Avery Dennison (NYSE:AVY) Upgraded by StockNews.com to “Buy”

StockNews.com upgraded shares of Avery Dennison (NYSE:AVY) from a hold rating to a buy rating in a report released on Monday.

AVY has been the subject of several other reports. UBS Group raised their price target on shares of Avery Dennison from $225.00 to $230.00 and gave the company a buy rating in a report on Thursday, January 11th. Truist Financial reissued a buy rating and issued a $249.00 price target on shares of Avery Dennison in a report on Friday, January 19th. Bank of America downgraded shares of Avery Dennison from a buy rating to an underperform rating and set a $208.00 price target for the company. in a report on Tuesday, January 2nd. Citigroup raised their price target on shares of Avery Dennison from $223.00 to $234.00 and gave the company a neutral rating in a report on Thursday, April 4th. Finally, Raymond James raised their price objective on shares of Avery Dennison from $199.00 to $225.00 and gave the company an outperform rating in a research report on Thursday, January 25th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $221.00.

Avery Dennison Stock Up 0.1 %

AVY opened at $211.77 on Monday. The company has a 50 day moving average of $215.07 and a 200 day moving average of $199.73. The company has a market cap of $17.05 billion, a PE ratio of 34.10, a price-to-earnings-growth ratio of 3.27 and a beta of 0.90. Avery Dennison has a 12 month low of $158.93 and a 12 month high of $225.26. The company has a current ratio of 1.04, a quick ratio of 0.69 and a debt-to-equity ratio of 1.23.

Avery Dennison (NYSE:AVY) last released its quarterly earnings data on Wednesday, January 31st. The industrial products company reported $2.16 EPS for the quarter, hitting the consensus estimate of $2.16. The company had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2.10 billion. Avery Dennison had a net margin of 6.01% and a return on equity of 30.97%. Avery Dennison’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same period last year, the firm earned $1.65 EPS. On average, sell-side analysts expect that Avery Dennison will post 9.26 EPS for the current year.

Avery Dennison Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, March 6th were given a $0.81 dividend. This represents a $3.24 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date was Tuesday, March 5th. Avery Dennison’s payout ratio is presently 52.17%.

Insider Buying and Selling

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

Hedge Funds Weigh In On Avery Dennison

Several hedge funds and other institutional investors have recently modified their holdings of AVY. Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of Avery Dennison during the third quarter valued at about $32,000. Milestone Investment Advisors LLC purchased a new position in shares of Avery Dennison during the third quarter valued at about $36,000. Anchor Investment Management LLC purchased a new position in shares of Avery Dennison during the fourth quarter valued at about $42,000. VisionPoint Advisory Group LLC purchased a new position in shares of Avery Dennison during the fourth quarter valued at about $42,000. Finally, Livforsakringsbolaget Skandia Omsesidigt increased its position in shares of Avery Dennison by 164.4% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 267 shares of the industrial products company’s stock valued at $54,000 after buying an additional 166 shares during the period. 94.17% of the stock is owned by institutional investors.

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.