Avery Dennison Co. (NYSE:AVY) Receives $239.96 Consensus Target Price from Analysts

Avery Dennison Co. (NYSE:AVY) has earned a consensus rating of “Moderate Buy” from the eleven research firms that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $239.78.

Several research firms recently commented on AVY. Citigroup raised their price target on shares of Avery Dennison from $230.00 to $241.00 and gave the stock a “neutral” rating in a report on Monday, July 8th. Robert W. Baird lifted their target price on shares of Avery Dennison from $230.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, June 7th. Stifel Nicolaus assumed coverage on shares of Avery Dennison in a research note on Tuesday, July 9th. They issued a “buy” rating and a $274.60 price target on the stock. UBS Group cut Avery Dennison from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $262.00 to $235.00 in a research report on Thursday, July 25th. Finally, Truist Financial upped their target price on Avery Dennison from $253.00 to $258.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th.

Avery Dennison Trading Up 3.1 %

NYSE AVY opened at $215.77 on Friday. The firm’s 50 day moving average price is $215.74 and its two-hundred day moving average price is $218.84. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.60 and a current ratio of 0.90. Avery Dennison has a twelve month low of $165.21 and a twelve month high of $233.48. The stock has a market cap of $17.38 billion, a price-to-earnings ratio of 31.50, a PEG ratio of 1.81 and a beta of 0.88.

Avery Dennison (NYSE:AVY) last posted its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $2.42 earnings per share for the quarter, beating the consensus estimate of $2.26 by $0.16. Avery Dennison had a return on equity of 33.44% and a net margin of 7.34%. The firm had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.18 billion. During the same period in the previous year, the firm earned $1.92 earnings per share. Avery Dennison’s quarterly revenue was up 6.9% on a year-over-year basis. Equities analysts anticipate that Avery Dennison will post 9.41 EPS for the current year.

Avery Dennison Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, September 4th were given a dividend of $0.88 per share. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $3.52 dividend on an annualized basis and a yield of 1.63%. Avery Dennison’s payout ratio is currently 51.39%.

Insider Activity

In related news, Chairman Mitchell R. Butier sold 7,108 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $218.12, for a total transaction of $1,550,396.96. Following the completion of the sale, the chairman now directly owns 304,114 shares of the company’s stock, valued at approximately $66,333,345.68. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Avery Dennison news, Chairman Mitchell R. Butier sold 7,108 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $218.12, for a total transaction of $1,550,396.96. Following the completion of the transaction, the chairman now owns 304,114 shares of the company’s stock, valued at approximately $66,333,345.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Mitchell R. Butier sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $214.21, for a total value of $2,142,100.00. Following the completion of the sale, the chairman now directly owns 304,114 shares in the company, valued at $65,144,259.94. The disclosure for this sale can be found here. Insiders have sold a total of 59,108 shares of company stock valued at $12,545,087 over the last 90 days. 1.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Sanctuary Advisors LLC acquired a new position in Avery Dennison during the 2nd quarter valued at $2,710,000. Brown Financial Advisors bought a new position in shares of Avery Dennison during the 2nd quarter worth about $851,000. EP Wealth Advisors LLC raised its position in shares of Avery Dennison by 21.5% during the second quarter. EP Wealth Advisors LLC now owns 1,134 shares of the industrial products company’s stock valued at $248,000 after buying an additional 201 shares during the last quarter. Quarry LP lifted its stake in shares of Avery Dennison by 1,814.3% in the second quarter. Quarry LP now owns 536 shares of the industrial products company’s stock valued at $117,000 after buying an additional 508 shares during the period. Finally, Coastal Bridge Advisors LLC acquired a new stake in Avery Dennison during the second quarter worth about $269,000. 94.17% of the stock is currently owned by institutional investors and hedge funds.

About Avery Dennison

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.