Avery Dennison (NYSE:AVY – Get Free Report) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $9.00 to $9.50 for the period, compared to the consensus estimate of $9.34. Avery Dennison also updated its FY 2024 guidance to 9.000-9.500 EPS.
Avery Dennison Price Performance
NYSE AVY traded up $1.72 on Friday, hitting $218.88. The stock had a trading volume of 180,338 shares, compared to its average volume of 440,730. Avery Dennison has a 52-week low of $158.93 and a 52-week high of $225.26. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.69 and a current ratio of 0.87. The firm has a 50-day moving average of $215.51 and a 200-day moving average of $200.13. The company has a market capitalization of $17.62 billion, a price-to-earnings ratio of 31.85, a price-to-earnings-growth ratio of 3.28 and a beta of 0.90.
Avery Dennison (NYSE:AVY – Get Free Report) last announced its quarterly earnings data on Wednesday, January 31st. The industrial products company reported $2.16 EPS for the quarter, meeting the consensus estimate of $2.16. The business had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.10 billion. Avery Dennison had a return on equity of 32.59% and a net margin of 6.56%. The business’s revenue was up 4.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.65 earnings per share. Equities analysts expect that Avery Dennison will post 9.26 EPS for the current year.
Avery Dennison Announces Dividend
Analyst Ratings Changes
Several equities analysts recently issued reports on AVY shares. StockNews.com upgraded Avery Dennison from a hold rating to a buy rating in a report on Monday. Truist Financial upped their price objective on shares of Avery Dennison from $248.00 to $253.00 and gave the stock a buy rating in a research report on Friday. Citigroup raised their target price on Avery Dennison from $223.00 to $234.00 and gave the stock a neutral rating in a research report on Thursday, April 4th. UBS Group boosted their price target on Avery Dennison from $225.00 to $230.00 and gave the stock a buy rating in a report on Thursday, January 11th. Finally, Robert W. Baird boosted their target price on Avery Dennison from $215.00 to $230.00 and gave the company an outperform rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Avery Dennison has an average rating of Moderate Buy and a consensus price target of $224.00.
Get Our Latest Stock Report on Avery Dennison
Insider Buying and Selling at Avery Dennison
In related news, Director Julia A. Stewart sold 5,311 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $202.26, for a total transaction of $1,074,202.86. Following the transaction, the director now owns 5,018 shares in the company, valued at $1,014,940.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Avery Dennison news, Director Julia A. Stewart sold 5,311 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $202.26, for a total value of $1,074,202.86. Following the completion of the sale, the director now owns 5,018 shares of the company’s stock, valued at $1,014,940.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Mitchell R. Butier sold 8,168 shares of the company’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 completion of the transaction, the chairman now owns 321,487 shares in the company, valued at $69,878,414.32. The disclosure for this sale can be found here. In the last three months, insiders sold 19,879 shares of company stock worth $4,217,705. Insiders own 1.10% 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.
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