Avery Dennison (NYSE:AVY) Rating Reiterated by Raymond James

Avery Dennison (NYSE:AVY)‘s stock had its “outperform” rating reiterated by equities research analysts at Raymond James in a research report issued on Thursday, Benzinga reports. They presently have a $240.00 price target on the industrial products company’s stock, up from their previous price target of $225.00. Raymond James’ price objective would indicate a potential upside of 11.60% from the company’s current price.

AVY has been the subject of several other research reports. JPMorgan Chase & Co. upped their price target on Avery Dennison from $185.00 to $218.00 and gave the stock an “overweight” rating in a research note on Thursday, February 1st. Citigroup upped their price target on Avery Dennison from $223.00 to $234.00 and gave the stock a “neutral” rating in a research note on Thursday, April 4th. Robert W. Baird raised their target price on Avery Dennison from $215.00 to $230.00 and gave the company an “outperform” rating in a report on Thursday. Bank of America downgraded Avery Dennison from a “buy” rating to an “underperform” rating and set a $208.00 target price on the stock. in a report on Tuesday, January 2nd. Finally, Truist Financial restated a “buy” rating and set a $249.00 price objective on shares of Avery Dennison in a research note on Friday, January 19th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $223.40.

Avery Dennison Stock Performance

NYSE AVY traded up $2.64 on Thursday, reaching $215.06. The stock had a trading volume of 233,739 shares, compared to its average volume of 438,456. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.69 and a current ratio of 1.04. Avery Dennison has a 12-month low of $158.93 and a 12-month high of $225.26. The business’s 50-day moving average price is $215.34 and its 200 day moving average price is $200.01. The stock has a market cap of $17.32 billion, a P/E ratio of 34.70, a price-to-earnings-growth ratio of 3.26 and a beta of 0.90.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings data on Wednesday, January 31st. The industrial products company reported $2.16 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.16. Avery Dennison had a return on equity of 30.97% and a net margin of 6.01%. The company had revenue of $2.11 billion during the quarter, compared to analysts’ expectations of $2.10 billion. During the same quarter in the previous year, the business earned $1.65 earnings per share. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. As a group, equities analysts expect that Avery Dennison will post 9.26 earnings per share for the current year.

Insider Transactions at Avery Dennison

In other news, Director Julia A. Stewart sold 5,311 shares of Avery Dennison stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $202.26, for a total value of $1,074,202.86. Following the completion of the transaction, the director now owns 5,018 shares in the company, valued at approximately $1,014,940.68. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Julia A. Stewart sold 5,311 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $202.26, for a total transaction of $1,074,202.86. Following the completion of the transaction, the director now directly owns 5,018 shares in the company, valued at approximately $1,014,940.68. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Ignacio J. Walker sold 5,000 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $213.90, for a total value of $1,069,500.00. Following the transaction, the senior vice president now owns 6,102 shares of the company’s stock, valued at $1,305,217.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,879 shares of company stock worth $4,217,705. 1.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in AVY. Annis Gardner Whiting Capital Advisors LLC acquired a new position in Avery Dennison during the 3rd quarter worth $32,000. Milestone Investment Advisors LLC acquired a new stake in shares of Avery Dennison in the third quarter valued at $36,000. Anchor Investment Management LLC acquired a new stake in shares of Avery Dennison in the fourth quarter valued at $42,000. VisionPoint Advisory Group LLC acquired a new stake in shares of Avery Dennison in the fourth quarter valued at $42,000. Finally, Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in shares of Avery Dennison by 164.4% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 267 shares of the industrial products company’s stock valued at $54,000 after buying an additional 166 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.