Avery Dennison Corp (AVY) Receives $118.33 Consensus Target Price from Analysts

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Shares of Avery Dennison Corp (NYSE:AVY) have earned an average recommendation of “Hold” from the ten analysts that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $118.33.

Several equities analysts recently weighed in on the company. KeyCorp reaffirmed a “sector weight” rating and issued a $110.00 price objective on shares of Avery Dennison in a research note on Sunday, April 7th. Zacks Investment Research downgraded Avery Dennison from a “buy” rating to a “hold” rating in a research note on Monday, April 8th. JPMorgan Chase & Co. downgraded Avery Dennison from a “neutral” rating to an “underweight” rating and set a $105.00 price objective for the company. in a research note on Thursday, April 18th. Loop Capital downgraded Avery Dennison from a “buy” rating to a “hold” rating in a research note on Wednesday, March 20th. They noted that the move was a valuation call. Finally, BMO Capital Markets raised their price objective on Avery Dennison to $114.00 and gave the company a “market perform” rating in a research note on Monday, February 4th.

Shares of AVY stock opened at $101.26 on Friday. The company has a market cap of $8.55 billion, a PE ratio of 16.71, a price-to-earnings-growth ratio of 1.87 and a beta of 1.35. Avery Dennison has a 12-month low of $82.89 and a 12-month high of $117.00. The company has a quick ratio of 0.80, a current ratio of 1.14 and a debt-to-equity ratio of 1.77.

Avery Dennison (NYSE:AVY) last issued its earnings results on Wednesday, April 24th. The industrial products company reported $1.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.02. The business had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.77 billion. Avery Dennison had a return on equity of 53.28% and a net margin of 2.74%. The company’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.44 EPS. On average, equities research analysts expect that Avery Dennison will post 6.55 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 19th. Investors of record on Wednesday, June 5th will be paid a $0.58 dividend. This is an increase from Avery Dennison’s previous quarterly dividend of $0.52. This represents a $2.32 annualized dividend and a yield of 2.29%. The ex-dividend date of this dividend is Tuesday, June 4th. Avery Dennison’s dividend payout ratio (DPR) is presently 34.32%.

In other Avery Dennison news, insider Georges Gravanis sold 14,000 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $110.66, for a total transaction of $1,549,240.00. Following the sale, the insider now owns 13,898 shares in the company, valued at approximately $1,537,952.68. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Deon Stander sold 7,500 shares of the stock in a transaction on Thursday, February 28th. The shares were sold at an average price of $109.51, for a total value of $821,325.00. Following the sale, the vice president now owns 42,702 shares in the company, valued at approximately $4,676,296.02. The disclosure for this sale can be found here. In the last quarter, insiders have sold 238,328 shares of company stock worth $25,927,220. 1.30% of the stock is owned by insiders.

A number of large investors have recently made changes to their positions in the business. GYL Financial Synergies LLC acquired a new stake in Avery Dennison during the 1st quarter valued at $893,000. Cleararc Capital Inc. acquired a new stake in Avery Dennison during the 1st quarter valued at $231,000. Horizon Investments LLC acquired a new stake in Avery Dennison during the 1st quarter valued at $271,000. FMR LLC grew its holdings in Avery Dennison by 67.2% during the 1st quarter. FMR LLC now owns 707,346 shares of the industrial products company’s stock valued at $79,930,000 after buying an additional 284,234 shares during the last quarter. Finally, Covenant Partners LLC acquired a new stake in Avery Dennison during the 1st quarter valued at $286,000. Hedge funds and other institutional investors own 88.22% of the company’s stock.

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, as well as durable cast and reflective films.

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Analyst Recommendations for Avery Dennison (NYSE:AVY)

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