Barclays Lowers Avery Dennison (NYSE:AVY) Price Target to $245.00

Avery Dennison (NYSE:AVY) had its target price cut by stock analysts at Barclays from $250.00 to $245.00 in a report issued on Monday, Benzinga reports. The firm currently has an “overweight” rating on the industrial products company’s stock. Barclays‘s price objective would suggest a potential upside of 18.82% from the stock’s previous close.

Several other research analysts also recently commented on the company. BMO Capital Markets reduced their target price on Avery Dennison from $252.00 to $247.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Citigroup reduced their price objective on Avery Dennison from $241.00 to $240.00 and set a “neutral” rating on the stock in a report on Wednesday, October 2nd. JPMorgan Chase & Co. downgraded Avery Dennison from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $230.00 to $210.00 in a report on Thursday, October 24th. Truist Financial upped their price objective on Avery Dennison from $253.00 to $258.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Finally, StockNews.com downgraded Avery Dennison from a “buy” rating to a “hold” rating in a report on Thursday, October 24th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $244.96.

Avery Dennison Stock Down 0.4 %

Shares of AVY opened at $206.19 on Monday. The company has a market capitalization of $16.61 billion, a P/E ratio of 30.10, a PEG ratio of 1.78 and a beta of 0.88. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.90 and a quick ratio of 0.60. Avery Dennison has a one year low of $170.42 and a one year high of $233.48. The business’s 50 day simple moving average is $216.50 and its 200-day simple moving average is $218.38.

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 business 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 33.44% and a net margin of 7.34%. Avery Dennison’s 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, sell-side analysts predict that Avery Dennison will post 9.41 EPS for the current fiscal year.

Insider Transactions at Avery Dennison

In other news, Chairman Mitchell R. Butier sold 7,108 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $218.12, for a total value of $1,550,396.96. Following the transaction, the chairman now directly owns 304,114 shares in the company, valued at $66,333,345.68. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Chairman Mitchell R. Butier sold 7,108 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $218.12, for a total transaction of $1,550,396.96. Following the sale, the chairman now owns 304,114 shares of the company’s stock, valued at approximately $66,333,345.68. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Mitchell R. Butier sold 3,000 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $202.95, for a total value of $608,850.00. Following the sale, the chairman now directly owns 304,114 shares in the company, valued at $61,719,936.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 59,108 shares of company stock worth $12,545,087 in the last three months. Insiders own 1.10% of the company’s stock.

Institutional Trading of Avery Dennison

Several hedge funds have recently added to or reduced their stakes in the business. Taylor Frigon Capital Management LLC raised its stake in Avery Dennison by 0.8% during the 1st quarter. Taylor Frigon Capital Management LLC now owns 6,386 shares of the industrial products company’s stock worth $1,426,000 after buying an additional 48 shares during the period. Intech Investment Management LLC raised its stake in shares of Avery Dennison by 3.3% in the 2nd quarter. Intech Investment Management LLC now owns 1,559 shares of the industrial products company’s stock valued at $341,000 after purchasing an additional 50 shares during the period. Procyon Advisors LLC raised its stake in shares of Avery Dennison by 4.0% in the 3rd quarter. Procyon Advisors LLC now owns 1,442 shares of the industrial products company’s stock valued at $319,000 after purchasing an additional 56 shares during the period. Bailard Inc. raised its stake in shares of Avery Dennison by 0.5% in the 2nd quarter. Bailard Inc. now owns 12,202 shares of the industrial products company’s stock valued at $2,668,000 after purchasing an additional 61 shares during the period. Finally, Legacy Wealth Asset Management LLC raised its stake in shares of Avery Dennison by 4.5% in the 3rd quarter. Legacy Wealth Asset Management LLC now owns 1,479 shares of the industrial products company’s stock valued at $327,000 after purchasing an additional 64 shares during the period. Institutional investors and hedge funds 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.