Avery Dennison (NYSE:AVY) Upgraded by JPMorgan Chase & Co. to Overweight Rating

Avery Dennison (NYSE:AVY) was upgraded by analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research report issued to clients and investors on Friday, Marketbeat reports. The brokerage currently has a $205.00 price target on the industrial products company’s stock, down from their previous price target of $210.00. JPMorgan Chase & Co.‘s price target points to a potential upside of 12.22% from the company’s previous close.

Several other equities analysts have also recently commented on the stock. Bank of America reduced their price target on shares of Avery Dennison from $238.00 to $220.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Truist Financial lowered their price target on Avery Dennison from $258.00 to $245.00 and set a “buy” rating for the company in a report on Monday, January 6th. Citigroup dropped their price target on Avery Dennison from $228.00 to $202.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. StockNews.com downgraded shares of Avery Dennison from a “buy” rating to a “hold” rating in a report on Thursday, October 24th. Finally, UBS Group reduced their price target on shares of Avery Dennison from $235.00 to $207.00 and set a “neutral” rating on the stock in a research report on Friday, January 10th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $234.60.

Avery Dennison Stock Down 5.3 %

Shares of NYSE AVY opened at $182.67 on Friday. The firm has a market cap of $14.68 billion, a price-to-earnings ratio of 21.93, a PEG ratio of 1.38 and a beta of 0.89. Avery Dennison has a 1 year low of $179.20 and a 1 year high of $233.48. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.62 and a current ratio of 0.92. The stock’s 50-day simple moving average is $193.87 and its 200-day simple moving average is $206.51.

Avery Dennison (NYSE:AVY) last released its earnings results on Thursday, January 30th. The industrial products company reported $2.38 EPS for the quarter, missing the consensus estimate of $2.39 by ($0.01). Avery Dennison had a net margin of 7.76% and a return on equity of 33.01%. As a group, equities analysts anticipate that Avery Dennison will post 9.41 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Nicholas Colisto sold 3,679 shares of Avery Dennison stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $206.00, for a total value of $757,874.00. Following the transaction, the senior vice president now owns 7,126 shares of the company’s stock, valued at $1,467,956. The trade was a 34.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 1.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Avery Dennison

Institutional investors and hedge funds have recently modified their holdings of the stock. Nordea Investment Management AB increased its stake in Avery Dennison by 485.2% in the 4th quarter. Nordea Investment Management AB now owns 35,630 shares of the industrial products company’s stock valued at $6,715,000 after buying an additional 29,541 shares during the period. Victory Capital Management Inc. lifted its stake in Avery Dennison by 6.8% in the third quarter. Victory Capital Management Inc. now owns 1,416,798 shares of the industrial products company’s stock valued at $312,772,000 after acquiring an additional 90,250 shares during the last quarter. Icon Wealth Advisors LLC grew its position in Avery Dennison by 553.5% in the third quarter. Icon Wealth Advisors LLC now owns 3,137 shares of the industrial products company’s stock worth $693,000 after acquiring an additional 2,657 shares in the last quarter. Meyer Handelman Co. acquired a new position in shares of Avery Dennison during the 4th quarter worth $4,263,000. Finally, JPMorgan Chase & Co. raised its holdings in shares of Avery Dennison by 12.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 420,232 shares of the industrial products company’s stock valued at $92,771,000 after purchasing an additional 46,390 shares in the last quarter. Institutional investors and hedge funds own 94.17% of the company’s stock.

Avery Dennison Company Profile

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.