Avery Dennison (NYSE:AVY) Now Covered by StockNews.com

Research analysts at StockNews.com initiated coverage on shares of Avery Dennison (NYSE:AVY – Get Rating) in a research note issued to investors on Thursday. The brokerage set a “hold” rating on the industrial products company’s stock.

Several other equities analysts have also recently commented on AVY. BMO Capital Markets decreased their price target on shares of Avery Dennison from $240.00 to $233.00 and set an “outperform” rating for the company in a research report on Monday, February 6th. Citigroup raised their price target on shares of Avery Dennison from $204.00 to $216.00 in a research report on Wednesday, January 4th. Truist Financial decreased their price target on shares of Avery Dennison from $229.00 to $223.00 and set a “buy” rating for the company in a research report on Friday, February 3rd. Raymond James raised their price target on shares of Avery Dennison from $190.00 to $205.00 and gave the company an “outperform” rating in a research report on Wednesday, January 25th. Finally, Bank of America raised shares of Avery Dennison from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $200.00 to $205.00 in a research report on Thursday, December 15th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $207.10.

Avery Dennison Stock Down 1.7 %

Avery Dennison stock opened at $171.22 on Thursday. Avery Dennison has a fifty-two week low of $151.62 and a fifty-two week high of $204.37. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.63 and a current ratio of 0.99. The firm has a 50 day moving average price of $184.19 and a 200 day moving average price of $180.52. The company has a market capitalization of $13.89 billion, a PE ratio of 18.59, a price-to-earnings-growth ratio of 2.63 and a beta of 0.98.

Avery Dennison (NYSE:AVY – Get Rating) last posted its earnings results on Thursday, February 2nd. The industrial products company reported $1.65 earnings per share for the quarter, missing the consensus estimate of $2.10 by ($0.45). Avery Dennison had a net margin of 8.38% and a return on equity of 38.05%. The company had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.17 billion. During the same quarter last year, the business posted $2.13 EPS. The firm’s revenue for the quarter was down 7.2% on a year-over-year basis. Research analysts expect that Avery Dennison will post 9.27 earnings per share for the current year.

Insider Activity at Avery Dennison

In related news, Director Andres Alberto Lopez sold 5,800 shares of the business’s stock in a transaction on Friday, March 3rd. The shares were sold at an average price of $182.00, for a total value of $1,055,600.00. Following the completion of the sale, the director now directly owns 1,315 shares of the company’s stock, valued at $239,330. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Avery Dennison news, Director Andres Alberto Lopez sold 5,800 shares of Avery Dennison stock in a transaction on Friday, March 3rd. The shares were sold at an average price of $182.00, for a total value of $1,055,600.00. Following the transaction, the director now directly owns 1,315 shares in the company, valued at $239,330. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Nicholas Colisto sold 3,842 shares of Avery Dennison stock in a transaction on Thursday, March 2nd. The shares were sold at an average price of $180.43, for a total transaction of $693,212.06. Following the completion of the transaction, the senior vice president now owns 7,978 shares in the company, valued at $1,439,470.54. The disclosure for this sale can be found here. Insiders sold a total of 10,458 shares of company stock valued at $1,898,948 over the last ninety days. Insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. B. Riley Wealth Advisors Inc. acquired a new position in shares of Avery Dennison during the fourth quarter worth about $277,000. Smithbridge Asset Management Inc. DE acquired a new position in shares of Avery Dennison during the fourth quarter worth about $902,000. Voya Investment Management LLC increased its stake in shares of Avery Dennison by 10.1% during the fourth quarter. Voya Investment Management LLC now owns 594,680 shares of the industrial products company’s stock worth $107,637,000 after acquiring an additional 54,610 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in shares of Avery Dennison by 15.3% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 4,911 shares of the industrial products company’s stock worth $889,000 after acquiring an additional 652 shares during the period. Finally, Truist Financial Corp grew its position in Avery Dennison by 595.0% during the fourth quarter. Truist Financial Corp now owns 824,057 shares of the industrial products company’s stock worth $149,154,000 after buying an additional 705,483 shares during the period. 89.05% of the stock is currently owned by institutional investors and hedge funds.

About Avery Dennison

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Avery Dennison Corp. engages in the provision of labeling and packaging materials and solutions. It operates through the Materials and Solutions Group segments. The Materials Group segment manufactures and sells pressure-sensitive label materials, films for graphic and reflective products, performance tapes and other adhesive products for industrial, medical and other applications, as well as fastener solutions.