Avery Dennison (AVY) Downgraded by ValuEngine to “Sell”

ValuEngine downgraded shares of Avery Dennison (NYSE:AVY) from a hold rating to a sell rating in a research report report published on Friday.

AVY has been the subject of a number of other research reports. JPMorgan Chase & Co. raised shares of Avery Dennison from a neutral rating to an overweight rating and cut their target price for the stock from $110.00 to $105.00 in a research report on Wednesday. Zacks Investment Research downgraded shares of Avery Dennison from a hold rating to a sell rating in a research report on Friday, October 5th. Citigroup cut their target price on shares of Avery Dennison from $130.00 to $128.00 and set a buy rating for the company in a research report on Thursday, October 11th. Loop Capital raised shares of Avery Dennison from a hold rating to a buy rating and set a $124.00 target price for the company in a research report on Thursday, September 13th. Finally, Bank of America lifted their target price on shares of Avery Dennison from $114.00 to $126.00 and gave the stock a buy rating in a research report on Wednesday, July 25th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $120.22.

NYSE:AVY traded down $0.88 during trading hours on Friday, reaching $88.12. The company had a trading volume of 1,100,358 shares, compared to its average volume of 734,566. The company has a current ratio of 1.00, a quick ratio of 0.79 and a debt-to-equity ratio of 1.24. Avery Dennison has a 52 week low of $86.06 and a 52 week high of $123.67. The company has a market cap of $7.78 billion, a PE ratio of 17.62, a price-to-earnings-growth ratio of 2.10 and a beta of 1.26.



Avery Dennison (NYSE:AVY) last posted its earnings results on Tuesday, October 23rd. The industrial products company reported $1.45 EPS for the quarter, missing analysts’ consensus estimates of $1.47 by ($0.02). Avery Dennison had a return on equity of 49.86% and a net margin of 4.36%. The company had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.75 billion. During the same period last year, the firm posted $1.26 EPS. The company’s revenue for the quarter was up 4.8% on a year-over-year basis. Research analysts forecast that Avery Dennison will post 6.04 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 19th. Stockholders of record on Wednesday, December 5th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 2.36%. The ex-dividend date of this dividend is Tuesday, December 4th. Avery Dennison’s dividend payout ratio is presently 41.60%.

In other news, Director Anthony Anderson sold 1,275 shares of Avery Dennison stock in a transaction on Friday, September 7th. The shares were sold at an average price of $104.75, for a total transaction of $133,556.25. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Georges Gravanis sold 13,000 shares of Avery Dennison stock in a transaction on Monday, July 30th. The stock was sold at an average price of $112.67, for a total transaction 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.

Several institutional investors have recently modified their holdings of the company. Congress Asset Management Co. MA boosted its stake in shares of Avery Dennison by 0.4% during the 3rd quarter. Congress Asset Management Co. MA now owns 827,183 shares of the industrial products company’s stock worth $89,625,000 after acquiring an additional 3,073 shares during the last quarter. Shufro Rose & Co. LLC boosted its stake in shares of Avery Dennison by 15.6% during the 3rd quarter. Shufro Rose & Co. LLC now owns 319,340 shares of the industrial products company’s stock worth $34,600,000 after acquiring an additional 43,167 shares during the last quarter. First Midwest Bank Trust Division boosted its stake in shares of Avery Dennison by 32.2% during the 3rd quarter. First Midwest Bank Trust Division now owns 22,486 shares of the industrial products company’s stock worth $2,436,000 after acquiring an additional 5,481 shares during the last quarter. BTIM Corp. lifted its stake in shares of Avery Dennison by 5.4% during the 3rd quarter. BTIM Corp. now owns 126,496 shares of the industrial products company’s stock valued at $13,706,000 after buying an additional 6,451 shares in the last quarter. Finally, AMI Asset Management Corp lifted its stake in shares of Avery Dennison by 22.7% during the 3rd quarter. AMI Asset Management Corp now owns 355,398 shares of the industrial products company’s stock valued at $38,507,000 after buying an additional 65,809 shares in the last quarter. Institutional investors and hedge funds own 84.25% 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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Analyst Recommendations for Avery Dennison (NYSE:AVY)

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