Shares of Avery Dennison Corp (NYSE:AVY) have earned an average rating of “Hold” from the ten ratings firms that are covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, two have given a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $120.00.
AVY has been the subject of a number of recent analyst reports. Loop Capital set a $111.00 target price on Avery Dennison and gave the company a “hold” rating in a report on Friday, July 13th. Citigroup boosted their price objective on shares of Avery Dennison from $126.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, July 25th. Bank of America boosted their price objective on shares of Avery Dennison from $114.00 to $126.00 and gave the company a “buy” rating in a research note on Wednesday, July 25th. Barclays boosted their price objective on shares of Avery Dennison from $130.00 to $135.00 and gave the company an “overweight” rating in a research note on Monday, July 30th. Finally, Zacks Investment Research lowered shares of Avery Dennison from a “buy” rating to a “hold” rating in a research report on Tuesday, September 25th.
In other news, Director Anthony Anderson sold 1,275 shares of the business’s stock in a transaction dated 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 Securities & Exchange Commission, which is accessible through this hyperlink. 1.30% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of AVY. Jane Street Group LLC purchased a new position in Avery Dennison in the 1st quarter worth approximately $381,000. Millennium Management LLC grew its position in Avery Dennison by 39.6% in the first quarter. Millennium Management LLC now owns 113,810 shares of the industrial products company’s stock worth $12,092,000 after acquiring an additional 32,287 shares in the last quarter. Allianz Asset Management GmbH grew its position in Avery Dennison by 15.5% in the first quarter. Allianz Asset Management GmbH now owns 777,898 shares of the industrial products company’s stock worth $82,651,000 after acquiring an additional 104,395 shares in the last quarter. Gulf International Bank UK Ltd boosted its holdings in shares of Avery Dennison by 3.1% in the 2nd quarter. Gulf International Bank UK Ltd now owns 29,799 shares of the industrial products company’s stock worth $3,042,000 after purchasing an additional 900 shares in the last quarter. Finally, DnB Asset Management AS boosted its holdings in shares of Avery Dennison by 9.1% in the 2nd quarter. DnB Asset Management AS now owns 15,537 shares of the industrial products company’s stock worth $1,586,000 after purchasing an additional 1,300 shares in the last quarter. 83.76% of the stock is owned by institutional investors.
Shares of NYSE AVY traded down $1.62 during mid-day trading on Monday, hitting $92.00. The company had a trading volume of 1,180,073 shares, compared to its average volume of 939,766. The stock has a market cap of $8.09 billion, a PE ratio of 18.40, a price-to-earnings-growth ratio of 2.21 and a beta of 1.37. Avery Dennison has a 1 year low of $86.06 and a 1 year high of $123.67. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.71 and a current ratio of 1.00.
Avery Dennison (NYSE:AVY) last posted its earnings results on Tuesday, October 23rd. The industrial products company reported $1.45 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.47 by ($0.02). The company had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.75 billion. Avery Dennison had a net margin of 4.36% and a return on equity of 49.86%. The firm’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.26 EPS. On average, sell-side analysts predict that Avery Dennison will post 6.04 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 19th. Investors of record on Wednesday, December 5th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 2.26%. The ex-dividend date is Tuesday, December 4th. Avery Dennison’s payout ratio is 41.60%.
About Avery Dennison
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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