Avery Dennison (NYSE:AVY) Price Target Cut to $245.00 by Analysts at Truist Financial

Avery Dennison (NYSE:AVY) had its price target lowered by Truist Financial from $258.00 to $245.00 in a research report released on Monday,Benzinga reports. The firm currently has a buy rating on the industrial products company’s stock.

Other equities research analysts have also recently issued reports about the stock. Barclays reduced their price target on shares of Avery Dennison from $250.00 to $245.00 and set an “overweight” rating for the company in a report on Monday, October 28th. Citigroup decreased their target price on Avery Dennison from $241.00 to $240.00 and set a “neutral” rating for the company in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. lowered Avery Dennison from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $230.00 to $210.00 in a report on Thursday, October 24th. BMO Capital Markets decreased their price objective on Avery Dennison from $252.00 to $247.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Finally, StockNews.com cut Avery Dennison from a “buy” rating to a “hold” rating in a report on Thursday, October 24th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $237.60.

Avery Dennison Stock Performance

Shares of AVY opened at $188.20 on Monday. The company has a current ratio of 0.92, a quick ratio of 0.62 and a debt-to-equity ratio of 0.85. The firm’s fifty day simple moving average is $198.61 and its two-hundred day simple moving average is $210.15. Avery Dennison has a 12 month low of $181.99 and a 12 month high of $233.48. The stock has a market capitalization of $15.12 billion, a P/E ratio of 22.59, a price-to-earnings-growth ratio of 1.52 and a beta of 0.89.

Avery Dennison (NYSE:AVY) last released 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. Avery Dennison had a return on equity of 33.01% and a net margin of 7.76%. The business had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.20 billion. During the same quarter last year, the firm posted $2.10 earnings per share. The firm’s revenue was up 4.1% on a year-over-year basis. As a group, analysts predict that Avery Dennison will post 9.42 EPS for the current year.

Avery Dennison Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th were issued a dividend of $0.88 per share. The ex-dividend date was Wednesday, December 4th. This represents a $3.52 dividend on an annualized basis and a yield of 1.87%. Avery Dennison’s dividend payout ratio (DPR) is presently 42.26%.

Insider Buying and Selling at Avery Dennison

In related news, SVP Nicholas Colisto sold 3,679 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $206.00, for a total value of $757,874.00. Following the sale, the senior vice president now directly owns 7,126 shares in the company, valued at approximately $1,467,956. The trade was a 34.05 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.10% of the company’s stock.

Institutional Trading of Avery Dennison

Several hedge funds and other institutional investors have recently modified their holdings of the business. Larson Financial Group LLC raised its stake in shares of Avery Dennison by 100.0% during the 3rd quarter. Larson Financial Group LLC now owns 142 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 71 shares during the period. Kennebec Savings Bank bought a new stake in shares of Avery Dennison during the third quarter valued at about $36,000. Peterson Financial Group Inc. purchased a new stake in shares of Avery Dennison in the third quarter worth about $39,000. Ashton Thomas Private Wealth LLC bought a new position in shares of Avery Dennison in the second quarter valued at approximately $42,000. Finally, Raleigh Capital Management Inc. grew its stake in Avery Dennison by 1,400.0% during the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the industrial products company’s stock valued at $56,000 after acquiring an additional 238 shares in the last quarter. Institutional investors own 94.17% of the company’s stock.

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.