Avery Dennison (NYSE:AVY) Price Target Lowered to $220.00 at Bank of America

Avery Dennison (NYSE:AVY) had its target price decreased by Bank of America from $238.00 to $220.00 in a research report report published on Monday,Benzinga reports. Bank of America currently has a buy rating on the industrial products company’s stock.

Other analysts have also issued research reports about the company. StockNews.com lowered Avery Dennison from a “buy” rating to a “hold” rating in a report on Thursday, October 24th. Barclays lowered their target price 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. JPMorgan Chase & Co. downgraded shares of 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 report on Thursday, October 24th. Truist Financial reduced their price objective on shares of Avery Dennison from $258.00 to $245.00 and set a “buy” rating on the stock in a research report on Monday. Finally, BMO Capital Markets cut their target price on Avery Dennison from $252.00 to $247.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Avery Dennison has a consensus rating of “Moderate Buy” and an average target price of $237.60.

Avery Dennison Price Performance

AVY stock opened at $188.20 on Monday. The company has a fifty day simple moving average of $198.61 and a two-hundred day simple moving average of $210.15. Avery Dennison has a 52 week low of $181.99 and a 52 week high of $233.48. The company has a quick ratio of 0.62, a current ratio of 0.92 and a debt-to-equity ratio of 0.85. The firm 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 quarterly 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 company had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.20 billion. During the same quarter last year, the business posted $2.10 earnings per share. The firm’s revenue was up 4.1% on a year-over-year basis. Analysts anticipate that Avery Dennison will post 9.42 earnings per share for the current fiscal year.

Avery Dennison Dividend Announcement

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

Insiders Place Their Bets

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

Hedge Funds Weigh In On Avery Dennison

Several institutional investors have recently bought and sold shares of the business. Larson Financial Group LLC boosted its position in 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 acquiring an additional 71 shares in the last quarter. Kennebec Savings Bank bought a new stake in shares of Avery Dennison in the 3rd quarter valued at about $36,000. Peterson Financial Group Inc. purchased a new position in shares of Avery Dennison in the 3rd quarter worth approximately $39,000. Ashton Thomas Private Wealth LLC bought a new position in shares of Avery Dennison during the 2nd quarter worth approximately $42,000. Finally, Raleigh Capital Management Inc. lifted its position 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 during the last quarter. 94.17% of the stock is owned by hedge funds and other institutional investors.

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.