Raymond James Reiterates Outperform Rating for Avery Dennison (NYSE:AVY)

Avery Dennison (NYSE:AVY)‘s stock had its “outperform” rating reiterated by research analysts at Raymond James in a research note issued to investors on Thursday, Benzinga reports. They presently have a $240.00 price target on the industrial products company’s stock, up from their prior price target of $225.00. Raymond James’ target price suggests a potential upside of 9.58% from the company’s previous close.

Other research analysts have also issued research reports about the company. Robert W. Baird boosted their target price on Avery Dennison from $215.00 to $230.00 and gave the company an “outperform” rating in a report on Thursday. Citigroup boosted their target price on Avery Dennison from $223.00 to $234.00 and gave the stock a “neutral” rating in a research report on Thursday, April 4th. Bank of America downgraded Avery Dennison from a “buy” rating to an “underperform” rating and set a $208.00 target price on the stock. in a research report on Tuesday, January 2nd. StockNews.com upgraded Avery Dennison from a “hold” rating to a “buy” rating in a research report on Monday, April 22nd. Finally, JPMorgan Chase & Co. boosted their target price on Avery Dennison from $185.00 to $218.00 and gave the stock an “overweight” rating in a research report on Thursday, February 1st. One research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $224.00.

Avery Dennison Trading Up 0.9 %

AVY opened at $219.02 on Thursday. The firm has a market cap of $17.64 billion, a price-to-earnings ratio of 31.97, a price-to-earnings-growth ratio of 3.28 and a beta of 0.90. Avery Dennison has a 52 week low of $158.93 and a 52 week high of $225.26. The business’s 50 day moving average is $215.71 and its two-hundred day moving average is $200.36. The company has a quick ratio of 0.69, a current ratio of 0.87 and a debt-to-equity ratio of 0.94.

Avery Dennison (NYSE:AVY) last released its earnings results on Wednesday, January 31st. The industrial products company reported $2.16 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.16. The business had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.10 billion. Avery Dennison had a return on equity of 32.59% and a net margin of 6.56%. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.65 earnings per share. On average, research analysts predict that Avery Dennison will post 9.26 EPS for the current year.

Insider Activity

In other news, insider Ryan D. Yost sold 1,400 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $213.29, for a total value of $298,606.00. Following the sale, the insider now directly owns 2,843 shares in the company, valued at $606,383.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Ignacio J. Walker sold 5,000 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $213.90, for a total value of $1,069,500.00. Following the sale, the senior vice president now directly owns 6,102 shares in the company, valued at $1,305,217.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ryan D. Yost sold 1,400 shares of the stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $213.29, for a total value of $298,606.00. Following the transaction, the insider now owns 2,843 shares in the company, valued at $606,383.47. The disclosure for this sale can be found here. Insiders have sold 19,879 shares of company stock worth $4,217,705 over the last three months. 1.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Avery Dennison

Several large investors have recently added to or reduced their stakes in AVY. Cerity Partners LLC lifted its position in Avery Dennison by 4,159.9% during the fourth quarter. Cerity Partners LLC now owns 1,191,228 shares of the industrial products company’s stock worth $240,819,000 after buying an additional 1,163,264 shares during the period. Norges Bank purchased a new position in Avery Dennison during the fourth quarter worth about $185,292,000. Morgan Stanley lifted its position in Avery Dennison by 55.7% during the third quarter. Morgan Stanley now owns 1,788,321 shares of the industrial products company’s stock worth $326,673,000 after buying an additional 639,521 shares during the period. Ameriprise Financial Inc. lifted its position in Avery Dennison by 22.7% during the third quarter. Ameriprise Financial Inc. now owns 2,670,469 shares of the industrial products company’s stock worth $487,857,000 after buying an additional 493,857 shares during the period. Finally, Boston Partners lifted its position in Avery Dennison by 43.9% during the third quarter. Boston Partners now owns 1,007,542 shares of the industrial products company’s stock worth $184,026,000 after buying an additional 307,325 shares during the period. 94.17% of the stock is currently owned by hedge funds and other 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.