Avery Dennison Co. (NYSE:AVY) Given Average Rating of “Moderate Buy” by Analysts

Avery Dennison Co. (NYSE:AVYGet Free Report) has earned an average rating of “Moderate Buy” from the ten brokerages that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and eight have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $228.50.

Several equities analysts have recently issued reports on the company. Citigroup lifted their price objective on Avery Dennison from $223.00 to $234.00 and gave the company a “neutral” rating in a research note on Thursday, April 4th. Robert W. Baird boosted their target price on Avery Dennison from $215.00 to $230.00 and gave the stock an “outperform” rating in a research note on Thursday, April 25th. Argus boosted their target price on Avery Dennison from $240.00 to $245.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. Truist Financial boosted their target price on Avery Dennison from $248.00 to $253.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Finally, StockNews.com upgraded Avery Dennison from a “hold” rating to a “buy” rating in a research note on Monday, April 22nd.

View Our Latest Report on Avery Dennison

Avery Dennison Stock Performance

Shares of Avery Dennison stock opened at $227.47 on Wednesday. The business has a 50-day moving average of $220.78 and a 200 day moving average of $209.32. Avery Dennison has a 12 month low of $162.32 and a 12 month high of $229.98. The stock has a market capitalization of $18.32 billion, a price-to-earnings ratio of 33.21, a price-to-earnings-growth ratio of 2.09 and a beta of 0.91. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.87 and a quick ratio of 0.58.

Avery Dennison (NYSE:AVYGet Free Report) last announced its earnings results on Wednesday, April 24th. The industrial products company reported $2.29 EPS for the quarter, beating analysts’ consensus estimates of $2.15 by $0.14. The company had revenue of $2.15 billion during the quarter, compared to analysts’ expectations of $2.15 billion. Avery Dennison had a return on equity of 32.59% and a net margin of 6.56%. As a group, sell-side analysts forecast that Avery Dennison will post 9.32 earnings per share for the current year.

Avery Dennison Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Wednesday, June 5th will be paid a $0.88 dividend. The ex-dividend date of this dividend is Wednesday, June 5th. This represents a $3.52 dividend on an annualized basis and a yield of 1.55%. This is a boost from Avery Dennison’s previous quarterly dividend of $0.81. Avery Dennison’s payout ratio is currently 47.30%.

Insider Buying and Selling at Avery Dennison

In other Avery Dennison news, insider Ryan D. Yost sold 149 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $226.38, for a total value of $33,730.62. Following the completion of the sale, the insider now owns 2,110 shares in the company, valued at $477,661.80. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, SVP Deena Baker-Nel sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $228.17, for a total transaction of $684,510.00. Following the completion of the sale, the senior vice president now owns 1,577 shares in the company, valued at $359,824.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ryan D. Yost sold 149 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $226.38, for a total value of $33,730.62. Following the sale, the insider now owns 2,110 shares of the company’s stock, valued at approximately $477,661.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,777 shares of company stock worth $2,654,858. 1.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Annis Gardner Whiting Capital Advisors LLC purchased a new position in Avery Dennison in the third quarter worth $32,000. VisionPoint Advisory Group LLC purchased a new position in Avery Dennison in the fourth quarter worth $42,000. Anchor Investment Management LLC purchased a new position in Avery Dennison in the fourth quarter worth $42,000. Livforsakringsbolaget Skandia Omsesidigt raised its position in Avery Dennison by 164.4% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 267 shares of the industrial products company’s stock worth $54,000 after acquiring an additional 166 shares in the last quarter. Finally, Palisade Asset Management LLC purchased a new position in Avery Dennison in the first quarter worth $64,000. Hedge funds and other institutional investors own 94.17% of the company’s stock.

About Avery Dennison

(Get Free Report

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.

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Analyst Recommendations for Avery Dennison (NYSE:AVY)

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