G.Research Weighs in on Avery Dennison Corp’s FY2019 Earnings (NYSE:AVY)

Avery Dennison Corp (NYSE:AVY) – G.Research dropped their FY2019 earnings estimates for shares of Avery Dennison in a report released on Friday, October 25th. G.Research analyst R. Morbelli now anticipates that the industrial products company will post earnings of $6.55 per share for the year, down from their previous estimate of $6.60.

Other equities analysts also recently issued reports about the stock. Robert W. Baird raised their price objective on shares of Avery Dennison from $125.00 to $140.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. JPMorgan Chase & Co. raised their price objective on shares of Avery Dennison from $105.00 to $111.00 and gave the stock an “underweight” rating in a report on Wednesday, July 24th. Berenberg Bank initiated coverage on shares of Avery Dennison in a report on Thursday, August 15th. They set a “buy” rating and a $130.00 price objective for the company. Bank of America raised shares of Avery Dennison from a “neutral” rating to a “buy” rating and set a $130.00 price objective for the company in a report on Friday, September 13th. Finally, UBS Group reduced their price objective on shares of Avery Dennison from $130.00 to $129.00 and set a “buy” rating for the company in a report on Friday, September 13th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company’s stock. Avery Dennison currently has an average rating of “Hold” and an average target price of $126.40.

NYSE:AVY opened at $127.49 on Monday. The company has a 50-day moving average of $115.10 and a 200-day moving average of $112.40. The company has a market capitalization of $10.63 billion, a price-to-earnings ratio of 21.04, a PEG ratio of 2.34 and a beta of 1.30. Avery Dennison has a 52 week low of $82.89 and a 52 week high of $130.61. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.75 and a current ratio of 1.03.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates of $1.61 by $0.05. Avery Dennison had a net margin of 3.37% and a return on equity of 53.79%. The firm had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.75 billion. During the same period in the prior year, the firm earned $1.45 EPS. The business’s revenue was up .0% on a year-over-year basis.

Institutional investors have recently made changes to their positions in the stock. AdvisorNet Financial Inc acquired a new stake in Avery Dennison in the 3rd quarter valued at about $28,000. TRUE Private Wealth Advisors acquired a new stake in Avery Dennison in the 2nd quarter valued at about $40,000. Amica Retiree Medical Trust acquired a new stake in Avery Dennison in the 2nd quarter valued at about $44,000. CSat Investment Advisory L.P. increased its position 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 in the last quarter. Finally, Kavar Capital Partners LLC acquired a new stake in Avery Dennison in the 2nd quarter valued at about $55,000. Institutional investors and hedge funds own 88.34% of the company’s stock.

In related news, VP Lori J. Bondar sold 2,600 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $115.90, for a total transaction of $301,340.00. Following the completion of the sale, the vice president now owns 20,028 shares in the company, valued at approximately $2,321,245.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Lori J. Bondar sold 4,213 shares of the stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $114.63, for a total transaction of $482,936.19. Following the sale, the chief accounting officer now owns 21,641 shares of the company’s stock, valued at approximately $2,480,707.83. The disclosure for this sale can be found here. Insiders have sold a total of 8,963 shares of company stock valued at $1,030,537 in the last quarter. 1.30% of the stock is currently owned by corporate insiders.

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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Earnings History and Estimates for Avery Dennison (NYSE:AVY)

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