Truist Financial Lowers Avery Dennison (NYSE:AVY) Price Target to $210.00

Avery Dennison (NYSE:AVY - Get Free Report) had its price objective lowered by equities researchers at Truist Financial from $215.00 to $210.00 in a note issued to investors on Tuesday, MarketBeat Ratings reports. The firm presently has a "buy" rating on the industrial products company's stock. Truist Financial's price objective would suggest a potential upside of 23.05% from the stock's current price.

A number of other research firms also recently weighed in on AVY. Barclays dropped their price target on shares of Avery Dennison from $245.00 to $225.00 and set an "overweight" rating for the company in a research note on Monday, February 3rd. JPMorgan Chase & Co. raised Avery Dennison from a "neutral" rating to an "overweight" rating and decreased their price objective for the stock from $210.00 to $205.00 in a research note on Friday, January 31st. Bank of America cut their target price on Avery Dennison from $238.00 to $220.00 and set a "buy" rating on the stock in a research note on Monday, January 6th. BMO Capital Markets set a $226.00 target price on Avery Dennison in a research report on Monday, February 3rd. Finally, Citigroup cut their price target on shares of Avery Dennison from $228.00 to $202.00 and set a "neutral" rating on the stock in a research report on Monday, January 6th. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Avery Dennison currently has an average rating of "Moderate Buy" and an average price target of $209.80.

Avery Dennison Trading Down 1.7 %

AVY stock traded down $2.96 during trading on Tuesday, hitting $170.67. The company had a trading volume of 134,637 shares, compared to its average volume of 591,458. The stock has a market cap of $13.40 billion, a price-to-earnings ratio of 19.57, a PEG ratio of 2.07 and a beta of 0.85. The company has a quick ratio of 0.73, a current ratio of 1.08 and a debt-to-equity ratio of 1.10. The firm has a 50-day moving average price of $176.76 and a 200-day moving average price of $190.10. Avery Dennison has a 12 month low of $157.00 and a 12 month high of $233.48.

Avery Dennison (NYSE:AVY - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The industrial products company reported $2.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.32 by ($0.02). The firm had revenue of $2.15 billion for the quarter, compared to analyst estimates of $2.15 billion. Avery Dennison had a net margin of 8.05% and a return on equity of 33.06%. As a group, analysts predict that Avery Dennison will post 9.96 earnings per share for the current year.

Insiders Place Their Bets

In other news, Chairman Mitchell R. Butier sold 8,068 shares of the company's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $186.19, for a total transaction of $1,502,180.92. Following the completion of the transaction, the chairman now directly owns 316,300 shares of the company's stock, valued at $58,891,897. This represents a 2.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.84% of the company's stock.

Institutional Investors Weigh In On Avery Dennison

Several institutional investors have recently bought and sold shares of AVY. Regents Gate Capital LLP acquired a new stake in shares of Avery Dennison in the fourth quarter valued at approximately $37,000. American National Bank & Trust acquired a new stake in Avery Dennison in the 1st quarter valued at $49,000. Spire Wealth Management lifted its position in Avery Dennison by 76.0% during the 4th quarter. Spire Wealth Management now owns 301 shares of the industrial products company's stock worth $56,000 after buying an additional 130 shares in the last quarter. VisionPoint Advisory Group LLC acquired a new position in shares of Avery Dennison during the 4th quarter worth about $68,000. Finally, AdvisorNet Financial Inc grew its holdings in shares of Avery Dennison by 18.8% in 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 in the last quarter. Institutional investors own 94.17% of the company's stock.

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.