Avery Dennison (NYSE:AVY) Receives Outperform Rating from Raymond James

Raymond James restated their outperform rating on shares of Avery Dennison (NYSE:AVY) in a research report sent to investors on Thursday, Benzinga reports. They currently have a $240.00 target price on the industrial products company’s stock, up from their prior target price of $225.00.

AVY has been the subject of a number of other research reports. JPMorgan Chase & Co. raised their price target on Avery Dennison from $185.00 to $218.00 and gave the company an overweight rating in a research report on Thursday, February 1st. StockNews.com raised Avery Dennison from a hold rating to a buy rating in a research note on Monday. Bank of America downgraded shares of Avery Dennison from a buy rating to an underperform rating and set a $208.00 price target for the company. in a research report on Tuesday, January 2nd. Citigroup lifted their target price on Avery Dennison from $223.00 to $234.00 and gave the stock a neutral rating in a report on Thursday, April 4th. Finally, Truist Financial restated a buy rating and issued a $249.00 price target on shares of Avery Dennison in a report on Friday, January 19th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $223.60.

Avery Dennison Stock Up 0.7 %

Shares of Avery Dennison stock traded up $1.58 during trading on Thursday, hitting $218.74. 5,498 shares of the stock were exchanged, compared to its average volume of 438,661. Avery Dennison has a 12-month low of $158.93 and a 12-month high of $225.26. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.87 and a quick ratio of 0.69. The stock has a market cap of $17.61 billion, a price-to-earnings ratio of 31.69, a price-to-earnings-growth ratio of 3.28 and a beta of 0.90. The firm’s 50-day moving average price is $215.51 and its 200 day moving average price is $200.13.

Avery Dennison (NYSE:AVY) last released its quarterly earnings results on Wednesday, January 31st. The industrial products company reported $2.16 EPS for the quarter, hitting the consensus estimate of $2.16. The company had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.10 billion. Avery Dennison had a return on equity of 32.59% and a net margin of 6.56%. The firm’s revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.65 earnings per share. As a group, analysts forecast that Avery Dennison will post 9.26 earnings per share for the current fiscal year.

Avery Dennison Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, March 6th were given a dividend of $0.81 per share. This represents a $3.24 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date of this dividend was Tuesday, March 5th. Avery Dennison’s dividend payout ratio (DPR) is presently 47.30%.

Insider Buying and Selling

In other news, Chairman Mitchell R. Butier sold 8,168 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $217.36, for a total value of $1,775,396.48. Following the transaction, the chairman now directly owns 321,487 shares of the company’s stock, valued at $69,878,414.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Ignacio J. Walker sold 5,000 shares of the stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $213.90, for a total transaction of $1,069,500.00. Following the transaction, the senior vice president now directly owns 6,102 shares in the company, valued at $1,305,217.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Mitchell R. Butier sold 8,168 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $217.36, for a total transaction of $1,775,396.48. Following the sale, the chairman now directly owns 321,487 shares of the company’s stock, valued at $69,878,414.32. The disclosure for this sale can be found here. Insiders sold 19,879 shares of company stock valued at $4,217,705 over the last 90 days. Corporate insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Avery Dennison

Several hedge funds and other institutional investors have recently made changes to their positions in AVY. Taylor Frigon Capital Management LLC lifted its holdings in Avery Dennison by 0.8% during the 1st quarter. Taylor Frigon Capital Management LLC now owns 6,386 shares of the industrial products company’s stock worth $1,426,000 after buying an additional 48 shares during the last quarter. Albert D Mason Inc. raised its holdings in Avery Dennison by 0.7% during the 1st quarter. Albert D Mason Inc. now owns 7,456 shares of the industrial products company’s stock worth $1,665,000 after buying an additional 51 shares during the period. Alliance Wealth Advisors LLC UT increased its holdings in shares of Avery Dennison by 1.5% in the 4th quarter. Alliance Wealth Advisors LLC UT now owns 3,840 shares of the industrial products company’s stock valued at $776,000 after purchasing an additional 56 shares during the period. First Trust Direct Indexing L.P. boosted its position in Avery Dennison by 5.0% during the fourth quarter. First Trust Direct Indexing L.P. now owns 1,198 shares of the industrial products company’s stock valued at $242,000 after purchasing an additional 57 shares during the last quarter. Finally, New York Life Investment Management LLC lifted its position in shares of Avery Dennison by 0.5% in the third quarter. New York Life Investment Management LLC now owns 11,454 shares of the industrial products company’s stock worth $2,092,000 after buying an additional 58 shares during the last quarter. Institutional investors and hedge funds 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.