Avery Dennison Co. (NYSE:AVY – Get Free Report) 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.
Check Out Our Latest Stock Analysis on AVY
Insiders Place Their Bets
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 – Get Free Report) 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.
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