Avery Dennison (NYSE:AVY) Updates FY 2024 Earnings Guidance

Avery Dennison (NYSE:AVY) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 9.350-9.500 for the period, compared to the consensus earnings per share estimate of 9.430. The company issued revenue guidance of -.

Analyst Ratings Changes

Several research firms have recently weighed in on AVY. Stifel Nicolaus started coverage on shares of Avery Dennison in a research report on Tuesday, July 9th. They set a “buy” rating and a $274.60 price objective on the stock. Citigroup lowered their price target on Avery Dennison from $241.00 to $240.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 2nd. Bank of America raised Avery Dennison from an “underperform” rating to a “buy” rating and lifted their price target for the stock from $207.00 to $250.00 in a research note on Thursday, October 17th. Truist Financial increased their price objective on Avery Dennison from $253.00 to $258.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Finally, Barclays started coverage on Avery Dennison in a research note on Monday, October 7th. They issued an “overweight” rating and a $250.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Avery Dennison has a consensus rating of “Moderate Buy” and an average price target of $245.42.

Avery Dennison Trading Down 1.4 %

Shares of Avery Dennison stock traded down $2.95 on Thursday, hitting $204.70. The stock had a trading volume of 194,620 shares, compared to its average volume of 461,143. The stock’s 50-day simple moving average is $217.00 and its two-hundred day simple moving average is $218.62. Avery Dennison has a one year low of $165.21 and a one year high of $233.48. The company has a quick ratio of 0.60, a current ratio of 0.90 and a debt-to-equity ratio of 0.89. The stock has a market cap of $16.49 billion, a price-to-earnings ratio of 29.82, a PEG ratio of 1.78 and a beta of 0.88.

Avery Dennison (NYSE:AVY) last released its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $2.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.32 by $0.01. The firm had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.20 billion. Avery Dennison had a net margin of 7.34% and a return on equity of 33.44%. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.10 earnings per share. As a group, sell-side analysts predict that Avery Dennison will post 9.41 EPS for the current year.

Insider Buying and Selling at Avery Dennison

In related news, Chairman Mitchell R. Butier sold 10,000 shares of Avery Dennison stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $213.75, for a total transaction of $2,137,500.00. Following the completion of the transaction, the chairman now directly owns 304,114 shares of the company’s stock, valued at $65,004,367.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Chairman Mitchell R. Butier sold 3,000 shares of Avery Dennison stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $205.76, for a total value of $617,280.00. Following the completion of the transaction, the chairman now owns 304,114 shares of the company’s stock, valued at $62,574,496.64. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Mitchell R. Butier sold 10,000 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $213.75, for a total transaction of $2,137,500.00. Following the sale, the chairman now directly owns 304,114 shares in the company, valued at $65,004,367.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 59,108 shares of company stock valued at $12,545,087. 1.10% of the stock is currently owned by corporate insiders.

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.