Avery Dennison Co. (NYSE:AVY) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Avery Dennison Co. (NYSE:AVY) have been assigned a consensus recommendation of “Moderate Buy” from the eleven research firms that are covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $244.96.

A number of analysts have recently issued reports on AVY shares. StockNews.com downgraded shares of Avery Dennison from a “buy” rating to a “hold” rating in a report on Thursday, October 24th. JPMorgan Chase & Co. cut Avery Dennison from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $230.00 to $210.00 in a research note on Thursday, October 24th. Bank of America raised Avery Dennison from an “underperform” rating to a “buy” rating and upped their price target for the company from $207.00 to $250.00 in a research note on Thursday, October 17th. BMO Capital Markets cut their price objective on Avery Dennison from $252.00 to $247.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Finally, Citigroup decreased their target price on shares of Avery Dennison from $241.00 to $240.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 2nd.

Avery Dennison Stock Performance

Shares of Avery Dennison stock opened at $188.51 on Friday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.62 and a current ratio of 0.92. The business’s 50 day moving average price is $200.96 and its 200 day moving average price is $211.73. The company has a market cap of $15.15 billion, a price-to-earnings ratio of 22.63, a PEG ratio of 1.52 and a beta of 0.87. Avery Dennison has a one year low of $185.73 and a one year high of $233.48.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $2.33 earnings per share for the quarter, beating the consensus estimate of $2.32 by $0.01. Avery Dennison had a net margin of 7.76% and a return on equity of 33.01%. The firm had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.20 billion. During the same quarter in the previous year, the company posted $2.10 EPS. The company’s revenue was up 4.1% compared to the same quarter last year. On average, research analysts predict that Avery Dennison will post 9.42 EPS for the current year.

Avery Dennison Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th were issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date of this dividend was Wednesday, December 4th. Avery Dennison’s dividend payout ratio (DPR) is currently 42.26%.

Insiders Place Their Bets

In other Avery Dennison news, SVP Nicholas Colisto sold 3,679 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $206.00, for a total transaction of $757,874.00. Following the sale, the senior vice president now owns 7,126 shares in the company, valued at $1,467,956. This represents a 34.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Avery Dennison

A number of institutional investors and hedge funds have recently made changes to their positions in AVY. Innealta Capital LLC purchased a new position in Avery Dennison in the second quarter worth approximately $28,000. Larson Financial Group LLC lifted its position in shares of Avery Dennison by 100.0% during the 3rd quarter. Larson Financial Group LLC now owns 142 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 71 shares during the last quarter. Kennebec Savings Bank acquired a new position in shares of Avery Dennison during the third quarter worth $36,000. Peterson Financial Group Inc. purchased a new position in Avery Dennison in the third quarter valued at $39,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in Avery Dennison in the second quarter valued at $42,000. 94.17% of the stock is owned by institutional investors and hedge funds.

Avery Dennison Company Profile

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.