Barclays Cuts Avery Dennison (NYSE:AVY) Price Target to $225.00

Avery Dennison (NYSE:AVY) had its price target lowered by Barclays from $245.00 to $225.00 in a research report report published on Monday,Benzinga reports. The firm currently has an overweight rating on the industrial products company’s stock.

A number of other brokerages also recently issued reports on AVY. UBS Group reduced their price target on Avery Dennison from $235.00 to $207.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. Bank of America reduced 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. Raymond James reiterated an “outperform” rating and issued a $208.00 price target (down previously from $218.00) on shares of Avery Dennison in a report on Friday, January 31st. BMO Capital Markets reduced their price objective on shares of Avery Dennison from $252.00 to $247.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $215.00 target price (down from $245.00) on shares of Avery Dennison in a research report on Friday, January 31st. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $227.15.

Avery Dennison Stock Performance

Shares of AVY stock opened at $184.54 on Monday. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.73 and a current ratio of 1.08. Avery Dennison has a fifty-two week low of $179.20 and a fifty-two week high of $233.48. The company has a market capitalization of $14.83 billion, a P/E ratio of 21.16, a PEG ratio of 1.37 and a beta of 0.89. The stock has a 50 day moving average price of $192.28 and a two-hundred day moving average price of $205.33.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.38 earnings per share for the quarter, missing the consensus estimate of $2.39 by ($0.01). Avery Dennison had a net margin of 8.05% and a return on equity of 33.06%. Analysts expect that Avery Dennison will post 10.03 earnings per share for the current year.

Avery Dennison Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date is Wednesday, March 5th. Avery Dennison’s dividend payout ratio (DPR) is presently 40.37%.

Insider Activity

In other news, SVP Nicholas Colisto sold 3,679 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was 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 directly owns 7,126 shares in the company, valued at $1,467,956. This trade represents a 34.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Avery Dennison

A number of hedge funds have recently bought and sold shares of the company. Larson Financial Group LLC lifted its stake in shares of Avery Dennison by 100.0% in the third quarter. Larson Financial Group LLC now owns 142 shares of the industrial products company’s stock worth $31,000 after buying an additional 71 shares in the last quarter. Kennebec Savings Bank purchased a new position in Avery Dennison in the 3rd quarter worth approximately $36,000. Peterson Financial Group Inc. bought a new position in Avery Dennison in the 3rd quarter valued at approximately $39,000. Regents Gate Capital LLP purchased a new stake in Avery Dennison during the 4th quarter valued at $37,000. Finally, Raleigh Capital Management Inc. raised its stake in shares of Avery Dennison by 1,400.0% in the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the industrial products company’s stock worth $56,000 after purchasing an additional 238 shares during 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.