Brokerages Set Avery Dennison Co. (NYSE:AVY) PT at $244.96

Shares of Avery Dennison Co. (NYSE:AVY) have been given a consensus recommendation of “Moderate Buy” by the eleven ratings firms that are covering the company, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $244.96.

Several brokerages have recently issued reports on AVY. Bank of America upgraded Avery Dennison from an “underperform” rating to a “buy” rating and upped their price objective for the company from $207.00 to $250.00 in a research report on Thursday, October 17th. Barclays reduced their target price on shares of Avery Dennison from $250.00 to $245.00 and set an “overweight” rating on the stock in a report on Monday, October 28th. JPMorgan Chase & Co. downgraded shares of Avery Dennison from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $230.00 to $210.00 in a report on Thursday, October 24th. StockNews.com downgraded shares of Avery Dennison from a “buy” rating to a “hold” rating in a research note on Thursday, October 24th. Finally, Citigroup lowered their target price on shares of Avery Dennison from $241.00 to $240.00 and set a “neutral” rating for the company in a research note on Wednesday, October 2nd.

Avery Dennison Trading Up 0.4 %

Shares of AVY stock opened at $205.95 on Wednesday. The stock has a market cap of $16.55 billion, a P/E ratio of 24.72, a P/E/G ratio of 1.58 and a beta of 0.89. Avery Dennison has a fifty-two week low of $190.04 and a fifty-two week high of $233.48. The business has a fifty day simple moving average of $209.80 and a 200-day simple moving average of $215.98. The company has a quick ratio of 0.62, a current ratio of 0.92 and a debt-to-equity ratio of 0.85.

Avery Dennison (NYSE:AVY) last announced 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 net margin of 7.76% and a return on equity of 33.01%. The company had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.20 billion. During the same quarter in the prior year, the firm earned $2.10 earnings per share. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year. On average, analysts forecast that Avery Dennison will post 9.42 earnings per share for the current fiscal year.

Avery Dennison Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be given a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.71%. The ex-dividend date is Wednesday, December 4th. Avery Dennison’s dividend payout ratio (DPR) is currently 42.26%.

Insider Activity at Avery Dennison

In related news, SVP Nicholas Colisto sold 3,679 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $206.00, for a total value of $757,874.00. Following the transaction, the senior vice president now 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 is accessible through the SEC website. 1.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Avery Dennison

Several institutional investors have recently bought and sold shares of the business. Innealta Capital LLC acquired a new stake in shares of Avery Dennison in the second quarter valued at about $28,000. Larson Financial Group LLC boosted its holdings 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 acquiring an additional 71 shares during the period. Kennebec Savings Bank purchased a new stake in shares of Avery Dennison during the third quarter valued at approximately $36,000. Peterson Financial Group Inc. purchased a new stake in shares of Avery Dennison during the third quarter valued at approximately $39,000. Finally, Ashton Thomas Private Wealth LLC purchased a new position in shares of Avery Dennison in the second quarter valued at $42,000. 94.17% of the stock is currently owned by hedge funds and other institutional investors.

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.