Avery Dennison (NYSE:AVY) Cut to Hold at StockNews.com

StockNews.com downgraded shares of Avery Dennison (NYSE:AVY) from a buy rating to a hold rating in a report issued on Thursday.

A number of other research firms also recently issued reports on AVY. Stifel Nicolaus initiated coverage on Avery Dennison in a research report on Tuesday, July 9th. They issued a “buy” rating and a $274.60 target price on the stock. Citigroup lowered their target price on Avery Dennison from $241.00 to $240.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 2nd. UBS Group downgraded 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 report on Thursday, July 25th. JPMorgan Chase & Co. cut Avery Dennison from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $230.00 to $210.00 in a report on Thursday. Finally, Barclays initiated coverage on Avery Dennison in a report on Monday, October 7th. They set an “overweight” rating and a $250.00 price target for the company. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $245.42.

Avery Dennison Trading Up 0.4 %

Avery Dennison stock traded up $0.74 during mid-day trading on Thursday, hitting $205.70. 139,437 shares of the company’s stock were exchanged, compared to its average volume of 462,578. The company’s 50 day simple moving average is $216.85 and its 200-day simple moving average is $218.53. Avery Dennison has a fifty-two week low of $165.21 and a fifty-two week high of $233.48. The firm has a market capitalization of $16.57 billion, a P/E ratio of 29.92, a PEG ratio of 1.78 and a beta of 0.88. The company has a quick ratio of 0.60, a current ratio of 0.90 and a debt-to-equity ratio of 0.89.

Avery Dennison (NYSE:AVY) last released its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $2.20 billion. During the same quarter last year, the business posted $2.10 EPS. The company’s revenue for the quarter was up 4.1% on a year-over-year basis. On average, equities analysts anticipate that Avery Dennison will post 9.41 earnings per share for the current year.

Insider Transactions at Avery Dennison

In other news, Chairman Mitchell R. Butier sold 10,000 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $213.75, for a total transaction of $2,137,500.00. Following the completion of the transaction, the chairman now directly owns 304,114 shares in the company, 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 Securities & Exchange Commission, which is accessible through the SEC website. In related news, Chairman Mitchell R. Butier sold 10,000 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $213.75, for a total value of $2,137,500.00. Following the sale, the chairman now owns 304,114 shares of the company’s stock, valued at $65,004,367.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Mitchell R. Butier sold 3,000 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $205.76, for a total transaction of $617,280.00. Following the completion of the sale, the chairman now directly owns 304,114 shares in the company, valued at approximately $62,574,496.64. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 59,108 shares of company stock worth $12,545,087. Corporate insiders own 1.10% of the company’s stock.

Institutional Trading of Avery Dennison

A number of institutional investors have recently bought and sold shares of the company. Victory Capital Management Inc. boosted its position in Avery Dennison by 2.1% during the second quarter. Victory Capital Management Inc. now owns 1,326,548 shares of the industrial products company’s stock valued at $290,050,000 after acquiring an additional 27,771 shares during the last quarter. Boston Partners boosted its position in Avery Dennison by 3.6% during the first quarter. Boston Partners now owns 1,019,802 shares of the industrial products company’s stock valued at $227,660,000 after acquiring an additional 35,538 shares during the last quarter. Meridiem Investment Management Ltd. boosted its position in shares of Avery Dennison by 0.7% during the 3rd quarter. Meridiem Investment Management Ltd. now owns 794,092 shares of the industrial products company’s stock worth $175,261,000 after purchasing an additional 5,756 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Avery Dennison by 4.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 787,716 shares of the industrial products company’s stock worth $172,254,000 after purchasing an additional 32,467 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Avery Dennison by 2.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 646,223 shares of the industrial products company’s stock worth $141,297,000 after purchasing an additional 17,158 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.