Avery Dennison (NYSE:AVY) Price Target Lowered to $245.00 at Truist Financial

Avery Dennison (NYSE:AVY) had its price objective dropped by stock analysts at Truist Financial from $258.00 to $245.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the industrial products company’s stock. Truist Financial’s target price would suggest a potential upside of 31.26% from the stock’s previous close.

AVY has been the topic of a number of other reports. Barclays dropped their target price on shares of Avery Dennison from $250.00 to $245.00 and set an “overweight” rating on the stock in a research note on Monday, October 28th. StockNews.com downgraded Avery Dennison from a “buy” rating to a “hold” rating in a report on Thursday, October 24th. BMO Capital Markets dropped their price target on Avery Dennison from $252.00 to $247.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. JPMorgan Chase & Co. downgraded Avery Dennison from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $230.00 to $210.00 in a report on Thursday, October 24th. Finally, Citigroup dropped their target price 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. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $237.60.

Avery Dennison Stock Down 0.7 %

Shares of NYSE:AVY opened at $186.65 on Monday. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.92 and a quick ratio of 0.62. The business has a 50 day simple moving average of $198.23 and a two-hundred day simple moving average of $209.88. Avery Dennison has a 1 year low of $181.99 and a 1 year high of $233.48. The firm has a market capitalization of $15.00 billion, a PE ratio of 22.41, a price-to-earnings-growth ratio of 1.52 and a beta of 0.89.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $2.33 EPS for the quarter, beating the consensus estimate of $2.32 by $0.01. The company had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.20 billion. Avery Dennison had a return on equity of 33.01% and a net margin of 7.76%. Avery Dennison’s quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.10 EPS. On average, equities analysts predict that Avery Dennison will post 9.42 EPS for the current year.

Insider Transactions at Avery Dennison

In other Avery Dennison news, SVP Nicholas Colisto sold 3,679 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $206.00, for a total value of $757,874.00. Following the completion of the sale, the senior vice president now directly owns 7,126 shares in the company, valued at approximately $1,467,956. This trade represents a 34.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Avery Dennison

Several hedge funds have recently modified their holdings of the stock. Larson Financial Group LLC boosted its stake in Avery Dennison by 100.0% in the 3rd quarter. Larson Financial Group LLC now owns 142 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 71 shares in the last quarter. Kennebec Savings Bank purchased a new position in shares of Avery Dennison in the third quarter worth $36,000. Peterson Financial Group Inc. acquired a new stake in shares of Avery Dennison during the third quarter worth $39,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Avery Dennison during the second quarter valued at $42,000. Finally, Raleigh Capital Management Inc. increased its position in shares of Avery Dennison by 1,400.0% in the 3rd quarter. Raleigh Capital Management Inc. now owns 255 shares of the industrial products company’s stock valued at $56,000 after acquiring an additional 238 shares during the period. 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.