Citigroup Increases Avery Dennison (NYSE:AVY) Price Target to $132.00

Avery Dennison (NYSE:AVY) had its target price boosted by analysts at Citigroup from $130.00 to $132.00 in a research report issued on Thursday, BenzingaRatingsTable reports. The brokerage presently has a “buy” rating on the industrial products company’s stock. Citigroup‘s target price would indicate a potential upside of 16.32% from the stock’s previous close.

AVY has been the topic of a number of other research reports. Zacks Investment Research downgraded shares of Wix.Com from a “hold” rating to a “sell” rating in a research report on Monday, April 8th. Loop Capital downgraded shares of Avery Dennison from a “buy” rating to a “hold” rating in a research report on Wednesday, March 20th. They noted that the move was a valuation call. KeyCorp restated a “hold” rating on shares of Silgan in a research report on Wednesday, April 24th. Finally, JPMorgan Chase & Co. set a €8.75 ($10.17) price objective on shares of Commerzbank and gave the company a “buy” rating in a research report on Thursday, April 18th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $119.38.

NYSE:AVY opened at $113.48 on Thursday. The firm’s 50 day moving average price is $111.20. Avery Dennison has a 52 week low of $82.89 and a 52 week high of $120.65. The company has a current ratio of 1.14, a quick ratio of 0.80 and a debt-to-equity ratio of 1.77. The stock has a market capitalization of $9.67 billion, a PE ratio of 18.73, a price-to-earnings-growth ratio of 2.12 and a beta of 1.35.



Avery Dennison (NYSE:AVY) last posted its quarterly earnings results on Wednesday, April 24th. The industrial products company reported $1.48 EPS for the quarter, beating the Zacks’ consensus estimate of $1.46 by $0.02. The firm had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.77 billion. Avery Dennison had a net margin of 2.74% and a return on equity of 53.28%. The business’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.44 earnings per share. On average, sell-side analysts forecast that Avery Dennison will post 6.55 EPS for the current year.

In other Avery Dennison news, Director Ken C. Hicks sold 9,691 shares of the stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $110.10, for a total value of $1,066,979.10. Following the transaction, the director now directly owns 28,396 shares in the company, valued at $3,126,399.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Lori J. Bondar sold 5,000 shares of the stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $111.50, for a total transaction of $557,500.00. Following the completion of the transaction, the vice president now owns 22,428 shares in the company, valued at $2,500,722. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 17,416 shares of company stock worth $1,933,140. 1.30% of the stock is owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Horizon Investments LLC bought a new position in Avery Dennison in the first quarter worth approximately $271,000. Gotham Asset Management LLC raised its position in Avery Dennison by 457.3% in the fourth quarter. Gotham Asset Management LLC now owns 68,168 shares of the industrial products company’s stock worth $6,124,000 after acquiring an additional 55,937 shares during the period. Fenimore Asset Management Inc. raised its position in Avery Dennison by 7.1% in the first quarter. Fenimore Asset Management Inc. now owns 576,491 shares of the industrial products company’s stock worth $65,143,000 after acquiring an additional 38,207 shares during the period. Xact Kapitalforvaltning AB raised its position in Avery Dennison by 9.8% in the first quarter. Xact Kapitalforvaltning AB now owns 17,022 shares of the industrial products company’s stock worth $1,923,000 after acquiring an additional 1,526 shares during the period. Finally, New York State Common Retirement Fund raised its position in shares of Avery Dennison by 6.9% during the 1st quarter. New York State Common Retirement Fund now owns 213,000 shares of the industrial products company’s stock valued at $24,069,000 after purchasing an additional 13,685 shares during the period. Institutional investors and hedge funds own 88.12% 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, as well as durable cast and reflective films.

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Analyst Recommendations for Avery Dennison (NYSE:AVY)

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