KeyCorp Reaffirms Hold Rating for Avery Dennison Corporation (AVY)
A number of other research firms have also recently weighed in on AVY. Robert W. Baird restated a buy rating and issued a $100.00 price target on shares of Avery Dennison Corporation in a report on Friday, September 1st. Citigroup Inc. upped their price target on Avery Dennison Corporation from $106.00 to $108.00 and gave the stock a buy rating in a report on Wednesday, July 26th. BidaskClub upgraded Avery Dennison Corporation from a buy rating to a strong-buy rating in a report on Wednesday, June 28th. Zacks Investment Research upgraded Avery Dennison Corporation from a hold rating to a buy rating and set a $97.00 price target for the company in a report on Wednesday, June 21st. Finally, Bank of America Corporation upgraded Avery Dennison Corporation from a neutral rating to a buy rating and upped their price target for the stock from $90.00 to $96.00 in a report on Tuesday, June 20th. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of Buy and a consensus price target of $92.86.
Shares of Avery Dennison Corporation (NYSE AVY) opened at 98.76 on Friday. The stock’s 50 day moving average is $94.02 and its 200 day moving average is $87.03. The firm has a market cap of $8.73 billion, a PE ratio of 23.20 and a beta of 1.18. Avery Dennison Corporation has a 12 month low of $68.55 and a 12 month high of $99.30.
Avery Dennison Corporation (NYSE:AVY) last released its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $1.31 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.21 by $0.10. The firm had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.61 billion. Avery Dennison Corporation had a return on equity of 39.29% and a net margin of 6.14%. Avery Dennison Corporation’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.09 EPS. On average, analysts anticipate that Avery Dennison Corporation will post $4.83 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 20th. Shareholders of record on Wednesday, September 6th were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date of this dividend was Friday, September 1st. Avery Dennison Corporation’s payout ratio is 42.25%.
In other Avery Dennison Corporation news, Director David E. I. Pyott sold 298 shares of the company’s stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $94.00, for a total value of $28,012.00. Following the transaction, the director now directly owns 16,601 shares of the company’s stock, valued at approximately $1,560,494. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Patrick Siewert sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $93.63, for a total value of $936,300.00. Following the completion of the transaction, the director now directly owns 10,519 shares in the company, valued at $984,893.97. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,298 shares of company stock worth $1,152,312. 1.40% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently made changes to their positions in AVY. American Beacon Advisors Inc. acquired a new position in shares of Avery Dennison Corporation in the 1st quarter valued at approximately $105,000. Van ECK Associates Corp raised its position in shares of Avery Dennison Corporation by 7.7% in the 1st quarter. Van ECK Associates Corp now owns 1,322 shares of the industrial products company’s stock valued at $107,000 after purchasing an additional 94 shares in the last quarter. Acrospire Investment Management LLC acquired a new position in shares of Avery Dennison Corporation in the 2nd quarter valued at approximately $129,000. Captrust Financial Advisors acquired a new position in shares of Avery Dennison Corporation in the 2nd quarter valued at approximately $130,000. Finally, Pacad Investment Ltd. acquired a new position in shares of Avery Dennison Corporation in the 2nd quarter valued at approximately $141,000. 86.65% of the stock is currently owned by institutional investors.
Avery Dennison Corporation Company Profile
Avery Dennison Corporation (Avery Dennison) is engaged in the production of pressure-sensitive materials and a range of tickets, tags, labels and other converted products. The Company’s segments include Label and Graphic Materials (LGM); Retail Branding and Information Solutions (RBIS), and Industrial and Healthcare Materials (IHM).
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