Avery Dennison (NYSE:AVY) Coverage Initiated at Barclays

Barclays began coverage on shares of Avery Dennison (NYSE:AVY) in a report issued on Monday, MarketBeat Ratings reports. The brokerage set an “overweight” rating and a $250.00 price target on the industrial products company’s stock. Barclays‘s price objective points to a potential upside of 16.57% from the stock’s previous close.

AVY has been the subject of a number of other reports. BMO Capital Markets reaffirmed an “outperform” rating and set a $252.00 price target (down from $254.00) on shares of Avery Dennison in a report on Thursday, September 19th. Citigroup decreased their price objective on shares of Avery Dennison from $241.00 to $240.00 and set a “neutral” rating on the stock in a report on Wednesday, October 2nd. Truist Financial boosted their target price on shares of Avery Dennison from $253.00 to $258.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Stifel Nicolaus started coverage on shares of Avery Dennison in a research note on Tuesday, July 9th. They set a “buy” rating and a $274.60 price target on the stock. Finally, UBS Group cut Avery Dennison from a “buy” rating to a “neutral” rating and lowered their target price for the company from $262.00 to $235.00 in a research note on Thursday, July 25th. One 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. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $242.96.

Avery Dennison Stock Performance

NYSE:AVY opened at $214.47 on Monday. The firm has a 50-day moving average price of $215.38 and a 200 day moving average price of $218.99. The company has a quick ratio of 0.60, a current ratio of 0.90 and a debt-to-equity ratio of 0.89. The firm has a market capitalization of $17.28 billion, a PE ratio of 31.31, a price-to-earnings-growth ratio of 1.78 and a beta of 0.88. Avery Dennison has a 12-month low of $165.21 and a 12-month high of $233.48.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.26 by $0.16. The company had revenue of $2.24 billion during the quarter, compared to analysts’ expectations of $2.18 billion. Avery Dennison had a return on equity of 33.44% and a net margin of 7.34%. The business’s revenue was up 6.9% on a year-over-year basis. During the same period last year, the business earned $1.92 earnings per share. Research analysts anticipate that Avery Dennison will post 9.41 earnings per share for the current fiscal year.

Insider Activity

In other Avery Dennison news, Chairman Mitchell R. Butier sold 7,108 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $218.12, for a total transaction of $1,550,396.96. Following the transaction, the chairman now owns 304,114 shares in the company, valued at $66,333,345.68. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Chairman Mitchell R. Butier sold 10,000 shares of the stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $213.75, for a total value of $2,137,500.00. Following the completion of the sale, the chairman now owns 304,114 shares of the company’s stock, valued at approximately $65,004,367.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Mitchell R. Butier sold 7,108 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $218.12, for a total value of $1,550,396.96. Following the sale, the chairman now owns 304,114 shares of the company’s stock, valued at approximately $66,333,345.68. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 59,108 shares of company stock valued at $12,545,087. 1.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC lifted its position in shares of Avery Dennison by 12.5% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 963 shares of the industrial products company’s stock valued at $195,000 after buying an additional 107 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in Avery Dennison by 48.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 8,836 shares of the industrial products company’s stock valued at $1,786,000 after purchasing an additional 2,893 shares during the period. Public Employees Retirement Association of Colorado increased its stake in shares of Avery Dennison by 155.8% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 9,141 shares of the industrial products company’s stock valued at $1,848,000 after buying an additional 5,568 shares during the period. Cibc World Markets Corp lifted its position in shares of Avery Dennison by 133.1% in the 4th quarter. Cibc World Markets Corp now owns 10,370 shares of the industrial products company’s stock worth $2,096,000 after purchasing an additional 5,922 shares during the period. Finally, Schroder Investment Management Group boosted its stake in shares of Avery Dennison by 2,707.5% during the 4th quarter. Schroder Investment Management Group now owns 197,562 shares of the industrial products company’s stock valued at $39,939,000 after purchasing an additional 190,525 shares in the last quarter. Institutional investors 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.