Avery Dennison (NYSE:AVY) Stock Price Target Raised at UBS Group

Avery Dennison (NYSE:AVY) had its price objective boosted by investment analysts at UBS Group from $225.00 to $230.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has a “buy” rating on the industrial products company’s stock. UBS Group‘s target price suggests a potential upside of 26.24% from the stock’s previous close.

A number of other equities analysts have also commented on AVY. Weiss Ratings upgraded shares of Avery Dennison from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. Truist Financial reduced their price target on Avery Dennison from $209.00 to $208.00 and set a “buy” rating on the stock in a research report on Monday, October 12th. Wall Street Zen cut Avery Dennison from a “buy” rating to a “hold” rating in a research note on Saturday. Citigroup raised their price objective on Avery Dennison from $184.00 to $186.00 and gave the stock a “neutral” rating in a research report on Friday, July 31st. Finally, Bank of America reaffirmed a “buy” rating on shares of Avery Dennison in a research note on Friday, August 14th. Six analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $200.60.

Avery Dennison Price Performance

Shares of AVY opened at $182.19 on Friday. The company has a 50 day moving average of $174.24 and a 200-day moving average of $172.28. The company has a quick ratio of 0.80, a current ratio of 1.16 and a debt-to-equity ratio of 1.33. The stock has a market capitalization of $13.81 billion, a P/E ratio of 19.72, a P/E/G ratio of 2.15 and a beta of 0.79. Avery Dennison has a twelve month low of $152.42 and a twelve month high of $199.54.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings results on Thursday, October 29th. The industrial products company reported $2.42 EPS for the quarter, beating the consensus estimate of $2.32 by $0.10. The firm had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.26 billion. Avery Dennison had a return on equity of 33.88% and a net margin of 7.56%. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.37 earnings per share. As a group, equities research analysts forecast that Avery Dennison will post 10.17 EPS for the current fiscal year.

Insiders Place Their Bets

In other Avery Dennison news, SVP Ignacio Walker sold 1,742 shares of the company’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $171.61, for a total transaction of $298,944.62. Following the sale, the senior vice president owned 7,585 shares of the company’s stock, valued at approximately $1,301,661.85. This represents a 18.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Nicholas Colisto sold 3,886 shares of the stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $170.68, for a total value of $663,262.48. Following the sale, the senior vice president owned 7,126 shares of the company’s stock, valued at approximately $1,216,265.68. The trade was a 35.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.81% of the company’s stock.

Institutional Investors Weigh In On Avery Dennison

Several large investors have recently added to or reduced their stakes in the business. Activest Wealth Management acquired a new position in Avery Dennison in the third quarter valued at approximately $27,000. Trust Co. of Vermont acquired a new stake in shares of Avery Dennison during the 2nd quarter worth approximately $27,000. Elevation Wealth Partners LLC increased its stake in shares of Avery Dennison by 684.0% in the 2nd quarter. Elevation Wealth Partners LLC now owns 196 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 171 shares in the last quarter. Louisbourg Investments Inc. bought a new stake in shares of Avery Dennison in the 3rd quarter valued at $39,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Avery Dennison during the 2nd quarter valued at $40,000. Institutional investors and hedge funds own 94.17% of the company’s stock.

About Avery Dennison

Avery Dennison Corporation (NYSE: AVY) is a global materials science and manufacturing company that develops and produces labeling, packaging, graphic, and functional materials. Its products are used by businesses across industries including consumer goods, retail, logistics, apparel, automotive, healthcare, and industrial manufacturing.

The company’s offerings include pressure-sensitive labels and label materials, adhesives, industrial and specialty tapes, graphic films, and packaging materials.