Avery Dennison (NYSE:AVY) Price Target Cut to $202.00 by Analysts at Citigroup

Avery Dennison (NYSE:AVY) had its target price trimmed by Citigroup from $228.00 to $202.00 in a research report released on Monday,Benzinga reports. The firm currently has a neutral rating on the industrial products company’s stock.

A number of other research firms have also recently commented on AVY. StockNews.com cut Avery Dennison from a “buy” rating to a “hold” rating in a research note on Thursday, October 24th. JPMorgan Chase & Co. lowered shares of Avery Dennison from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $230.00 to $210.00 in a research report on Thursday, October 24th. Truist Financial dropped their target price 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. Bank of America decreased their price target on shares of Avery Dennison from $238.00 to $220.00 and set a “buy” rating for the company in a report on Monday. Finally, Barclays dropped their price objective on shares of Avery Dennison from $250.00 to $245.00 and set an “overweight” rating on the stock in a report on Monday, October 28th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Avery Dennison has an average rating of “Moderate Buy” and a consensus price target of $237.60.

Avery Dennison Stock Performance

Shares of Avery Dennison stock opened at $188.20 on Monday. Avery Dennison has a one year low of $181.99 and a one year high of $233.48. The company has a market capitalization of $15.12 billion, a PE ratio of 22.59, a P/E/G ratio of 1.52 and a beta of 0.89. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.62 and a current ratio of 0.92. The company has a 50-day simple moving average of $198.61 and a two-hundred day simple moving average of $210.15.

Avery Dennison (NYSE:AVY) last posted its quarterly earnings data 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 net margin of 7.76% and a return on equity of 33.01%. The firm had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.20 billion. During the same quarter in the previous year, the business posted $2.10 EPS. Avery Dennison’s revenue was up 4.1% on a year-over-year basis. Research analysts expect that Avery Dennison will post 9.42 EPS for the current fiscal year.

Avery Dennison Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th were given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.87%. The ex-dividend date of this dividend was Wednesday, December 4th. Avery Dennison’s dividend payout ratio is currently 42.26%.

Insiders Place Their Bets

In related news, SVP Nicholas Colisto sold 3,679 shares of the company’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 completion of the transaction, the senior vice president now owns 7,126 shares of the company’s stock, valued at approximately $1,467,956. This represents 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. Insiders own 1.10% of the company’s stock.

Institutional Trading of Avery Dennison

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Private Advisor Group LLC lifted its position in shares of Avery Dennison by 1.8% in the second quarter. Private Advisor Group LLC now owns 12,160 shares of the industrial products company’s stock valued at $2,659,000 after acquiring an additional 220 shares in the last quarter. Acadian Asset Management LLC raised its position in shares of Avery Dennison by 3,517.1% in the second quarter. Acadian Asset Management LLC now owns 80,987 shares of the industrial products company’s stock valued at $17,701,000 after buying an additional 78,748 shares during the last quarter. Caprock Group LLC boosted its position in Avery Dennison by 15.9% during the second quarter. Caprock Group LLC now owns 1,176 shares of the industrial products company’s stock worth $257,000 after acquiring an additional 161 shares during the last quarter. Varma Mutual Pension Insurance Co acquired a new position in Avery Dennison during the second quarter worth about $9,802,000. Finally, Oak Thistle LLC purchased a new stake in Avery Dennison during the 2nd quarter valued at about $484,000. 94.17% of the stock is currently 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.