Raymond James Lowers Avery Dennison (NYSE:AVY) Price Target to $194.00

Avery Dennison (NYSE:AVY - Free Report) had its price objective decreased by Raymond James from $208.00 to $194.00 in a research report sent to investors on Tuesday morning,Benzinga reports. Raymond James currently has an outperform rating on the industrial products company's stock.

Other research analysts have also recently issued reports about the stock. JPMorgan Chase & Co. raised shares of Avery Dennison from a "neutral" rating to an "overweight" rating and decreased their target price for the stock from $210.00 to $205.00 in a report on Friday, January 31st. Barclays decreased their price objective on shares of Avery Dennison from $245.00 to $225.00 and set an "overweight" rating for the company in a report on Monday, February 3rd. Citigroup cut their target price on Avery Dennison from $228.00 to $202.00 and set a "neutral" rating on the stock in a research note on Monday, January 6th. Robert W. Baird set a $220.00 price target on Avery Dennison in a research note on Friday, January 31st. Finally, Jefferies Financial Group initiated coverage on Avery Dennison in a research report on Tuesday. They set a "hold" rating and a $175.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $209.80.

Avery Dennison Stock Down 1.7 %

Shares of AVY traded down $2.98 during mid-day trading on Tuesday, reaching $170.64. The company had a trading volume of 134,637 shares, compared to its average volume of 591,458. Avery Dennison has a 52 week low of $157.00 and a 52 week 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. The company has a market capitalization of $13.40 billion, a price-to-earnings ratio of 19.57, a price-to-earnings-growth ratio of 2.07 and a beta of 0.85. The firm has a 50-day moving average price of $176.76 and a 200 day moving average price of $190.10.

Avery Dennison (NYSE:AVY - Get Free Report) last released its earnings results on Wednesday, April 23rd. The industrial products company reported $2.30 EPS for the quarter, missing analysts' consensus estimates of $2.32 by ($0.02). The company had revenue of $2.15 billion during the quarter, compared to analysts' expectations of $2.15 billion. Avery Dennison had a return on equity of 33.06% and a net margin of 8.05%. On average, sell-side analysts forecast that Avery Dennison will post 9.96 EPS for the current year.

Avery Dennison Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were paid a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 2.06%. The ex-dividend date was Wednesday, March 5th. Avery Dennison's dividend payout ratio (DPR) is presently 40.37%.

Insider Activity at Avery Dennison

In other Avery Dennison news, Chairman Mitchell R. Butier sold 8,068 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $186.19, for a total value of $1,502,180.92. Following the transaction, the chairman now directly owns 316,300 shares in the company, valued at approximately $58,891,897. This trade represents a 2.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.84% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Avery Dennison

Hedge funds and other institutional investors have recently modified their holdings of the stock. Regents Gate Capital LLP purchased a new position in Avery Dennison during the fourth quarter valued at $37,000. American National Bank & Trust purchased a new position in shares of Avery Dennison during the 1st quarter valued at about $49,000. Spire Wealth Management lifted 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. AdvisorNet Financial Inc grew its stake in shares of Avery Dennison by 18.8% during the 4th quarter. AdvisorNet Financial Inc now owns 367 shares of the industrial products company's stock valued at $69,000 after acquiring an additional 58 shares during the period. Finally, VisionPoint Advisory Group LLC purchased a new stake in Avery Dennison in the 4th quarter worth approximately $68,000. 94.17% of the stock is currently owned by hedge funds and other institutional investors.

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.