Avery Dennison (NYSE:AVY) Price Target Raised to $258.00 at Truist Financial

Avery Dennison (NYSE:AVY) had its target price lifted by investment analysts at Truist Financial from $253.00 to $258.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the industrial products company’s stock. Truist Financial’s price objective would indicate a potential upside of 23.39% from the stock’s current price.

Several other equities analysts also recently commented on AVY. Argus boosted their price target on shares of Avery Dennison from $240.00 to $245.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. Stifel Nicolaus began coverage on shares of Avery Dennison in a research note on Tuesday, July 9th. They issued a “buy” rating and a $274.60 price target for the company. UBS Group dropped their price target on shares of Avery Dennison from $260.00 to $252.00 and set a “buy” rating for the company in a research note on Tuesday, July 9th. StockNews.com raised shares of Avery Dennison from a “hold” rating to a “buy” rating in a research report on Monday, April 22nd. Finally, Robert W. Baird lifted their price objective on shares of Avery Dennison from $230.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, June 7th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $239.96.

Avery Dennison Stock Down 2.6 %

Avery Dennison stock opened at $209.10 on Wednesday. Avery Dennison has a fifty-two week low of $165.21 and a fifty-two week high of $233.48. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.58 and a current ratio of 0.87. The firm has a 50 day moving average price of $223.09 and a 200 day moving average price of $215.77. The company has a market capitalization of $16.84 billion, a PE ratio of 30.53, a price-to-earnings-growth ratio of 1.91 and a beta of 0.88.

Avery Dennison (NYSE:AVY) last posted its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $2.42 EPS for the quarter, topping the consensus estimate of $2.26 by $0.16. The business had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $2.18 billion. Avery Dennison had a net margin of 7.34% and a return on equity of 34.05%. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.92 earnings per share. Research analysts expect that Avery Dennison will post 9.34 earnings per share for the current year.

Insider Activity at Avery Dennison

In related news, SVP Deena Baker-Nel sold 3,000 shares of the business’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $228.17, for a total value of $684,510.00. Following the completion of the sale, the senior vice president now directly owns 1,577 shares of the company’s stock, valued at $359,824.09. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, SVP Ignacio J. Walker sold 2,206 shares of the company’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $226.70, for a total value of $500,100.20. Following the completion of the sale, the senior vice president now directly owns 7,082 shares of the company’s stock, valued at $1,605,489.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Deena Baker-Nel sold 3,000 shares of the company’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $228.17, for a total transaction of $684,510.00. Following the completion of the sale, the senior vice president now directly owns 1,577 shares of the company’s stock, valued at $359,824.09. The disclosure for this sale can be found here. Insiders sold a total of 12,583 shares of company stock valued at $2,856,353 over the last ninety days. Insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Avery Dennison

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Taylor Frigon Capital Management LLC raised its holdings in shares of Avery Dennison by 0.8% in the first quarter. Taylor Frigon Capital Management LLC now owns 6,386 shares of the industrial products company’s stock valued at $1,426,000 after buying an additional 48 shares during the last quarter. Albert D Mason Inc. lifted its position in shares of Avery Dennison by 0.7% in 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 last quarter. Alliance Wealth Advisors LLC UT lifted its position 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 worth $776,000 after buying an additional 56 shares during the last quarter. First Trust Direct Indexing L.P. lifted its position in shares of Avery Dennison by 5.0% in 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 buying an additional 57 shares during the last quarter. Finally, Condor Capital Management lifted its position in shares of Avery Dennison by 0.4% in the 4th quarter. Condor Capital Management now owns 13,716 shares of the industrial products company’s stock worth $2,773,000 after buying an additional 60 shares during the last quarter. 94.17% of the stock is owned by hedge funds and other institutional investors.

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.