Shares of Avery Dennison Corp (NYSE:AVY) have earned an average rating of “Buy” from the ten ratings firms that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $124.00.
AVY has been the topic of a number of analyst reports. Zacks Investment Research cut shares of Avery Dennison from a “buy” rating to a “hold” rating in a research note on Friday, June 8th. Barclays dropped their price objective on shares of Avery Dennison from $135.00 to $130.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 27th. Loop Capital set a $111.00 price objective on shares of Avery Dennison and gave the stock a “hold” rating in a research note on Friday, July 13th. Citigroup raised their price objective on shares of Avery Dennison from $126.00 to $130.00 and gave the stock a “buy” rating in a research note on Wednesday, July 25th. Finally, Bank of America increased their target price on Avery Dennison from $114.00 to $126.00 and gave the company a “buy” rating in a research report on Wednesday, July 25th.
Shares of NYSE AVY traded down $0.20 during midday trading on Friday, reaching $112.38. 16,694 shares of the stock were exchanged, compared to its average volume of 463,606. The stock has a market capitalization of $9.76 billion, a price-to-earnings ratio of 22.66, a PEG ratio of 2.62 and a beta of 1.25. Avery Dennison has a twelve month low of $98.02 and a twelve month high of $123.67. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.10 and a quick ratio of 0.79.
Avery Dennison (NYSE:AVY) last issued its quarterly earnings data on Tuesday, July 24th. The industrial products company reported $1.66 EPS for the quarter, topping analysts’ consensus estimates of $1.55 by $0.11. The business had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.80 billion. Avery Dennison had a net margin of 3.83% and a return on equity of 47.47%. The business’s revenue was up 14.0% on a year-over-year basis. During the same quarter last year, the company earned $1.31 EPS. analysts anticipate that Avery Dennison will post 6.08 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 19th. Stockholders of record on Wednesday, September 5th were given a dividend of $0.52 per share. The ex-dividend date was Tuesday, September 4th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.85%. Avery Dennison’s dividend payout ratio (DPR) is 41.60%.
In other news, Director Anthony Anderson sold 1,275 shares of the stock in a transaction that occurred on Friday, September 7th. The stock was sold at an average price of $104.75, for a total transaction of $133,556.25. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Georges Gravanis sold 13,000 shares of the stock in a transaction that occurred on Monday, July 30th. The shares were sold at an average price of $112.67, for a total value of $1,464,710.00. Following the transaction, the insider now owns 11,886 shares in the company, valued at approximately $1,339,195.62. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.
A number of hedge funds have recently made changes to their positions in AVY. Squar Milner Financial Services LLC purchased a new position in Avery Dennison in the 2nd quarter valued at $112,000. Steward Partners Investment Advisory LLC lifted its holdings in Avery Dennison by 270.4% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 1,152 shares of the industrial products company’s stock valued at $118,000 after purchasing an additional 841 shares in the last quarter. Fort L.P. purchased a new position in Avery Dennison in the 2nd quarter valued at $120,000. Tiverton Asset Management LLC lifted its holdings in Avery Dennison by 50.7% in the 1st quarter. Tiverton Asset Management LLC now owns 1,478 shares of the industrial products company’s stock valued at $157,000 after purchasing an additional 497 shares in the last quarter. Finally, Nichols & Pratt Advisers LLP MA purchased a new position in Avery Dennison in the 2nd quarter valued at $204,000. Institutional investors own 84.59% of the company’s stock.
Avery Dennison Company Profile
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. It also offers durable cast and reflective films.
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