Avery Dennison (NYSE:AVY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Monday. The firm presently has a $136.00 price target on the industrial products company’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 13.58% from the company’s current price.

According to Zacks, “Avery Dennison projects adjusted earnings per share guidance in the range of $4.90-$4.95 for fiscal 2017. The midpoint of the guidance range reflects year-over-year growth of 23%. The company expected reported sales growth in the range of 8% for the full year. Its consistent execution of strategies continues to enhance competitive advantage while driving profitable growth. Focus on productivity, acquisitions, aggressive cost control and share repurchases will also drive results.  Its segments remain well poised for growth. Moreover, its shares have outperformed the industry year to date. The company has a positive record of earnings surprises in the last few quarters. “

A number of other equities research analysts have also weighed in on the company. Barclays lifted their target price on Avery Dennison from $105.00 to $120.00 and gave the company an “overweight” rating in a research report on Monday, October 30th. JPMorgan Chase & Co. lowered Avery Dennison from an “overweight” rating to a “neutral” rating in a research report on Thursday, October 26th. KeyCorp reaffirmed a “hold” rating on shares of Avery Dennison in a research report on Monday, October 30th. Robert W. Baird reaffirmed a “buy” rating and set a $115.00 target price on shares of Avery Dennison in a research report on Friday, October 27th. Finally, Loop Capital lifted their target price on Avery Dennison from $99.00 to $106.00 and gave the company a “hold” rating in a research report on Thursday, October 26th. Five investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $116.57.

Shares of Avery Dennison (NYSE AVY) opened at $119.74 on Monday. The company has a current ratio of 1.13, a quick ratio of 0.82 and a debt-to-equity ratio of 1.14. The firm has a market capitalization of $10,628.63, a price-to-earnings ratio of 25.85, a price-to-earnings-growth ratio of 3.16 and a beta of 1.24. Avery Dennison has a 1 year low of $71.71 and a 1 year high of $123.20.

Avery Dennison (NYSE:AVY) last issued its earnings results on Wednesday, October 25th. The industrial products company reported $1.26 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.21 by $0.05. The business had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.65 billion. Avery Dennison had a return on equity of 40.52% and a net margin of 6.27%. Avery Dennison’s revenue was up 11.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.01 EPS. equities research analysts predict that Avery Dennison will post 4.93 earnings per share for the current year.

In other news, Director Peter K. Barker sold 2,000 shares of the business’s stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of $114.76, for a total value of $229,520.00. Following the completion of the transaction, the director now directly owns 26,703 shares of the company’s stock, valued at approximately $3,064,436.28. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Dean A. Scarborough sold 20,000 shares of the business’s stock in a transaction on Monday, October 30th. The stock was sold at an average price of $105.00, for a total value of $2,100,000.00. Following the completion of the transaction, the insider now directly owns 94,042 shares of the company’s stock, valued at $9,874,410. The disclosure for this sale can be found here. Over the last three months, insiders sold 154,604 shares of company stock valued at $16,475,271. Corporate insiders own 1.40% of the company’s stock.

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in Avery Dennison by 2.3% during the 2nd quarter. Vanguard Group Inc. now owns 9,196,133 shares of the industrial products company’s stock valued at $812,662,000 after buying an additional 204,239 shares in the last quarter. State Street Corp increased its position in Avery Dennison by 5.0% during the 2nd quarter. State Street Corp now owns 4,776,961 shares of the industrial products company’s stock valued at $422,140,000 after buying an additional 229,297 shares in the last quarter. Westfield Capital Management Co. LP increased its position in Avery Dennison by 21.3% during the 3rd quarter. Westfield Capital Management Co. LP now owns 911,591 shares of the industrial products company’s stock valued at $89,646,000 after buying an additional 159,800 shares in the last quarter. Skandinaviska Enskilda Banken AB publ increased its position in Avery Dennison by 15.3% during the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 856,936 shares of the industrial products company’s stock valued at $84,271,000 after buying an additional 113,600 shares in the last quarter. Finally, Neuberger Berman Group LLC increased its position in Avery Dennison by 6.2% during the 3rd quarter. Neuberger Berman Group LLC now owns 801,191 shares of the industrial products company’s stock valued at $78,789,000 after buying an additional 46,706 shares in the last quarter. 85.52% of the stock is currently owned by institutional investors.

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About Avery Dennison

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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Analyst Recommendations for Avery Dennison (NYSE:AVY)

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