Barclays Lowers Avery Dennison (NYSE:AVY) Price Target to $245.00

Avery Dennison (NYSE:AVY - Get Free Report) had its price objective lowered by equities researchers at Barclays from $250.00 to $245.00 in a report released on Monday, Benzinga reports. The firm currently has an "overweight" rating on the industrial products company's stock. Barclays's price target would suggest a potential upside of 18.23% from the stock's current price.

AVY has been the topic of several other research reports. Stifel Nicolaus assumed coverage on Avery Dennison in a report on Tuesday, July 9th. They issued a "buy" rating and a $274.60 price objective on the stock. Truist Financial boosted their price objective on shares of Avery Dennison from $253.00 to $258.00 and gave the stock a "buy" rating in a report on Wednesday, July 24th. Citigroup cut their price objective on Avery Dennison from $241.00 to $240.00 and set a "neutral" rating for the company in a report on Wednesday, October 2nd. StockNews.com lowered Avery Dennison from a "buy" rating to a "hold" rating in a research note on Thursday. Finally, Bank of America upgraded Avery Dennison from an "underperform" rating to a "buy" rating and boosted their target price for the stock from $207.00 to $250.00 in a research report on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $244.96.

Avery Dennison Stock Up 0.0 %

Shares of NYSE AVY traded up $0.07 during mid-day trading on Monday, reaching $207.23. 598,863 shares of the company's stock traded hands, compared to its average volume of 466,467. The business has a 50-day simple moving average of $216.73 and a 200 day simple moving average of $218.47. The stock has a market cap of $16.69 billion, a P/E ratio of 30.32, a PEG ratio of 1.78 and a beta of 0.88. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.90 and a quick ratio of 0.60. Avery Dennison has a 1-year low of $170.42 and a 1-year high of $233.48.

Avery Dennison (NYSE:AVY - Get Free Report) last issued its earnings results 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. The firm had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.20 billion. Avery Dennison had a return on equity of 33.44% and a net margin of 7.34%. The business's revenue was up 4.1% on a year-over-year basis. During the same period in the previous year, the company posted $2.10 earnings per share. On average, analysts expect that Avery Dennison will post 9.41 EPS for the current fiscal year.

Insider Transactions at Avery Dennison

In other news, Chairman Mitchell R. Butier sold 3,000 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $202.95, for a total transaction of $608,850.00. Following the sale, the chairman now directly owns 304,114 shares in the company, valued at approximately $61,719,936.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Chairman Mitchell R. Butier sold 10,000 shares of the firm's stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $213.75, for a total value of $2,137,500.00. Following the completion of the sale, the chairman now owns 304,114 shares of the company's stock, valued at $65,004,367.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Mitchell R. Butier sold 3,000 shares of Avery Dennison stock in a transaction on Monday, August 5th. The shares were sold at an average price of $202.95, for a total transaction of $608,850.00. Following the sale, the chairman now directly owns 304,114 shares of the company's stock, valued at $61,719,936.30. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 59,108 shares of company stock worth $12,545,087. 1.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Avery Dennison

Several large investors have recently modified their holdings of the company. Taylor Frigon Capital Management LLC grew its holdings in shares of Avery Dennison by 0.8% during the 1st quarter. Taylor Frigon Capital Management LLC now owns 6,386 shares of the industrial products company's stock worth $1,426,000 after purchasing an additional 48 shares in the last quarter. Intech Investment Management LLC lifted its position in Avery Dennison by 3.3% in the second quarter. Intech Investment Management LLC now owns 1,559 shares of the industrial products company's stock worth $341,000 after purchasing an additional 50 shares during the period. Procyon Advisors LLC increased its holdings in Avery Dennison by 4.0% in the 3rd quarter. Procyon Advisors LLC now owns 1,442 shares of the industrial products company's stock valued at $319,000 after buying an additional 56 shares during the period. Bailard Inc. raised its stake in shares of Avery Dennison by 0.5% in the 2nd quarter. Bailard Inc. now owns 12,202 shares of the industrial products company's stock valued at $2,668,000 after buying an additional 61 shares in the last quarter. Finally, Legacy Wealth Asset Management LLC lifted its holdings 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 worth $327,000 after acquiring an additional 64 shares during the period. 94.17% of the stock is owned by 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.