UBS Group Lowers Avery Dennison (NYSE:AVY) Price Target to $207.00

Avery Dennison (NYSE:AVY - Get Free Report) had its price target decreased by equities research analysts at UBS Group from $235.00 to $207.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a "neutral" rating on the industrial products company's stock. UBS Group's target price indicates a potential upside of 11.99% from the stock's previous close.

Several other analysts also recently weighed in on AVY. JPMorgan Chase & Co. downgraded shares of Avery Dennison from an "overweight" rating to a "neutral" rating and lowered their target price for the company from $230.00 to $210.00 in a report on Thursday, October 24th. Citigroup cut their target price on shares of Avery Dennison from $228.00 to $202.00 and set a "neutral" rating for the company in a research report on Monday. Truist Financial dropped their price objective on Avery Dennison from $258.00 to $245.00 and set a "buy" rating for the company in a research report on Monday. Barclays decreased their price objective on Avery Dennison from $250.00 to $245.00 and set an "overweight" rating on the stock in a report on Monday, October 28th. Finally, Bank of America cut their price target on shares of Avery Dennison from $238.00 to $220.00 and set a "buy" rating on the stock in a research note on Monday. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, Avery Dennison presently has a consensus rating of "Moderate Buy" and a consensus price target of $235.05.

Avery Dennison Price Performance

Shares of AVY stock traded down $2.88 during trading hours on Friday, reaching $184.83. The company had a trading volume of 431,363 shares, compared to its average volume of 613,744. The stock has a fifty day moving average of $196.62 and a 200-day moving average of $208.99. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.62 and a current ratio of 0.92. The company has a market capitalization of $14.85 billion, a price-to-earnings ratio of 22.19, a PEG ratio of 1.52 and a beta of 0.89. Avery Dennison has a 12-month low of $181.99 and a 12-month high of $233.48.

Avery Dennison (NYSE:AVY - Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $2.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 business's revenue was up 4.1% on a year-over-year basis. During the same period in the previous year, the firm earned $2.10 EPS. On average, equities analysts anticipate that Avery Dennison will post 9.42 earnings per share for the current year.

Insider Activity at Avery Dennison

In related news, SVP Nicholas Colisto sold 3,679 shares of the firm's stock in a transaction on Monday, November 25th. The shares were sold at an average price of $206.00, for a total transaction of $757,874.00. Following the sale, the senior vice president now directly owns 7,126 shares in the company, valued at $1,467,956. This trade represents a 34.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.10% of the company's stock.

Institutional Investors Weigh In On Avery Dennison

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Victory Capital Management Inc. raised its position in shares of Avery Dennison by 6.8% in 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 buying an additional 90,250 shares in the last quarter. Seven Eight Capital LP acquired a new stake in Avery Dennison during the 2nd quarter worth approximately $1,271,000. Icon Wealth Advisors LLC increased its holdings in Avery Dennison by 553.5% in the third quarter. Icon Wealth Advisors LLC now owns 3,137 shares of the industrial products company's stock valued at $693,000 after purchasing an additional 2,657 shares during the period. Bank of Montreal Can increased its stake in shares of Avery Dennison by 1.9% in 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, Nordea Investment Management AB boosted its stake in shares of Avery Dennison by 485.2% in the 4th quarter. Nordea Investment Management AB now owns 35,630 shares of the industrial products company's stock valued at $6,715,000 after purchasing an additional 29,541 shares during the last quarter. 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.