Avery Dennison (NYSE:AVY) Lowered to “Neutral” at JPMorgan Chase & Co.

Avery Dennison (NYSE:AVY) was downgraded by research analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research note issued to investors on Thursday, Briefing.com reports. They presently have a $210.00 price objective on the industrial products company’s stock, down from their previous price objective of $230.00. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 1.13% from the company’s previous close.

A number of other equities analysts also recently commented on AVY. Citigroup decreased their price target on Avery Dennison from $241.00 to $240.00 and set a “neutral” rating for the company in a research note on Wednesday, October 2nd. Bank of America upgraded Avery Dennison from an “underperform” rating to a “buy” rating and boosted their price target for the company from $207.00 to $250.00 in a report on Thursday, October 17th. Stifel Nicolaus initiated coverage on Avery Dennison in a research note on Tuesday, July 9th. They set a “buy” rating and a $274.60 price objective on the stock. Barclays initiated coverage on shares of Avery Dennison in a research note on Monday, October 7th. They set an “overweight” rating and a $250.00 target price for the company. Finally, UBS Group lowered shares of Avery Dennison from a “buy” rating to a “neutral” rating and decreased their price target for the company from $262.00 to $235.00 in a report on Thursday, July 25th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $245.87.

Avery Dennison Stock Performance

Shares of AVY opened at $207.65 on Thursday. The firm has a market cap of $16.73 billion, a price-to-earnings ratio of 30.31, a PEG ratio of 1.78 and a beta of 0.88. The company has a quick ratio of 0.60, a current ratio of 0.90 and a debt-to-equity ratio of 0.89. The business’s 50 day moving average is $217.00 and its two-hundred day moving average is $218.62. Avery Dennison has a 52-week low of $165.21 and a 52-week high of $233.48.

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

Insider Activity

In related news, Chairman Mitchell R. Butier sold 3,000 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $202.95, for a total value of $608,850.00. Following the completion of the sale, the chairman now owns 304,114 shares of the company’s stock, valued at $61,719,936.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Chairman Mitchell R. Butier sold 3,000 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $202.95, for a total value of $608,850.00. Following the completion of the transaction, the chairman now directly owns 304,114 shares in the company, valued at $61,719,936.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Mitchell R. Butier sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $212.90, for a total value of $2,129,000.00. Following the sale, the chairman now directly owns 304,114 shares in the company, valued at approximately $64,745,870.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 59,108 shares of company stock valued at $12,545,087. Insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Avery Dennison

Hedge funds and other institutional investors have recently bought and sold shares of the business. Taylor Frigon Capital Management LLC boosted its position in shares of Avery Dennison by 0.8% during the 1st quarter. Taylor Frigon Capital Management LLC now owns 6,386 shares of the industrial products company’s stock valued at $1,426,000 after purchasing an additional 48 shares in the last quarter. Intech Investment Management LLC boosted its holdings in Avery Dennison by 3.3% during the second quarter. Intech Investment Management LLC now owns 1,559 shares of the industrial products company’s stock worth $341,000 after buying an additional 50 shares in the last quarter. Procyon Advisors LLC grew its position in Avery Dennison by 4.0% in the third quarter. Procyon Advisors LLC now owns 1,442 shares of the industrial products company’s stock worth $319,000 after buying an additional 56 shares during the last quarter. Bailard Inc. increased its holdings in shares of Avery Dennison by 0.5% in the second quarter. Bailard Inc. now owns 12,202 shares of the industrial products company’s stock valued at $2,668,000 after buying an additional 61 shares in the last quarter. Finally, Legacy Wealth Asset Management LLC lifted its position in shares of Avery Dennison by 4.5% during the 3rd quarter. Legacy Wealth Asset Management LLC now owns 1,479 shares of the industrial products company’s stock valued at $327,000 after acquiring an additional 64 shares during the last quarter. 94.17% of the stock is currently owned by institutional investors.

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.