Avery Dennison (NYSE:AVY)‘s stock had its “hold” rating reissued by analysts at KeyCorp in a report issued on Friday, TipRanks reports.
Several other brokerages have also commented on AVY. JPMorgan Chase & Co. boosted their price target on Avery Dennison from $105.00 to $111.00 and gave the stock an “underweight” rating in a research note on Wednesday, July 24th. Bank of America raised Avery Dennison from a “neutral” rating to a “buy” rating and set a $130.00 price target on the stock in a research note on Friday. Citigroup boosted their price target on Avery Dennison from $130.00 to $132.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th. Berenberg Bank initiated coverage on Avery Dennison in a research note on Thursday, August 15th. They set a “buy” rating and a $130.00 price target on the stock. Finally, UBS Group decreased their price target on Avery Dennison from $130.00 to $129.00 and set a “buy” rating on the stock in a research note on Friday. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $123.33.
Shares of NYSE:AVY traded up $3.55 during trading on Friday, hitting $116.55. 803,293 shares of the stock were exchanged, compared to its average volume of 428,679. The company has a fifty day moving average price of $113.60 and a two-hundred day moving average price of $111.34. The company has a market cap of $9.51 billion, a PE ratio of 19.23, a P/E/G ratio of 2.09 and a beta of 1.33. The company has a current ratio of 1.04, a quick ratio of 0.75 and a debt-to-equity ratio of 1.41. Avery Dennison has a 12-month low of $82.89 and a 12-month high of $120.65.
Avery Dennison (NYSE:AVY) last announced its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $1.72 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.68 by $0.04. The business had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.83 billion. Avery Dennison had a return on equity of 52.67% and a net margin of 3.44%. The company’s quarterly revenue was down 3.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.66 EPS. Equities research analysts anticipate that Avery Dennison will post 6.56 earnings per share for the current fiscal year.
In related news, Director Anthony Anderson sold 2,150 shares of Avery Dennison 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 completion of the transaction, the director now directly owns 2,862 shares in the company, valued at approximately $327,813.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Lori J. Bondar sold 4,213 shares of Avery Dennison stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $114.63, for a total value of $482,936.19. Following the transaction, the chief accounting officer now owns 21,641 shares of the company’s stock, valued at $2,480,707.83. The disclosure for this sale can be found here. Insiders have sold a total of 76,490 shares of company stock valued at $8,886,301 over the last 90 days. Insiders own 1.30% of the company’s stock.
Several institutional investors have recently modified their holdings of AVY. Icon Wealth Partners LLC acquired a new position in Avery Dennison in the 1st quarter valued at $36,000. TRUE Private Wealth Advisors acquired a new position in Avery Dennison in the 2nd quarter valued at $40,000. Amica Retiree Medical Trust acquired a new position in Avery Dennison in the 2nd quarter valued at $44,000. CSat Investment Advisory L.P. raised its holdings in Avery Dennison by 57.3% in the 2nd quarter. CSat Investment Advisory L.P. now owns 461 shares of the industrial products company’s stock valued at $53,000 after acquiring an additional 168 shares during the last quarter. Finally, Kavar Capital Partners LLC acquired a new position in Avery Dennison in the 2nd quarter valued at $55,000. Hedge funds and other institutional investors own 88.66% of the company’s stock.
About Avery Dennison
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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