Avery Dennison (NYSE:AVY) PT Raised to $220.00 at JPMorgan Chase & Co.

Avery Dennison (NYSE:AVY) had its price objective raised by equities researchers at JPMorgan Chase & Co. from $218.00 to $220.00 in a report released on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the industrial products company’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 0.45% from the stock’s previous close.

A number of other brokerages have also issued reports on AVY. Bank of America lowered shares of Avery Dennison from a “buy” rating to an “underperform” rating and set a $208.00 price objective for the company. in a report on Tuesday, January 2nd. StockNews.com raised shares of Avery Dennison from a “hold” rating to a “buy” rating in a report on Monday, April 22nd. Truist Financial reissued a “buy” rating and issued a $249.00 price objective on shares of Avery Dennison in a report on Friday, January 19th. Robert W. Baird upped their price objective on shares of Avery Dennison from $215.00 to $230.00 and gave the company an “outperform” rating in a report on Thursday. Finally, Citigroup upped their price objective on shares of Avery Dennison from $223.00 to $234.00 and gave the company a “neutral” rating in a report on Thursday, April 4th. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $224.00.

Avery Dennison Price Performance

Avery Dennison stock opened at $219.02 on Thursday. Avery Dennison has a 52-week low of $158.93 and a 52-week high of $225.26. The firm has a market capitalization of $17.64 billion, a price-to-earnings ratio of 31.97, a PEG ratio of 3.28 and a beta of 0.90. The company has a fifty day simple moving average of $215.71 and a 200-day simple moving average of $200.36. The company has a quick ratio of 0.69, a current ratio of 0.87 and a debt-to-equity ratio of 0.94.

Avery Dennison (NYSE:AVY) last released its earnings results on Wednesday, January 31st. The industrial products company reported $2.16 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $2.16. Avery Dennison had a net margin of 6.56% and a return on equity of 32.59%. The business had revenue of $2.11 billion during the quarter, compared to analyst estimates of $2.10 billion. During the same quarter in the prior year, the firm earned $1.65 earnings per share. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. On average, equities analysts anticipate that Avery Dennison will post 9.26 EPS for the current fiscal year.

Insider Buying and Selling at Avery Dennison

In other Avery Dennison news, Chairman Mitchell R. Butier sold 8,168 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $217.36, for a total value of $1,775,396.48. Following the transaction, the chairman now owns 321,487 shares of the company’s stock, valued at $69,878,414.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, SVP Ignacio J. Walker sold 5,000 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $213.90, for a total transaction of $1,069,500.00. Following the sale, the senior vice president now owns 6,102 shares of the company’s stock, valued at $1,305,217.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Mitchell R. Butier sold 8,168 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $217.36, for a total transaction of $1,775,396.48. Following the sale, the chairman now directly owns 321,487 shares in the company, valued at approximately $69,878,414.32. The disclosure for this sale can be found here. Insiders have sold 19,879 shares of company stock valued at $4,217,705 over the last 90 days. 1.10% of the stock is owned by insiders.

Institutional Trading of Avery Dennison

Several hedge funds have recently made changes to their positions in the business. Ameriprise Financial Inc. lifted its position in shares of Avery Dennison by 22.7% during the third quarter. Ameriprise Financial Inc. now owns 2,670,469 shares of the industrial products company’s stock worth $487,857,000 after purchasing an additional 493,857 shares in the last quarter. Morgan Stanley raised its holdings in Avery Dennison by 55.7% in the third quarter. Morgan Stanley now owns 1,788,321 shares of the industrial products company’s stock valued at $326,673,000 after acquiring an additional 639,521 shares in the last quarter. Cerity Partners LLC raised its holdings in Avery Dennison by 4,159.9% in the fourth quarter. Cerity Partners LLC now owns 1,191,228 shares of the industrial products company’s stock valued at $240,819,000 after acquiring an additional 1,163,264 shares in the last quarter. Truist Financial Corp raised its holdings in Avery Dennison by 5.5% in the third quarter. Truist Financial Corp now owns 1,096,524 shares of the industrial products company’s stock valued at $200,302,000 after acquiring an additional 57,106 shares in the last quarter. Finally, Boston Partners raised its holdings in Avery Dennison by 43.9% in the third quarter. Boston Partners now owns 1,007,542 shares of the industrial products company’s stock valued at $184,026,000 after acquiring an additional 307,325 shares in the last quarter. Institutional investors and hedge funds own 94.17% of the company’s stock.

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.