Avery Dennison (NYSE:AVY) PT Lowered to $129.00

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Avery Dennison (NYSE:AVY) had its target price lowered by UBS Group from $130.00 to $129.00 in a research note published on Friday morning, BenzingaRatingsTable reports. The firm currently has a buy rating on the industrial products company’s stock.

Several other brokerages have also recently weighed in on AVY. JPMorgan Chase & Co. increased their price objective on shares of Avery Dennison from $105.00 to $111.00 and gave the stock an underweight rating in a research note on Wednesday, July 24th. Berenberg Bank assumed coverage on shares of Avery Dennison in a research note on Thursday, August 15th. They issued a buy rating and a $130.00 price objective on the stock. Bank of America upgraded shares of Avery Dennison from a neutral rating to a buy rating and set a $130.00 price objective on the stock in a research note on Friday. Citigroup increased their price objective on shares of Avery Dennison from $130.00 to $132.00 and gave the stock a buy rating in a research note on Thursday, July 11th. Finally, ValuEngine cut shares of Avery Dennison from a hold rating to a sell rating in a research note on Wednesday, September 11th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company. Avery Dennison has a consensus rating of Hold and an average target price of $123.33.

Shares of NYSE:AVY opened at $116.55 on Friday. The firm’s 50 day moving average price is $113.60 and its 200-day moving average price is $111.34. Avery Dennison has a twelve month low of $82.89 and a twelve month high of $120.65. The company has a quick ratio of 0.75, a current ratio of 1.04 and a debt-to-equity ratio of 1.41. The stock has a market capitalization of $9.51 billion, a PE ratio of 19.23, a price-to-earnings-growth ratio of 2.09 and a beta of 1.33.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $1.72 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.68 by $0.04. Avery Dennison had a net margin of 3.44% and a return on equity of 52.67%. The firm had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.83 billion. During the same quarter in the prior year, the business earned $1.66 EPS. The business’s quarterly revenue was down 3.2% on a year-over-year basis. Analysts expect that Avery Dennison will post 6.56 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, September 4th will be paid a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date of this dividend is Tuesday, September 3rd. Avery Dennison’s payout ratio is 38.28%.

In other Avery Dennison news, Director Bradley A. Alford sold 5,027 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $117.16, for a total transaction of $588,963.32. Following the sale, the director now owns 22,827 shares in the company, valued at approximately $2,674,411.32. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Anthony Anderson sold 2,150 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $114.54, for a total transaction of $246,261.00. Following the sale, the director now owns 2,862 shares in the company, valued at approximately $327,813.48. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 76,490 shares of company stock worth $8,886,301. 1.30% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Icon Wealth Partners LLC purchased a new stake in Avery Dennison during the 1st quarter valued at approximately $36,000. TRUE Private Wealth Advisors purchased a new position in shares of Avery Dennison in the second quarter valued at $40,000. Amica Retiree Medical Trust purchased a new position in shares of Avery Dennison in the second quarter valued at $44,000. CSat Investment Advisory L.P. grew its holdings in shares of Avery Dennison by 57.3% in the second quarter. CSat Investment Advisory L.P. now owns 461 shares of the industrial products company’s stock valued at $53,000 after purchasing an additional 168 shares in the last quarter. Finally, Kavar Capital Partners LLC purchased a new position in shares of Avery Dennison in the second quarter valued at $55,000. 88.34% of the stock is owned by institutional investors and hedge funds.

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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