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

Shares of Avery Dennison Co. (NYSE:AVY - Get Free Report) have been given an average recommendation of "Moderate Buy" by the eleven brokerages that are presently covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $244.96.

AVY has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. downgraded shares of Avery Dennison from an "overweight" rating to a "neutral" rating and decreased their price target for the stock from $230.00 to $210.00 in a research report on Thursday, October 24th. StockNews.com downgraded shares of Avery Dennison from a "buy" rating to a "hold" rating in a research report on Thursday, October 24th. Stifel Nicolaus initiated coverage on shares of Avery Dennison in a research report on Tuesday, July 9th. They set a "buy" rating and a $274.60 price target for the company. BMO Capital Markets decreased their price target 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. Finally, UBS Group downgraded shares of Avery Dennison from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $262.00 to $235.00 in a report on Thursday, July 25th.

Insider Buying and Selling at Avery Dennison

In other Avery Dennison news, Chairman Mitchell R. Butier sold 7,108 shares of the firm's stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $218.12, for a total value of $1,550,396.96. Following the sale, the chairman now directly owns 304,114 shares in the company, valued at approximately $66,333,345.68. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Avery Dennison news, Chairman Mitchell R. Butier sold 7,108 shares of the business's stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $218.12, for a total transaction of $1,550,396.96. Following the sale, the chairman now directly owns 304,114 shares in the company, valued at approximately $66,333,345.68. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Mitchell R. Butier sold 10,000 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $214.21, for a total transaction of $2,142,100.00. Following the completion of the transaction, the chairman now owns 304,114 shares of the company's stock, valued at $65,144,259.94. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 49,108 shares of company stock worth $10,407,587. 1.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Avery Dennison

Several hedge funds have recently modified their holdings of the company. Intech Investment Management LLC increased its position in shares of Avery Dennison by 3.3% during the 2nd quarter. Intech Investment Management LLC now owns 1,559 shares of the industrial products company's stock valued at $341,000 after purchasing an additional 50 shares during the period. Procyon Advisors LLC increased its position in shares of Avery Dennison by 4.0% during the 3rd quarter. Procyon Advisors LLC now owns 1,442 shares of the industrial products company's stock valued at $319,000 after purchasing an additional 56 shares during the period. Bailard Inc. increased its position in shares of Avery Dennison by 0.5% during the 2nd quarter. Bailard Inc. now owns 12,202 shares of the industrial products company's stock valued at $2,668,000 after purchasing an additional 61 shares during the period. Legacy Wealth Asset Management LLC increased its position in shares of Avery Dennison by 4.5% during the 3rd quarter. Legacy Wealth Asset Management LLC now owns 1,479 shares of the industrial products company's stock valued at $327,000 after purchasing an additional 64 shares during the period. Finally, Great Diamond Partners LLC increased its position in shares of Avery Dennison by 1.7% during the 1st quarter. Great Diamond Partners LLC now owns 4,269 shares of the industrial products company's stock valued at $953,000 after purchasing an additional 72 shares during the period. 94.17% of the stock is currently owned by institutional investors and hedge funds.

Avery Dennison Stock Down 0.4 %

NYSE:AVY traded down $0.92 during trading hours on Friday, hitting $206.11. The stock had a trading volume of 389,108 shares, compared to its average volume of 466,778. The company has a current ratio of 0.92, a quick ratio of 0.62 and a debt-to-equity ratio of 0.85. Avery Dennison has a 1-year low of $175.10 and a 1-year high of $233.48. The business has a 50 day simple moving average of $215.91 and a two-hundred day simple moving average of $218.24. The company has a market cap of $16.56 billion, a PE ratio of 24.74, a price-to-earnings-growth ratio of 1.60 and a beta of 0.88.

Avery Dennison (NYSE:AVY - Get Free Report) last issued 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 net margin of 7.76% and a return on equity of 33.01%. The company had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.20 billion. During the same quarter last year, the company earned $2.10 earnings per share. Avery Dennison's revenue for the quarter was up 4.1% on a year-over-year basis. Analysts predict that Avery Dennison will post 9.41 EPS for the current year.

Avery Dennison Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date of this dividend is 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.