Bank of America Boosts Avery Dennison (NYSE:AVY) Price Target to $208.00

Avery Dennison (NYSE:AVY) had its target price raised by research analysts at Bank of America from $195.00 to $208.00 in a report released on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the industrial products company’s stock. Bank of America‘s price target indicates a potential upside of 12.74% from the company’s current price.

Several other analysts have also commented on the company. Robert W. Baird decreased their price target on Avery Dennison from $220.00 to $210.00 and set an “outperform” rating on the stock in a research note on Thursday, April 24th. Wall Street Zen raised Avery Dennison from a “sell” rating to a “hold” rating in a research note on Thursday, May 22nd. Raymond James Financial reduced their price objective on Avery Dennison from $208.00 to $194.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 22nd. Jefferies Financial Group began coverage on Avery Dennison in a research note on Tuesday, April 22nd. They issued a “hold” rating and a $175.00 price objective on the stock. Finally, JPMorgan Chase & Co. lowered Avery Dennison from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $205.00 to $172.00 in a research note on Thursday, April 24th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Avery Dennison currently has an average rating of “Moderate Buy” and a consensus price target of $198.60.

Avery Dennison Price Performance

Shares of NYSE:AVY opened at $184.50 on Wednesday. Avery Dennison has a 1-year low of $157.00 and a 1-year high of $233.48. The firm has a market capitalization of $14.42 billion, a PE ratio of 21.26, a PEG ratio of 2.94 and a beta of 0.87. The business’s 50 day moving average is $178.44 and its 200-day moving average is $179.96. The company has a current ratio of 1.03, a quick ratio of 0.68 and a debt-to-equity ratio of 1.19.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings results on Wednesday, April 23rd. The industrial products company reported $2.30 EPS for the quarter, missing the consensus estimate of $2.32 by ($0.02). The company had revenue of $2.15 billion during the quarter, compared to analyst estimates of $2.15 billion. Avery Dennison had a net margin of 7.98% and a return on equity of 33.11%. Avery Dennison’s quarterly revenue was down .1% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.29 EPS. Sell-side analysts predict that Avery Dennison will post 9.96 earnings per share for the current year.

Institutional Investors Weigh In On Avery Dennison

A number of institutional investors and hedge funds have recently made changes to their positions in AVY. HBK Sorce Advisory LLC increased its holdings in Avery Dennison by 0.5% in the fourth quarter. HBK Sorce Advisory LLC now owns 11,862 shares of the industrial products company’s stock valued at $2,220,000 after purchasing an additional 58 shares during the last quarter. Baker Avenue Asset Management LP increased its holdings in Avery Dennison by 5.7% in the fourth quarter. Baker Avenue Asset Management LP now owns 1,100 shares of the industrial products company’s stock valued at $206,000 after purchasing an additional 59 shares during the last quarter. Grove Bank & Trust increased its holdings in Avery Dennison by 17.7% in the first quarter. Grove Bank & Trust now owns 393 shares of the industrial products company’s stock valued at $70,000 after purchasing an additional 59 shares during the last quarter. Smith Moore & CO. increased its holdings in Avery Dennison by 1.4% in the fourth quarter. Smith Moore & CO. now owns 4,720 shares of the industrial products company’s stock valued at $883,000 after purchasing an additional 63 shares during the last quarter. Finally, Assetmark Inc. increased its holdings in Avery Dennison by 22.5% in the fourth quarter. Assetmark Inc. now owns 397 shares of the industrial products company’s stock valued at $74,000 after purchasing an additional 73 shares during the last quarter. Institutional investors 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.