Avery Dennison (NYSE:AVY) Price Target Lowered to $207.00 at UBS Group

Avery Dennison (NYSE:AVY) had its target price cut by research analysts at UBS Group from $235.00 to $207.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the industrial products company’s stock. UBS Group’s price objective would indicate a potential upside of 11.43% from the stock’s current price.

A number of other equities analysts also recently issued reports on AVY. Barclays decreased their price objective on Avery Dennison from $250.00 to $245.00 and set an “overweight” rating for the company in a report on Monday, October 28th. Truist Financial decreased their target price on Avery Dennison from $258.00 to $245.00 and set a “buy” rating on the stock in a research note on Monday. StockNews.com downgraded Avery Dennison from a “buy” rating to a “hold” rating in a research note on Thursday, October 24th. JPMorgan Chase & Co. cut Avery Dennison from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $230.00 to $210.00 in a report on Thursday, October 24th. Finally, BMO Capital Markets lowered their target price on Avery Dennison from $252.00 to $247.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $235.05.

Avery Dennison Trading Down 1.0 %

Shares of Avery Dennison stock traded down $1.94 on Friday, hitting $185.77. The stock had a trading volume of 235,033 shares, compared to its average volume of 578,418. The firm has a market capitalization of $14.93 billion, a P/E ratio of 22.30, a PEG ratio of 1.52 and a beta of 0.89. Avery Dennison has a twelve month low of $181.99 and a twelve month high of $233.48. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.62 and a current ratio of 0.92. The stock has a 50 day moving average of $197.05 and a 200 day moving average of $209.30.

Avery Dennison (NYSE:AVY) last released its earnings results on Wednesday, October 23rd. The industrial products company reported $2.33 EPS for the quarter, topping analysts’ consensus estimates of $2.32 by $0.01. Avery Dennison had a return on equity of 33.01% and a net margin of 7.76%. The company had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.20 billion. During the same period in the previous year, the business posted $2.10 EPS. The business’s revenue for the quarter was up 4.1% compared to the same quarter last year. Sell-side analysts expect that Avery Dennison will post 9.42 earnings per share for the current fiscal year.

Insider Activity at Avery Dennison

In related news, SVP Nicholas Colisto sold 3,679 shares of the firm’s stock in a transaction 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 completion of the transaction, the senior vice president now owns 7,126 shares of the company’s stock, 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Avery Dennison

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Intech Investment Management LLC boosted its stake in shares of Avery Dennison by 3.3% in the 2nd quarter. Intech Investment Management LLC now owns 1,559 shares of the industrial products company’s stock valued at $341,000 after purchasing an additional 50 shares during the last quarter. Empirical Finance LLC grew its position in Avery Dennison by 2.0% during the third quarter. Empirical Finance LLC now owns 2,822 shares of the industrial products company’s stock valued at $623,000 after buying an additional 55 shares during the period. Procyon Advisors LLC boosted its position in Avery Dennison by 4.0% during the third quarter. Procyon Advisors LLC now owns 1,442 shares of the industrial products company’s stock worth $319,000 after purchasing an additional 56 shares during the period. Lindenwold Advisors INC lifted its holdings in shares of Avery Dennison by 0.6% in the third quarter. Lindenwold Advisors INC now owns 10,266 shares of the industrial products company’s stock worth $2,266,000 after buying an additional 59 shares in the last quarter. Finally, Cynosure Group LLC lifted its holdings in shares of Avery Dennison by 3.6% in the third quarter. Cynosure Group LLC now owns 1,712 shares of the industrial products company’s stock worth $378,000 after buying an additional 59 shares in the last quarter. 94.17% of the stock is currently owned by institutional investors and hedge funds.

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.