Avery Dennison (NYSE:AVY) Given New $210.00 Price Target at Truist Financial

Avery Dennison (NYSE:AVY) had its target price cut by equities researchers at Truist Financial from $215.00 to $210.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the industrial products company’s stock. Truist Financial’s price target points to a potential upside of 20.42% from the company’s current price.

A number of other equities analysts have also commented on AVY. Bank of America cut their price target on Avery Dennison from $238.00 to $220.00 and set a “buy” rating for the company in a report on Monday, January 6th. BMO Capital Markets set a $226.00 target price on Avery Dennison in a report on Monday, February 3rd. UBS Group cut their price objective on shares of Avery Dennison from $207.00 to $189.00 and set a “neutral” rating for the company in a research report on Monday, April 7th. JPMorgan Chase & Co. raised shares of Avery Dennison from a “neutral” rating to an “overweight” rating and cut their price target for the company from $210.00 to $205.00 in a report on Friday, January 31st. Finally, Raymond James reissued an “outperform” rating and set a $208.00 price objective (down previously from $218.00) on shares of Avery Dennison in a research note on Friday, January 31st. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $216.63.

Avery Dennison Stock Performance

Shares of AVY stock traded up $5.36 during trading hours on Tuesday, hitting $174.39. 359,128 shares of the company were exchanged, compared to its average volume of 584,573. Avery Dennison has a 52-week low of $157.00 and a 52-week high of $233.48. The company has a current ratio of 1.08, a quick ratio of 0.73 and a debt-to-equity ratio of 1.10. The firm has a fifty day simple moving average of $177.31 and a 200 day simple moving average of $190.63. The stock has a market capitalization of $13.70 billion, a price-to-earnings ratio of 20.01, a P/E/G ratio of 2.07 and a beta of 0.85.

Avery Dennison (NYSE:AVY) last posted its earnings results on Thursday, January 30th. The industrial products company reported $2.38 earnings per share for the quarter, missing the consensus estimate of $2.39 by ($0.01). Avery Dennison had a return on equity of 33.06% and a net margin of 8.05%. Research analysts predict that Avery Dennison will post 9.96 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Avery Dennison news, Chairman Mitchell R. Butier sold 8,068 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $186.19, for a total transaction of $1,502,180.92. Following the completion of the sale, the chairman now owns 316,300 shares of the company’s stock, valued at $58,891,897. This represents a 2.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.84% of the company’s stock.

Institutional Trading of Avery Dennison

Several large investors have recently modified their holdings of AVY. Regents Gate Capital LLP bought a new stake in shares of Avery Dennison in the 4th quarter worth approximately $37,000. American National Bank & Trust bought a new position in Avery Dennison in the 1st quarter worth $49,000. Spire Wealth Management boosted its stake in shares of Avery Dennison by 76.0% during the 4th quarter. Spire Wealth Management now owns 301 shares of the industrial products company’s stock valued at $56,000 after purchasing an additional 130 shares in the last quarter. VisionPoint Advisory Group LLC bought a new position in Avery Dennison in the fourth quarter worth about $68,000. Finally, AdvisorNet Financial Inc boosted its position in Avery Dennison by 18.8% during the 4th quarter. AdvisorNet Financial Inc now owns 367 shares of the industrial products company’s stock valued at $69,000 after acquiring an additional 58 shares in the last quarter. 94.17% of the stock is owned by institutional investors.

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.