Avery Dennison (NYSE:AVY) Research Coverage Started at Jefferies Financial Group

Jefferies Financial Group assumed coverage on shares of Avery Dennison (NYSE:AVY) in a report released on Tuesday morning, MarketBeat.com reports. The firm issued a hold rating and a $175.00 price objective on the industrial products company’s stock.

Other equities analysts have also recently issued research reports about the company. Truist Financial restated a “buy” rating and set a $215.00 price target (down previously from $245.00) on shares of Avery Dennison in a report on Friday, January 31st. Citigroup lowered their price objective on shares of Avery Dennison from $228.00 to $202.00 and set a “neutral” rating for the company in a research report on Monday, January 6th. UBS Group decreased their target price on shares of Avery Dennison from $207.00 to $189.00 and set a “neutral” rating on the stock in a research report on Monday, April 7th. Raymond James reiterated an “outperform” rating and issued a $208.00 price target (down previously from $218.00) on shares of Avery Dennison in a research report on Friday, January 31st. Finally, JPMorgan Chase & Co. upgraded Avery Dennison from a “neutral” rating to an “overweight” rating and decreased their price objective for the company from $210.00 to $205.00 in a research report on Friday, January 31st. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $210.63.

Avery Dennison Stock Up 2.0 %

Shares of AVY opened at $173.62 on Tuesday. The business’s 50 day moving average is $176.76 and its 200 day moving average is $190.10. The company has a current ratio of 1.08, a quick ratio of 0.73 and a debt-to-equity ratio of 1.10. Avery Dennison has a 12-month low of $157.00 and a 12-month high of $233.48. The company has a market capitalization of $13.63 billion, a PE ratio of 19.91, a price-to-earnings-growth ratio of 2.07 and a beta of 0.85.

Avery Dennison (NYSE:AVY) last released its quarterly earnings data on Wednesday, April 23rd. The industrial products company reported $2.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.32 by ($0.02). The company had revenue of $2.15 billion for the quarter, compared to the consensus estimate of $2.15 billion. Avery Dennison had a net margin of 8.05% and a return on equity of 33.06%. Research analysts expect that Avery Dennison will post 9.96 earnings per share for the current fiscal year.

Avery Dennison Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were paid a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date of this dividend was Wednesday, March 5th. Avery Dennison’s dividend payout ratio is currently 40.37%.

Insider Transactions at Avery Dennison

In other Avery Dennison news, Chairman Mitchell R. Butier sold 12,969 shares of the business’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $181.85, for a total value of $2,358,412.65. Following the completion of the sale, the chairman now directly owns 303,331 shares of the company’s stock, valued at $55,160,742.35. The trade was a 4.10 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.84% of the company’s stock.

Institutional Trading of Avery Dennison

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

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.