Avery Dennison (AVY) PT Lowered to $125.00 at Citigroup

Avery Dennison (NYSE:AVY) had its target price lowered by Citigroup from $140.00 to $125.00 in a report released on Thursday. Citigroup currently has a buy rating on the industrial products company’s stock.

A number of other equities analysts have also recently weighed in on AVY. Zacks Investment Research cut shares of Avery Dennison from a buy rating to a hold rating in a research report on Friday, January 5th. UBS initiated coverage on shares of Avery Dennison in a research report on Thursday, January 18th. They set a buy rating and a $135.00 price objective for the company. JPMorgan Chase cut shares of Avery Dennison from a neutral rating to an underweight rating and set a $113.00 price objective for the company. in a research report on Thursday, February 1st. Bank of America increased their price objective on shares of Avery Dennison from $128.00 to $133.00 and gave the stock a buy rating in a research report on Thursday, February 1st. Finally, Barclays increased their price objective on shares of Avery Dennison from $135.00 to $140.00 and gave the stock an overweight rating in a research report on Monday, February 12th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Avery Dennison currently has an average rating of Buy and an average target price of $123.67.

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Shares of NYSE:AVY traded down $2.66 during mid-day trading on Thursday, reaching $103.41. 455,314 shares of the company were exchanged, compared to its average volume of 720,134. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.83 and a current ratio of 1.13. The stock has a market capitalization of $9,338.81, a P/E ratio of 20.92, a PEG ratio of 2.58 and a beta of 1.25. Avery Dennison has a 1 year low of $79.13 and a 1 year high of $123.67.

Avery Dennison (NYSE:AVY) last posted its quarterly earnings data on Wednesday, January 31st. The industrial products company reported $1.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.25 by $0.08. The firm had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.70 billion. Avery Dennison had a net margin of 4.26% and a return on equity of 42.26%. The firm’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter last year, the company posted $0.99 EPS. research analysts forecast that Avery Dennison will post 5.88 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 21st. Shareholders of record on Wednesday, March 7th were given a $0.45 dividend. The ex-dividend date was Tuesday, March 6th. This represents a $1.80 annualized dividend and a yield of 1.74%. Avery Dennison’s dividend payout ratio is presently 36.00%.

In other news, Director Dean A. Scarborough sold 10,000 shares of the firm’s stock in a transaction on Friday, March 23rd. The shares were sold at an average price of $104.37, for a total value of $1,043,700.00. Following the sale, the director now directly owns 106,953 shares in the company, valued at approximately $11,162,684.61. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Anthony Anderson sold 2,770 shares of the firm’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $117.50, for a total transaction of $325,475.00. Following the completion of the sale, the director now owns 4,014 shares in the company, valued at $471,645. The disclosure for this sale can be found here. Insiders sold a total of 166,409 shares of company stock valued at $18,288,509 in the last three months. 1.30% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. Piedmont Investment Advisors LLC raised its holdings in shares of Avery Dennison by 77.6% in the 3rd quarter. Piedmont Investment Advisors LLC now owns 44,577 shares of the industrial products company’s stock valued at $4,384,000 after purchasing an additional 19,479 shares in the last quarter. Wells Fargo & Company MN raised its holdings in shares of Avery Dennison by 24.5% in the 4th quarter. Wells Fargo & Company MN now owns 1,186,196 shares of the industrial products company’s stock valued at $136,247,000 after purchasing an additional 233,134 shares in the last quarter. American International Group Inc. raised its holdings in shares of Avery Dennison by 10.6% in the 4th quarter. American International Group Inc. now owns 33,194 shares of the industrial products company’s stock valued at $3,813,000 after purchasing an additional 3,172 shares in the last quarter. Premia Global Advisors LLC acquired a new stake in shares of Avery Dennison in the 4th quarter valued at $252,000. Finally, KAMES CAPITAL plc acquired a new stake in shares of Avery Dennison in the 4th quarter valued at $71,586,000. Institutional investors and hedge funds own 85.95% of the company’s stock.

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Avery Dennison Company Profile

Avery Dennison Corporation produces and sells pressure-sensitive materials worldwide. The company's Label and Graphic Materials segment offers pressure-sensitive label and packaging materials; and graphics and reflective products under the Fasson, JAC, Avery Dennison, and Mactac brands. It also offers durable cast and reflective films.

Analyst Recommendations for Avery Dennison (NYSE:AVY)

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