Avery Dennison (NYSE:AVY) Price Target Raised to $230.00 at Robert W. Baird

Avery Dennison (NYSE:AVY) had its price target hoisted by Robert W. Baird from $215.00 to $230.00 in a research report released on Thursday, Benzinga reports. Robert W. Baird currently has an outperform rating on the industrial products company’s stock.

Several other research analysts also recently weighed in on AVY. Raymond James boosted their target price on shares of Avery Dennison from $199.00 to $225.00 and gave the company an outperform rating in a research note on Thursday, January 25th. Citigroup boosted their target price on shares of Avery Dennison from $223.00 to $234.00 and gave the company a neutral rating in a research note on Thursday, April 4th. UBS Group upped their price objective on shares of Avery Dennison from $225.00 to $230.00 and gave the company a buy rating in a research note on Thursday, January 11th. Truist Financial reaffirmed a buy rating and set a $249.00 price objective on shares of Avery Dennison in a research note on Friday, January 19th. Finally, Bank of America downgraded shares of Avery Dennison from a buy rating to an underperform rating and set a $208.00 price objective for the company. in a research note on Tuesday, January 2nd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of Moderate Buy and an average price target of $224.00.

Avery Dennison Stock Performance

Shares of AVY opened at $219.03 on Thursday. The company has a current ratio of 0.87, a quick ratio of 0.69 and a debt-to-equity ratio of 0.94. The firm has a market cap of $17.64 billion, a PE ratio of 31.98, a price-to-earnings-growth ratio of 3.38 and a beta of 0.90. The company’s 50 day simple moving average is $215.71 and its 200-day simple moving average is $200.58. Avery Dennison has a 12-month low of $158.93 and a 12-month high of $225.26.

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

Avery Dennison Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Wednesday, June 5th will be paid a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 1.61%. The ex-dividend date of this dividend is Wednesday, June 5th. This is a positive change from Avery Dennison’s previous quarterly dividend of $0.81. Avery Dennison’s dividend payout ratio is currently 51.39%.

Insider Buying and Selling at Avery Dennison

In other Avery Dennison news, SVP Ignacio J. Walker sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $213.90, for a total value of $1,069,500.00. Following the completion of the sale, the senior vice president now directly owns 6,102 shares of the company’s stock, valued at $1,305,217.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, SVP Ignacio J. Walker sold 5,000 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $213.90, for a total transaction of $1,069,500.00. Following the completion of the sale, the senior vice president now directly owns 6,102 shares of the company’s stock, valued at approximately $1,305,217.80. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Mitchell R. Butier sold 8,168 shares of the company’s stock in a transaction on Monday, March 4th. The stock was 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. In the last quarter, insiders have sold 19,879 shares of company stock worth $4,217,705. 1.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Avery Dennison

Hedge funds have recently made changes to their positions in the business. Taylor Frigon Capital Management LLC grew 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 acquiring an additional 48 shares during the last quarter. Albert D Mason Inc. grew 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 acquiring an additional 51 shares during the last quarter. Alliance Wealth Advisors LLC UT grew its holdings in Avery Dennison by 1.5% during the 4th quarter. Alliance Wealth Advisors LLC UT now owns 3,840 shares of the industrial products company’s stock worth $776,000 after acquiring an additional 56 shares during the last quarter. First Trust Direct Indexing L.P. grew its holdings in Avery Dennison by 5.0% during the 4th quarter. First Trust Direct Indexing L.P. now owns 1,198 shares of the industrial products company’s stock worth $242,000 after acquiring an additional 57 shares during the last quarter. Finally, New York Life Investment Management LLC grew its holdings in Avery Dennison by 0.5% during the 3rd quarter. New York Life Investment Management LLC now owns 11,454 shares of the industrial products company’s stock worth $2,092,000 after acquiring an additional 58 shares during the last quarter. Institutional investors and hedge funds 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.