Avery Dennison’s (AVY) “Outperform” Rating Reaffirmed at Raymond James

Avery Dennison (NYSE:AVY)‘s stock had its “outperform” rating reissued by equities research analysts at Raymond James in a research report issued to clients and investors on Friday,Benzinga reports. They presently have a $208.00 price objective on the industrial products company’s stock, down from their prior price objective of $218.00. Raymond James’ target price suggests a potential upside of 11.53% from the company’s current price.

A number of other research analysts have also issued reports on the stock. UBS Group decreased their target price on shares of Avery Dennison from $235.00 to $207.00 and set a “neutral” rating on the stock in a research report on Friday, January 10th. Barclays dropped their price objective on shares of Avery Dennison from $250.00 to $245.00 and set an “overweight” rating for the company in a research note on Monday, October 28th. StockNews.com downgraded shares of Avery Dennison from a “buy” rating to a “hold” rating in a research note on Thursday, October 24th. BMO Capital Markets dropped their price objective on shares of Avery Dennison from $252.00 to $247.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Finally, JPMorgan Chase & Co. raised shares of Avery Dennison from a “neutral” rating to an “overweight” rating and dropped their price objective for the company from $210.00 to $205.00 in a research note on Friday. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Avery Dennison has an average rating of “Moderate Buy” and an average target price of $228.96.

Avery Dennison Stock Performance

AVY traded up $4.01 on Friday, reaching $186.50. The company had a trading volume of 557,989 shares, compared to its average volume of 731,092. Avery Dennison has a fifty-two week low of $179.20 and a fifty-two week high of $233.48. The stock has a market cap of $14.99 billion, a P/E ratio of 22.36, a P/E/G ratio of 1.38 and a beta of 0.89. The company’s fifty day moving average is $193.54 and its 200 day moving average is $206.34. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.62 and a current ratio of 0.92.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.38 EPS for the quarter, missing analysts’ consensus estimates of $2.39 by ($0.01). Avery Dennison had a net margin of 7.76% and a return on equity of 33.01%. As a group, analysts predict that Avery Dennison will post 9.41 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP Nicholas Colisto sold 3,679 shares of Avery Dennison stock in a transaction on Monday, November 25th. The shares were sold at an average price of $206.00, for a total transaction of $757,874.00. Following the completion of the transaction, the senior vice president now owns 7,126 shares of the company’s stock, valued at $1,467,956. This trade represents a 34.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Avery Dennison

A number of large investors have recently bought and sold shares of the stock. Allworth Financial LP grew its holdings in Avery Dennison by 127.6% in the fourth quarter. Allworth Financial LP now owns 1,957 shares of the industrial products company’s stock worth $373,000 after purchasing an additional 1,097 shares during the period. Figure 8 Investment Strategies LLC acquired a new stake in Avery Dennison in the fourth quarter worth $1,461,000. Vontobel Holding Ltd. grew its holdings in Avery Dennison by 11.7% in the fourth quarter. Vontobel Holding Ltd. now owns 1,434 shares of the industrial products company’s stock worth $268,000 after purchasing an additional 150 shares during the period. Howard Bailey Securities LLC grew its holdings in Avery Dennison by 41.6% in the fourth quarter. Howard Bailey Securities LLC now owns 2,134 shares of the industrial products company’s stock worth $399,000 after purchasing an additional 627 shares during the period. Finally, Van ECK Associates Corp grew its holdings in Avery Dennison by 9.8% in the fourth quarter. Van ECK Associates Corp now owns 14,521 shares of the industrial products company’s stock worth $2,717,000 after purchasing an additional 1,302 shares during the period. 94.17% of the stock is currently owned by institutional investors and hedge funds.

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.