Dennison has a 1 year low of $178.72 and a 1 year high of $233.48. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.73 and a current ratio of 1.08.

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

Avery Dennison Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be issued a $0.88 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $3.52 dividend on an annualized basis and a yield of 1.91%. Avery Dennison's payout ratio is currently 40.37%.

Insider Buying and Selling

In related news, Chairman Mitchell R. Butier sold 12,969 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the chairman now directly owns 303,331 shares in the company, valued at $55,160,742.35. The trade was a 4.10 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Avery Dennison

Hedge funds have recently added to or reduced their stakes in the company. Larson Financial Group LLC raised its stake in Avery Dennison by 100.0% during the 3rd quarter. Larson Financial Group LLC now owns 142 shares of the industrial products company's stock valued at $31,000 after buying an additional 71 shares during the last quarter. Kennebec Savings Bank bought a new position in shares of Avery Dennison during the 3rd quarter valued at about $36,000. Regents Gate Capital LLP bought a new position in shares of Avery Dennison during the 4th quarter valued at about $37,000. Peterson Financial Group Inc. purchased a new stake in shares of Avery Dennison during the 3rd quarter valued at about $39,000. Finally, Spire Wealth Management raised its position in shares of Avery Dennison by 76.0% during the 4th quarter. Spire Wealth Management now owns 301 shares of the industrial products company's stock valued at $56,000 after buying an additional 130 shares in the last quarter. 94.17% of the stock is currently owned by hedge funds and other institutional investors.

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.