Brokerages Set Avery Dennison Co. (NYSE:AVY) Price Target at $244.96

Shares of Avery Dennison Co. (NYSE:AVY) have earned a consensus rating of “Moderate Buy” from the eleven research firms that are covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $244.96.

AVY has been the topic of a number of research analyst reports. StockNews.com cut Avery Dennison from a “buy” rating to a “hold” rating in a report on Thursday, October 24th. JPMorgan Chase & Co. downgraded Avery Dennison from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $230.00 to $210.00 in a research note on Thursday, October 24th. Barclays decreased their target price on Avery Dennison from $250.00 to $245.00 and set an “overweight” rating for the company in a research report on Monday, October 28th. Citigroup cut their price target on Avery Dennison from $241.00 to $240.00 and set a “neutral” rating for the company in a report on Wednesday, October 2nd. Finally, Bank of America upgraded Avery Dennison from an “underperform” rating to a “buy” rating and upped their price target for the company from $207.00 to $250.00 in a research report on Thursday, October 17th.

Avery Dennison Stock Down 0.0 %

Shares of NYSE AVY opened at $189.35 on Friday. The stock has a 50-day moving average price of $202.12 and a two-hundred day moving average price of $212.23. The company has a market cap of $15.21 billion, a price-to-earnings ratio of 22.73, a PEG ratio of 1.52 and a beta of 0.87. The company has a current ratio of 0.92, a quick ratio of 0.62 and a debt-to-equity ratio of 0.85. Avery Dennison has a 12 month low of $185.73 and a 12 month high of $233.48.

Avery Dennison (NYSE:AVY) last announced its earnings results on Wednesday, October 23rd. The industrial products company reported $2.33 EPS for the quarter, topping the consensus estimate of $2.32 by $0.01. The firm had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.20 billion. Avery Dennison had a return on equity of 33.01% and a net margin of 7.76%. The business’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same period in the previous year, the business earned $2.10 EPS. As a group, analysts forecast that Avery Dennison will post 9.42 earnings per share for the current fiscal year.

Avery Dennison Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th were paid a $0.88 dividend. The ex-dividend date was Wednesday, December 4th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.86%. Avery Dennison’s dividend payout ratio is currently 42.26%.

Insider Buying and Selling

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 value of $757,874.00. Following 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 position. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Avery Dennison

Hedge funds and other institutional investors have recently modified their holdings of the stock. Innealta Capital LLC bought a new stake in Avery Dennison in the 2nd quarter worth approximately $28,000. Larson Financial Group LLC increased its stake in Avery Dennison by 100.0% in the 3rd 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 during the period. Kennebec Savings Bank bought a new stake in Avery Dennison during the 3rd quarter valued at about $36,000. Peterson Financial Group Inc. purchased a new position in shares of Avery Dennison during the third quarter worth approximately $39,000. Finally, Ashton Thomas Private Wealth LLC bought a new stake in shares of Avery Dennison during the second quarter valued at approximately $42,000. 94.17% of the stock is currently owned by hedge funds and other institutional investors.

About Avery Dennison

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.