Citigroup Increases Avery Dennison (NYSE:AVY) Price Target to $185.00

Avery Dennison (NYSE:AVY) had its price target lifted by equities researchers at Citigroup from $177.00 to $185.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the industrial products company’s stock. Citigroup’s target price would indicate a potential upside of 1.54% from the company’s current price.

A number of other research firms have also recently weighed in on AVY. Barclays cut their price target on Avery Dennison from $225.00 to $210.00 and set an “overweight” rating for the company in a report on Thursday, April 24th. Jefferies Financial Group started coverage on Avery Dennison in a research note on Tuesday, April 22nd. They issued a “hold” rating and a $175.00 target price for the company. Truist Financial dropped their target price on Avery Dennison from $215.00 to $210.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. JPMorgan Chase & Co. lowered Avery Dennison from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $205.00 to $172.00 in a research note on Thursday, April 24th. Finally, Argus lowered Avery Dennison from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 12th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $196.90.

Avery Dennison Stock Performance

Shares of AVY stock opened at $182.20 on Friday. The stock has a fifty day moving average price of $178.65 and a 200 day moving average price of $179.84. The stock has a market cap of $14.24 billion, a PE ratio of 20.99, a P/E/G ratio of 2.55 and a beta of 0.87. Avery Dennison has a 1 year low of $157.00 and a 1 year high of $233.48. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.68 and a current ratio of 1.03.

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

Institutional Investors Weigh In On Avery Dennison

A number of institutional investors have recently added to or reduced their stakes in AVY. Norges Bank purchased a new stake in Avery Dennison during the fourth quarter valued at about $188,643,000. GAMMA Investing LLC boosted its position in shares of Avery Dennison by 19,370.0% in the first quarter. GAMMA Investing LLC now owns 428,730 shares of the industrial products company’s stock worth $76,301,000 after buying an additional 426,528 shares during the period. DAVENPORT & Co LLC boosted its position in shares of Avery Dennison by 905.0% in the first quarter. DAVENPORT & Co LLC now owns 324,095 shares of the industrial products company’s stock worth $57,503,000 after buying an additional 291,848 shares during the period. Vanguard Group Inc. boosted its position in shares of Avery Dennison by 2.9% in the first quarter. Vanguard Group Inc. now owns 9,959,263 shares of the industrial products company’s stock worth $1,772,450,000 after buying an additional 277,554 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in shares of Avery Dennison in the fourth quarter worth about $51,521,000. Hedge funds and other 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.