UBS Group Issues Positive Forecast for Avery Dennison (NYSE:AVY) Stock Price

Avery Dennison (NYSE:AVY) had its target price lifted by UBS Group from $225.00 to $230.00 in a research note published on Friday morning,Benzinga reports. UBS Group currently has a buy rating on the industrial products company’s stock.

AVY has been the topic of several other reports. Truist Financial reduced their target price on Avery Dennison from $209.00 to $208.00 and set a “buy” rating on the stock in a report on Monday, October 12th. Wall Street Zen lowered Avery Dennison from a “buy” rating to a “hold” rating in a research report on Saturday. Jefferies Financial Group reiterated a “hold” rating and set a $181.00 price objective on shares of Avery Dennison in a report on Monday, September 28th. Bank of America reiterated a “buy” rating on shares of Avery Dennison in a research report on Friday, August 14th. Finally, Weiss Ratings raised Avery Dennison from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. Six analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $200.60.

Avery Dennison Stock Down 0.0%

Avery Dennison stock opened at $182.19 on Friday. The firm has a market capitalization of $13.81 billion, a price-to-earnings ratio of 19.72, a PEG ratio of 2.15 and a beta of 0.79. The company’s 50 day simple moving average is $174.24 and its 200 day simple moving average is $172.28. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.16 and a quick ratio of 0.80. Avery Dennison has a fifty-two week low of $152.42 and a fifty-two week high of $199.54.

Avery Dennison (NYSE:AVY) last posted its earnings results on Thursday, October 29th. The industrial products company reported $2.42 earnings per share for the quarter, topping the consensus estimate of $2.32 by $0.10. The company had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.26 billion. Avery Dennison had a net margin of 7.56% and a return on equity of 33.88%. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period last year, the business posted $2.37 earnings per share. As a group, sell-side analysts anticipate that Avery Dennison will post 10.17 EPS for the current year.

Avery Dennison Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 16th. Investors of record on Wednesday, December 2nd will be paid a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.2%. The ex-dividend date is Wednesday, December 2nd. Avery Dennison’s dividend payout ratio (DPR) is 43.29%.

Insider Buying and Selling

In other news, SVP Nicholas Colisto sold 3,886 shares of the business’s stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $170.68, for a total transaction of $663,262.48. Following the completion of the sale, the senior vice president owned 7,126 shares in the company, valued at $1,216,265.68. The trade was a 35.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Ignacio Walker sold 1,742 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $171.61, for a total value of $298,944.62. Following the completion of the transaction, the senior vice president directly owned 7,585 shares in the company, valued at $1,301,661.85. The trade was a 18.68% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.81% of the company’s stock.

Institutional Investors Weigh In On Avery Dennison

Hedge funds and other institutional investors have recently modified their holdings of the company. Bank of America Corp DE bought a new stake in shares of Avery Dennison in the second quarter valued at $142,169,000. HighTower Advisors LLC grew its stake in shares of Avery Dennison by 32.9% during the 2nd quarter. HighTower Advisors LLC now owns 68,647 shares of the industrial products company’s stock worth $11,145,000 after acquiring an additional 17,003 shares during the period. QRG Capital Management Inc. grew its stake in shares of Avery Dennison by 172.3% during the 2nd quarter. QRG Capital Management Inc. now owns 7,301 shares of the industrial products company’s stock worth $1,185,000 after acquiring an additional 4,620 shares during the period. AXQ Capital LP purchased a new stake in Avery Dennison in the 2nd quarter worth about $1,053,000. Finally, Corient Private Wealth LP increased its holdings in Avery Dennison by 91.1% in the 2nd quarter. Corient Private Wealth LP now owns 124,011 shares of the industrial products company’s stock worth $20,133,000 after acquiring an additional 59,109 shares during the last quarter. Institutional investors and hedge funds own 94.17% of the company’s stock.

Avery Dennison Company Profile

Avery Dennison Corporation (NYSE: AVY) is a global materials science and manufacturing company that develops and produces labeling, packaging, graphic, and functional materials. Its products are used by businesses across industries including consumer goods, retail, logistics, apparel, automotive, healthcare, and industrial manufacturing.

The company’s offerings include pressure-sensitive labels and label materials, adhesives, industrial and specialty tapes, graphic films, and packaging materials.