Avery Dennison (NYSE:AVY) PT Raised to $253.00 at Truist Financial

Avery Dennison (NYSE:AVY) had its price target hoisted by investment analysts at Truist Financial from $248.00 to $253.00 in a research note issued to investors on Friday, 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 15.51% from the company’s previous close.

Other equities analysts also recently issued research reports about the stock. Raymond James reaffirmed an “outperform” rating and issued a $240.00 price objective (up previously from $225.00) on shares of Avery Dennison in a report on Thursday. Citigroup boosted their price objective on shares of Avery Dennison from $223.00 to $234.00 and gave the company a “neutral” rating in a research report on Thursday, April 4th. Robert W. Baird raised their target price on shares of Avery Dennison from $215.00 to $230.00 and gave the stock an “outperform” rating in a report on Thursday. Bank of America downgraded Avery Dennison from a “buy” rating to an “underperform” rating and set a $208.00 target price for the company. in a research note on Tuesday, January 2nd. Finally, UBS Group raised their price target on Avery Dennison from $225.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday, January 11th. One equities research 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $224.00.

Avery Dennison Price Performance

Shares of AVY stock opened at $219.03 on Friday. The firm has a market cap of $17.64 billion, a P/E ratio of 31.98, a P/E/G ratio of 3.35 and a beta of 0.90. The firm has a fifty day moving average of $215.71 and a two-hundred day moving average of $200.48. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.87 and a quick ratio of 0.69. Avery Dennison has a 1-year low of $158.93 and a 1-year high of $225.26.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings data on Wednesday, January 31st. The industrial products company reported $2.16 earnings per share for the quarter, meeting the consensus estimate of $2.16. Avery Dennison had a return on equity of 32.59% and a net margin of 6.56%. The firm had revenue of $2.11 billion during the quarter, compared to analyst estimates of $2.10 billion. During the same period in the previous year, the company earned $1.65 earnings per share. Avery Dennison’s quarterly revenue was up 4.2% on a year-over-year basis. As a group, research analysts anticipate that Avery Dennison will post 9.26 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Julia A. Stewart sold 5,311 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $202.26, for a total value of $1,074,202.86. Following the completion of the sale, the director now owns 5,018 shares of the company’s stock, valued at $1,014,940.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Julia A. Stewart sold 5,311 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $202.26, for a total transaction of $1,074,202.86. Following the sale, the director now owns 5,018 shares of the company’s stock, valued at $1,014,940.68. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Ryan D. Yost sold 1,400 shares of the stock in a transaction on Monday, March 11th. The shares were sold at an average price of $213.29, for a total value of $298,606.00. Following the transaction, the insider now directly owns 2,843 shares of the company’s stock, valued at $606,383.47. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 19,879 shares of company stock valued at $4,217,705. Company insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Avery Dennison

Hedge funds and other institutional investors have recently bought and sold shares of the business. AEGON ASSET MANAGEMENT UK Plc acquired a new position in shares of Avery Dennison in the 4th quarter worth approximately $2,715,000. Mutual of America Capital Management LLC increased its holdings in shares of Avery Dennison by 133.4% in the fourth quarter. Mutual of America Capital Management LLC now owns 26,318 shares of the industrial products company’s stock valued at $5,320,000 after buying an additional 15,040 shares in the last quarter. Cerity Partners LLC lifted its position in shares of Avery Dennison by 4,159.9% during the 4th 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 during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Avery Dennison by 192.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 10,713 shares of the industrial products company’s stock worth $2,166,000 after acquiring an additional 7,047 shares in the last quarter. Finally, Janney Montgomery Scott LLC grew its holdings in shares of Avery Dennison by 736.1% in the 3rd quarter. Janney Montgomery Scott LLC now owns 142,766 shares of the industrial products company’s stock worth $26,080,000 after acquiring an additional 125,691 shares during the last quarter. 94.17% of the stock is currently owned by institutional investors.

About Avery Dennison

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.