StockNews.com Upgrades Avery Dennison (NYSE:AVY) to Buy

Avery Dennison (NYSE:AVY) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Monday.

Other analysts have also recently issued reports about the company. Raymond James increased their target price on Avery Dennison from $199.00 to $225.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Citigroup raised their price target on shares of Avery Dennison from $223.00 to $234.00 and gave the stock a “neutral” rating in a research note on Thursday, April 4th. JPMorgan Chase & Co. raised their price target on shares of Avery Dennison from $185.00 to $218.00 and gave the stock an “overweight” rating in a research note on Thursday, February 1st. Truist Financial reaffirmed a “buy” rating and set a $249.00 price target on shares of Avery Dennison in a research note on Friday, January 19th. Finally, Bank of America cut shares of Avery Dennison from a “buy” rating to an “underperform” rating and set a $208.00 price target for the company. in a research note on Tuesday, January 2nd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $221.00.

Avery Dennison Stock Performance

Shares of NYSE:AVY opened at $211.33 on Monday. The company has a market capitalization of $17.02 billion, a price-to-earnings ratio of 34.03, a P/E/G ratio of 3.27 and a beta of 0.90. The firm’s 50 day simple moving average is $215.22 and its 200 day simple moving average is $199.92. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.04 and a quick ratio of 0.69. Avery Dennison has a fifty-two week low of $158.93 and a fifty-two week high of $225.26.

Avery Dennison (NYSE:AVY) last posted its earnings results on Wednesday, January 31st. The industrial products company reported $2.16 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $2.16. Avery Dennison had a return on equity of 30.97% and a net margin of 6.01%. The business had revenue of $2.11 billion during the quarter, compared to analysts’ expectations of $2.10 billion. During the same period in the prior year, the business earned $1.65 EPS. Avery Dennison’s revenue for the quarter was up 4.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Avery Dennison will post 9.26 earnings per share for the current year.

Insider Activity

In other Avery Dennison news, Chairman Mitchell R. Butier sold 8,168 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $217.36, for a total transaction of $1,775,396.48. Following the completion of the sale, the chairman now owns 321,487 shares of the company’s stock, valued at approximately $69,878,414.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Avery Dennison news, Chairman Mitchell R. Butier sold 8,168 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $217.36, for a total transaction of $1,775,396.48. Following the completion of the sale, the chairman now owns 321,487 shares of the company’s stock, valued at approximately $69,878,414.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Julia A. Stewart sold 5,311 shares of the firm’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $202.26, for a total value of $1,074,202.86. Following the sale, the director now directly owns 5,018 shares of the company’s stock, valued at approximately $1,014,940.68. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,879 shares of company stock valued at $4,217,705. 1.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Avery Dennison

Several hedge funds have recently added to or reduced their stakes in AVY. Taylor Frigon Capital Management LLC lifted its holdings in shares of Avery Dennison by 0.8% during the first quarter. Taylor Frigon Capital Management LLC now owns 6,386 shares of the industrial products company’s stock worth $1,426,000 after buying an additional 48 shares in the last quarter. Alliance Wealth Advisors LLC UT lifted its holdings in shares of Avery Dennison by 1.5% during the fourth quarter. Alliance Wealth Advisors LLC UT now owns 3,840 shares of the industrial products company’s stock worth $776,000 after buying an additional 56 shares in the last quarter. First Trust Direct Indexing L.P. lifted its holdings in shares of Avery Dennison by 5.0% during the fourth quarter. First Trust Direct Indexing L.P. now owns 1,198 shares of the industrial products company’s stock worth $242,000 after buying an additional 57 shares in the last quarter. New York Life Investment Management LLC lifted its holdings in shares of Avery Dennison by 0.5% during the third quarter. New York Life Investment Management LLC now owns 11,454 shares of the industrial products company’s stock worth $2,092,000 after buying an additional 58 shares in the last quarter. Finally, Condor Capital Management lifted its holdings in shares of Avery Dennison by 0.4% during the fourth quarter. Condor Capital Management now owns 13,716 shares of the industrial products company’s stock worth $2,773,000 after buying an additional 60 shares in the last quarter. Institutional investors and hedge funds own 94.17% of the company’s stock.

About Avery Dennison

Avery Dennison Corporation operates as a materials science and digital identification solutions company in the United States, Europe, the Middle East, North Africa, Asia, Latin, America, and internationally. It provides pressure-sensitive materials comprising papers, plastic films, metal foils, and fabrics; performance tapes products, including tapes for wire harnessing, as well as cable wrapping for automotive, electrical, and general industrial applications; mechanical fasteners, which are precision-extruded and injection-molded plastic devices used in various automotive, general industrial, and retail applications; and other pressure-sensitive adhesive-based materials and converted products under the Fasson, JAC, Yongle, and Avery Dennison brands.