Analysts Set Avery Dennison Co. (NYSE:AVY) Target Price at $239.96

Avery Dennison Co. (NYSE:AVY) has received a consensus rating of “Moderate Buy” from the eleven brokerages that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $239.96.

AVY has been the topic of several analyst reports. Truist Financial raised their target price on Avery Dennison from $253.00 to $258.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Robert W. Baird lifted their price objective on shares of Avery Dennison from $230.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, June 7th. UBS Group lowered shares of Avery Dennison from a “buy” rating to a “neutral” rating and decreased their target price for the company from $262.00 to $235.00 in a research report on Thursday, July 25th. Stifel Nicolaus started coverage on shares of Avery Dennison in a research report on Tuesday, July 9th. They set a “buy” rating and a $274.60 price target on the stock. Finally, Citigroup increased their price objective on shares of Avery Dennison from $230.00 to $241.00 and gave the company a “neutral” rating in a report on Monday, July 8th.

Insider Transactions at Avery Dennison

In related news, Chairman Mitchell R. Butier sold 10,000 shares of Avery Dennison stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $213.75, for a total value of $2,137,500.00. Following the transaction, the chairman now owns 304,114 shares of the company’s stock, valued at approximately $65,004,367.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Avery Dennison news, Chairman Mitchell R. Butier sold 10,000 shares of Avery Dennison stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $213.75, for a total transaction of $2,137,500.00. Following the transaction, the chairman now directly owns 304,114 shares in the company, valued at approximately $65,004,367.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Mitchell R. Butier sold 3,000 shares of the stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $205.76, for a total value of $617,280.00. Following the completion of the sale, the chairman now owns 304,114 shares of the company’s stock, valued at approximately $62,574,496.64. The disclosure for this sale can be found here. Insiders sold a total of 59,108 shares of company stock valued at $12,545,087 in the last three months. 1.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Avery Dennison

A number of institutional investors have recently bought and sold shares of AVY. Innealta Capital LLC purchased a new stake in shares of Avery Dennison in the second quarter worth approximately $28,000. Ashton Thomas Private Wealth LLC purchased a new stake in Avery Dennison in the 2nd quarter worth approximately $42,000. 1620 Investment Advisors Inc. acquired a new stake in shares of Avery Dennison during the 2nd quarter valued at $51,000. Palisade Asset Management LLC purchased a new position in shares of Avery Dennison during the 1st quarter valued at $64,000. Finally, Versant Capital Management Inc increased its stake in shares of Avery Dennison by 936.7% in the second quarter. Versant Capital Management Inc now owns 311 shares of the industrial products company’s stock worth $68,000 after acquiring an additional 281 shares during the last quarter. 94.17% of the stock is currently owned by institutional investors and hedge funds.

Avery Dennison Stock Performance

AVY stock opened at $220.20 on Friday. Avery Dennison has a 1 year low of $165.21 and a 1 year high of $233.48. The stock has a market capitalization of $17.74 billion, a price-to-earnings ratio of 32.15, a PEG ratio of 1.81 and a beta of 0.88. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.60 and a current ratio of 0.90. The stock’s fifty day moving average is $215.93 and its two-hundred day moving average is $218.92.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $2.42 earnings per share for the quarter, beating the consensus estimate of $2.26 by $0.16. Avery Dennison had a net margin of 7.34% and a return on equity of 33.44%. The firm had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.18 billion. During the same period last year, the firm posted $1.92 EPS. Avery Dennison’s quarterly revenue was up 6.9% compared to the same quarter last year. On average, research analysts predict that Avery Dennison will post 9.41 EPS for the current year.

Avery Dennison Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, September 4th will be given a dividend of $0.88 per share. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.60%. Avery Dennison’s dividend payout ratio (DPR) is presently 51.39%.

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.