Avery Dennison (NYSE:AVY) Given New $220.00 Price Target at JPMorgan Chase & Co.

Avery Dennison (NYSE:AVY) had its price objective raised by analysts at JPMorgan Chase & Co. from $218.00 to $220.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the industrial products company’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 1.39% from the stock’s previous close.

A number of other analysts have also commented on the stock. Robert W. Baird boosted their price target on shares of Avery Dennison from $215.00 to $230.00 and gave the company an “outperform” rating in a research note on Thursday. UBS Group boosted their price target on shares of Avery Dennison from $225.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, January 11th. Citigroup upped their target price on shares of Avery Dennison from $223.00 to $234.00 and gave the stock a “neutral” rating in a research note on Thursday, April 4th. Bank of America lowered shares of Avery Dennison from a “buy” rating to an “underperform” rating and set a $208.00 target price for the company. in a research note on Tuesday, January 2nd. Finally, Truist Financial reiterated a “buy” rating and issued a $249.00 target price on shares of Avery Dennison in a research note on Friday, January 19th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $223.60.

Avery Dennison Stock Up 2.2 %

Shares of Avery Dennison stock traded up $4.57 during trading on Thursday, reaching $216.99. 323,039 shares of the company traded hands, compared to its average volume of 439,548. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.04 and a quick ratio of 0.69. Avery Dennison has a 1-year low of $158.93 and a 1-year high of $225.26. The company has a 50 day moving average price of $215.34 and a 200-day moving average price of $200.01. The firm has a market capitalization of $17.47 billion, a PE ratio of 34.75, a P/E/G ratio of 3.26 and a beta of 0.90.

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

Insider Buying and Selling

In other Avery Dennison news, Director Julia A. Stewart sold 5,311 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $202.26, for a total transaction of $1,074,202.86. Following the sale, the director now directly owns 5,018 shares of the company’s stock, valued at $1,014,940.68. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Avery Dennison news, Chairman Mitchell R. Butier sold 8,168 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $217.36, for a total transaction of $1,775,396.48. Following the sale, the chairman now directly owns 321,487 shares of the company’s stock, valued at $69,878,414.32. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Julia A. Stewart sold 5,311 shares of the stock in a transaction dated 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 sale, the director now directly owns 5,018 shares in the company, valued at $1,014,940.68. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 19,879 shares of company stock valued at $4,217,705. 1.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Avery Dennison

A number of institutional investors and hedge funds have recently modified their holdings of the company. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its holdings in shares of Avery Dennison by 88.7% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 50,752 shares of the industrial products company’s stock worth $11,330,000 after buying an additional 23,852 shares in the last quarter. Albert D Mason Inc. increased its position in shares of Avery Dennison by 0.7% in the first quarter. Albert D Mason Inc. now owns 7,456 shares of the industrial products company’s stock worth $1,665,000 after purchasing an additional 51 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its position in shares of Avery Dennison by 11.0% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 6,860 shares of the industrial products company’s stock worth $1,531,000 after purchasing an additional 680 shares during the last quarter. Win Advisors Inc. bought a new position in shares of Avery Dennison in the first quarter worth approximately $296,000. Finally, Adams Diversified Equity Fund Inc. bought a new position in shares of Avery Dennison in the first quarter worth approximately $5,782,000. 94.17% of the stock is owned by hedge funds and other 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.