Avery Dennison (NYSE:AVY) Price Target Lowered to $247.00 at BMO Capital Markets

Avery Dennison (NYSE:AVY) had its price target lowered by stock analysts at BMO Capital Markets from $252.00 to $247.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the industrial products company’s stock. BMO Capital Markets’ price target would indicate a potential upside of 18.95% from the stock’s current price.

Other research analysts have also recently issued reports about the company. Stifel Nicolaus started coverage on Avery Dennison in a research note on Tuesday, July 9th. They issued a “buy” rating and a $274.60 target price for the company. Bank of America raised Avery Dennison from an “underperform” rating to a “buy” rating and upped their price objective for the stock from $207.00 to $250.00 in a research report on Thursday, October 17th. Truist Financial upped their price objective on Avery Dennison from $253.00 to $258.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. JPMorgan Chase & Co. cut Avery Dennison from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $230.00 to $210.00 in a research report on Thursday. Finally, UBS Group cut Avery Dennison from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $262.00 to $235.00 in a research report on Thursday, July 25th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $245.42.

Avery Dennison Trading Down 2.2 %

NYSE AVY opened at $207.65 on Thursday. The stock has a 50-day simple moving average of $217.00 and a 200 day simple moving average of $218.62. The company has a market capitalization of $16.73 billion, a PE ratio of 30.31, a P/E/G ratio of 1.78 and a beta of 0.88. The company has a current ratio of 0.90, a quick ratio of 0.60 and a debt-to-equity ratio of 0.89. Avery Dennison has a 12 month low of $165.21 and a 12 month high of $233.48.

Avery Dennison (NYSE:AVY) last posted its earnings results on Wednesday, October 23rd. The industrial products company reported $2.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.32 by $0.01. Avery Dennison had a return on equity of 33.44% and a net margin of 7.34%. The firm had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.20 billion. During the same period in the previous year, the firm earned $2.10 earnings per share. The company’s revenue was up 4.1% on a year-over-year basis. Research analysts forecast that Avery Dennison will post 9.41 EPS for the current year.

Insiders Place Their Bets

In other Avery Dennison news, Chairman Mitchell R. Butier sold 3,000 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $202.95, for a total transaction of $608,850.00. Following the transaction, the chairman now owns 304,114 shares in the company, valued at $61,719,936.30. 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 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. Also, Chairman Mitchell R. Butier sold 3,000 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $202.95, for a total value of $608,850.00. Following the completion of the sale, the chairman now directly owns 304,114 shares in the company, valued at approximately $61,719,936.30. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 59,108 shares of company stock worth $12,545,087 in the last 90 days. Company insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Avery Dennison

Hedge funds have recently modified their holdings of the company. Innealta Capital LLC bought a new position in Avery Dennison during the 2nd quarter worth $28,000. Ashton Thomas Private Wealth LLC acquired a new position in Avery Dennison during the 2nd quarter valued at about $42,000. 1620 Investment Advisors Inc. acquired a new position in Avery Dennison during the 2nd quarter valued at about $51,000. Raleigh Capital Management Inc. boosted its stake in Avery Dennison by 1,400.0% during the 3rd quarter. Raleigh Capital Management Inc. now owns 255 shares of the industrial products company’s stock valued at $56,000 after purchasing an additional 238 shares during the last quarter. Finally, Palisade Asset Management LLC purchased a new position in shares of Avery Dennison in the 1st quarter worth approximately $64,000. 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.