Avery Dennison Co. (NYSE:AVY) Given Consensus Rating of “Moderate Buy” by Analysts

Avery Dennison Co. (NYSE:AVY) has earned a consensus rating of “Moderate Buy” from the eleven research firms that are presently covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $244.96.

Several brokerages have issued reports on AVY. Truist Financial increased their price target on Avery Dennison from $253.00 to $258.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Bank of America raised shares of Avery Dennison from an “underperform” rating to a “buy” rating and boosted their target price for the stock from $207.00 to $250.00 in a research report on Thursday, October 17th. JPMorgan Chase & Co. downgraded Avery Dennison from an “overweight” rating to a “neutral” rating and cut their price target for the company from $230.00 to $210.00 in a research note on Thursday, October 24th. Stifel Nicolaus assumed coverage on Avery Dennison in a research report on Tuesday, July 9th. They set a “buy” rating and a $274.60 target price on the stock. Finally, StockNews.com downgraded shares of Avery Dennison from a “buy” rating to a “hold” rating in a report on Thursday, October 24th.

Insiders Place Their Bets

In related news, Chairman Mitchell R. Butier sold 10,000 shares of the business’s stock in a transaction dated 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 transaction, the chairman now owns 304,114 shares in the company, valued at $64,745,870.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Chairman Mitchell R. Butier sold 10,000 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $212.90, for a total value of $2,129,000.00. Following the sale, the chairman now directly owns 304,114 shares of the company’s stock, valued at $64,745,870.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Mitchell R. Butier sold 3,000 shares of the firm’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $205.76, for a total value of $617,280.00. Following the transaction, the chairman now directly owns 304,114 shares of the company’s stock, valued at $62,574,496.64. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 49,108 shares of company stock worth $10,407,587. 1.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Innealta Capital LLC bought a new stake in shares of Avery Dennison in the 2nd quarter worth $28,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Avery Dennison during the 2nd quarter valued at about $42,000. 1620 Investment Advisors Inc. purchased a new stake in Avery Dennison during the 2nd quarter valued at $51,000. Raleigh Capital Management Inc. raised its position in Avery Dennison by 1,400.0% in the 3rd 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 period. Finally, Palisade Asset Management LLC purchased a new stake in Avery Dennison in the first quarter worth $64,000. Institutional investors own 94.17% of the company’s stock.

Avery Dennison Trading Down 0.4 %

NYSE AVY opened at $206.19 on Friday. Avery Dennison has a one year low of $175.10 and a one year high of $233.48. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.92 and a quick ratio of 0.62. The business has a 50 day simple moving average of $215.91 and a 200 day simple moving average of $218.19. The stock has a market capitalization of $16.57 billion, a P/E ratio of 24.75, a P/E/G ratio of 1.60 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 for the quarter, beating the consensus estimate of $2.32 by $0.01. The company had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.20 billion. Avery Dennison had a net margin of 7.76% and a return on equity of 33.01%. Avery Dennison’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 business posted $2.10 EPS. Research analysts expect that Avery Dennison will post 9.41 earnings per share for the current year.

Avery Dennison Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be issued a dividend of $0.88 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.71%. Avery Dennison’s dividend payout ratio is currently 42.26%.

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.