BMO Capital Markets Reiterates “Outperform” Rating for Avery Dennison (NYSE:AVY)

Avery Dennison (NYSE:AVY)‘s stock had its “outperform” rating reiterated by investment analysts at BMO Capital Markets in a report issued on Thursday, Benzinga reports. They currently have a $252.00 target price on the industrial products company’s stock, down from their previous target price of $254.00. BMO Capital Markets’ price target suggests a potential upside of 19.10% from the stock’s current price.

AVY has been the subject of a number of other research reports. Stifel Nicolaus initiated coverage on Avery Dennison in a report on Tuesday, July 9th. They set a “buy” rating and a $274.60 target price for the company. UBS Group cut 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 research note on Thursday, July 25th. Citigroup boosted their target price on shares of Avery Dennison from $230.00 to $241.00 and gave the stock a “neutral” rating in a report on Monday, July 8th. Truist Financial raised their price target on shares of Avery Dennison from $253.00 to $258.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Finally, Robert W. Baird boosted their price objective on shares of Avery Dennison from $230.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, June 7th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, Avery Dennison has an average rating of “Moderate Buy” and an average price target of $239.78.

Avery Dennison Trading Down 1.9 %

Shares of NYSE AVY opened at $211.58 on Thursday. The firm has a market cap of $17.04 billion, a PE ratio of 30.89, a price-to-earnings-growth ratio of 1.81 and a beta of 0.88. The company has a quick ratio of 0.60, a current ratio of 0.90 and a debt-to-equity ratio of 0.89. Avery Dennison has a twelve month low of $165.21 and a twelve month high of $233.48. The business has a fifty day simple moving average of $215.56 and a two-hundred day simple moving average of $218.80.

Avery Dennison (NYSE:AVY) last released its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $2.42 earnings per share for the quarter, topping analysts’ consensus estimates of $2.26 by $0.16. Avery Dennison had a net margin of 7.34% and a return on equity of 33.44%. The company had revenue of $2.24 billion during the quarter, compared to analyst estimates of $2.18 billion. During the same period in the prior year, the firm earned $1.92 earnings per share. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. Analysts expect that Avery Dennison will post 9.41 earnings per share for the current fiscal year.

Insider Activity

In related news, Chairman Mitchell R. Butier sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $202.95, for a total value of $608,850.00. Following the sale, the chairman now owns 304,114 shares in the company, valued at $61,719,936.30. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, Chairman Mitchell R. Butier sold 3,000 shares of the firm’s 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 completion of the transaction, the chairman now owns 304,114 shares of the company’s stock, valued at $61,719,936.30. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Mitchell R. Butier sold 10,000 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $212.90, for a total transaction of $2,129,000.00. Following the completion of the sale, the chairman now directly owns 304,114 shares in the company, valued at $64,745,870.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 59,108 shares of company stock valued at $12,545,087. Company insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of AVY. Innealta Capital LLC purchased a new stake in Avery Dennison in the 2nd quarter worth approximately $28,000. Ashton Thomas Private Wealth LLC acquired a new stake in Avery Dennison during the second quarter valued at $42,000. 1620 Investment Advisors Inc. purchased a new position in Avery Dennison in the second quarter valued at $51,000. Palisade Asset Management LLC acquired a new position in shares of Avery Dennison in the first quarter worth about $64,000. Finally, Versant Capital Management Inc boosted its stake in shares of Avery Dennison by 936.7% during the 2nd quarter. Versant Capital Management Inc now owns 311 shares of the industrial products company’s stock worth $68,000 after acquiring an additional 281 shares in the last quarter. 94.17% of the stock is currently owned by hedge funds and other 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.