Avery Dennison Co. (NYSE:AVY) Given Average Recommendation of “Moderate Buy” by Brokerages

Avery Dennison Co. (NYSE:AVY) has earned a consensus recommendation of “Moderate Buy” from the nine analysts that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and seven have given a buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $221.00.

AVY has been the topic of a number of analyst reports. Citigroup increased their price target on Avery Dennison from $223.00 to $234.00 and gave the company a “neutral” rating in a research note on Thursday, April 4th. StockNews.com raised Avery Dennison from a “hold” rating to a “buy” rating in a research note on Monday. Bank of America downgraded Avery Dennison from a “buy” rating to an “underperform” rating and set a $208.00 price target on the stock. in a research note on Tuesday, January 2nd. Raymond James increased their price target on Avery Dennison from $199.00 to $225.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Finally, Truist Financial reissued a “buy” rating and issued a $249.00 price target on shares of Avery Dennison in a research note on Friday, January 19th.

Avery Dennison Stock Up 0.1 %

NYSE:AVY opened at $211.77 on Tuesday. The stock’s fifty day moving average price is $215.07 and its two-hundred day moving average price is $199.73. Avery Dennison has a 52-week low of $158.93 and a 52-week high of $225.26. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.69 and a current ratio of 1.04. The company has a market cap of $17.05 billion, a price-to-earnings ratio of 34.10, a P/E/G ratio of 3.27 and a beta of 0.90.

Avery Dennison (NYSE:AVY) last posted its quarterly earnings data on Wednesday, January 31st. The industrial products company reported $2.16 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.16. Avery Dennison had a return on equity of 30.97% and a net margin of 6.01%. The firm had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.10 billion. During the same quarter in the prior year, the business earned $1.65 EPS. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. On average, analysts anticipate that Avery Dennison will post 9.26 EPS for the current year.

Avery Dennison Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, March 6th were paid a dividend of $0.81 per share. This represents a $3.24 annualized dividend and a yield of 1.53%. The ex-dividend date of this dividend was Tuesday, March 5th. Avery Dennison’s payout ratio is presently 52.17%.

Insiders Place Their Bets

In other Avery Dennison news, Chairman Mitchell R. Butier sold 8,168 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $217.36, for a total transaction of $1,775,396.48. Following the completion of the transaction, the chairman now owns 321,487 shares in the company, valued at approximately $69,878,414.32. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Chairman Mitchell R. Butier sold 8,168 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $217.36, for a total value of $1,775,396.48. Following the completion of the transaction, the chairman now owns 321,487 shares in the company, valued at approximately $69,878,414.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ryan D. Yost sold 1,400 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $213.29, for a total value of $298,606.00. Following the completion of the transaction, the insider now owns 2,843 shares of the company’s stock, valued at approximately $606,383.47. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,879 shares of company stock worth $4,217,705. Corporate insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Avery Dennison

Hedge funds and other institutional investors have recently bought and sold shares of the business. AEGON ASSET MANAGEMENT UK Plc bought a new position in Avery Dennison during the fourth quarter worth about $2,715,000. Mutual of America Capital Management LLC lifted its position in Avery Dennison by 133.4% during the fourth quarter. Mutual of America Capital Management LLC now owns 26,318 shares of the industrial products company’s stock worth $5,320,000 after acquiring an additional 15,040 shares during the last quarter. Cerity Partners LLC lifted its position in Avery Dennison by 4,159.9% during the fourth quarter. Cerity Partners LLC now owns 1,191,228 shares of the industrial products company’s stock worth $240,819,000 after acquiring an additional 1,163,264 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in Avery Dennison by 192.2% during the fourth quarter. Assenagon Asset Management S.A. now owns 10,713 shares of the industrial products company’s stock worth $2,166,000 after acquiring an additional 7,047 shares during the last quarter. Finally, Janney Montgomery Scott LLC lifted its position in Avery Dennison by 736.1% during the third quarter. Janney Montgomery Scott LLC now owns 142,766 shares of the industrial products company’s stock worth $26,080,000 after acquiring an additional 125,691 shares during the last quarter. Institutional investors 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.