Avery Dennison Co. (NYSE:AVY) Given Average Recommendation of “Moderate Buy” by Brokerages

Avery Dennison Co. (NYSE:AVY) has been given a consensus recommendation of “Moderate Buy” by the eleven ratings firms that are covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $244.96.

Several research firms recently issued reports on AVY. JPMorgan Chase & Co. cut shares of 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. Bank of America raised Avery Dennison from an “underperform” rating to a “buy” rating and raised their price target for the company from $207.00 to $250.00 in a report on Thursday, October 17th. BMO Capital Markets dropped their price objective on Avery Dennison from $252.00 to $247.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Barclays reduced their target price on Avery Dennison from $250.00 to $245.00 and set an “overweight” rating for the company in a report on Monday, October 28th. Finally, Citigroup lowered their price target on shares of Avery Dennison from $241.00 to $240.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 2nd.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of AVY. Tidal Investments LLC increased its position in Avery Dennison by 13.7% during the 3rd quarter. Tidal Investments LLC now owns 5,957 shares of the industrial products company’s stock worth $1,315,000 after purchasing an additional 716 shares in the last quarter. Wilmington Savings Fund Society FSB boosted its stake in shares of Avery Dennison by 384.6% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 6,203 shares of the industrial products company’s stock worth $1,369,000 after purchasing an additional 4,923 shares during the last quarter. World Investment Advisors LLC grew its holdings in shares of Avery Dennison by 17.4% during the third quarter. World Investment Advisors LLC now owns 3,953 shares of the industrial products company’s stock worth $873,000 after buying an additional 587 shares in the last quarter. Anchor Investment Management LLC raised its position in shares of Avery Dennison by 256.3% in the third quarter. Anchor Investment Management LLC now owns 766 shares of the industrial products company’s stock valued at $169,000 after buying an additional 551 shares during the last quarter. Finally, Virtu Financial LLC purchased a new position in shares of Avery Dennison during the third quarter valued at approximately $381,000. 94.17% of the stock is owned by hedge funds and other institutional investors.

Avery Dennison Stock Down 1.6 %

Avery Dennison stock opened at $204.71 on Wednesday. The stock has a 50 day moving average of $210.21 and a two-hundred day moving average of $216.41. Avery Dennison has a twelve month low of $187.93 and a twelve month high of $233.48. The stock has a market capitalization of $16.45 billion, a price-to-earnings ratio of 24.58, a PEG ratio of 1.56 and a beta of 0.89. The company has a current ratio of 0.92, a quick ratio of 0.62 and a debt-to-equity ratio of 0.85.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $2.33 earnings per share for the quarter, topping the consensus estimate of $2.32 by $0.01. The firm had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.20 billion. Avery Dennison had a return on equity of 33.01% and a net margin of 7.76%. The company’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same period last year, the company earned $2.10 earnings per share. As a group, research analysts expect that Avery Dennison will post 9.42 earnings per share for the current year.

Avery Dennison Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be issued a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.72%. The ex-dividend date is Wednesday, December 4th. Avery Dennison’s dividend payout ratio (DPR) is presently 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.