Truist Financial Has Lowered Expectations for Avery Dennison (NYSE:AVY) Stock Price

Avery Dennison (NYSE:AVY) had its price objective reduced by Truist Financial from $215.00 to $210.00 in a report released on Tuesday morning,Benzinga reports. They currently have a buy rating on the industrial products company’s stock.

AVY has been the subject of a number of other research reports. Jefferies Financial Group assumed coverage on Avery Dennison in a research report on Tuesday. They set a “hold” rating and a $175.00 price target for the company. UBS Group dropped their target price on shares of Avery Dennison from $207.00 to $189.00 and set a “neutral” rating for the company in a research report on Monday, April 7th. Citigroup reduced their price target on shares of Avery Dennison from $228.00 to $202.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. Barclays dropped their price objective on shares of Avery Dennison from $245.00 to $225.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Finally, Raymond James restated an “outperform” rating and set a $208.00 target price (down previously from $218.00) on shares of Avery Dennison in a report on Friday, January 31st. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $215.47.

Avery Dennison Stock Up 3.7 %

Shares of NYSE:AVY opened at $175.21 on Tuesday. Avery Dennison has a 12-month low of $157.00 and a 12-month high of $233.48. The stock’s 50-day moving average price is $177.15 and its two-hundred day moving average price is $190.52. The company has a current ratio of 1.08, a quick ratio of 0.73 and a debt-to-equity ratio of 1.10. The firm has a market cap of $13.76 billion, a price-to-earnings ratio of 20.09, a PEG ratio of 2.07 and a beta of 0.85.

Avery Dennison (NYSE:AVY) last released its earnings results on Thursday, January 30th. The industrial products company reported $2.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.39 by ($0.01). Avery Dennison had a net margin of 8.05% and a return on equity of 33.06%. On average, research analysts forecast that Avery Dennison will post 9.96 EPS for the current year.

Avery Dennison Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date of this dividend was Wednesday, March 5th. Avery Dennison’s payout ratio is currently 40.37%.

Insider Activity at Avery Dennison

In related news, Chairman Mitchell R. Butier sold 12,969 shares of the business’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $181.85, for a total value of $2,358,412.65. Following the completion of the sale, the chairman now directly owns 303,331 shares of the company’s stock, valued at $55,160,742.35. The trade was a 4.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.84% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in AVY. Regents Gate Capital LLP bought a new position in Avery Dennison during the fourth quarter worth $37,000. American National Bank & Trust bought a new stake in Avery Dennison during the first quarter valued at $49,000. Spire Wealth Management lifted its position in shares of Avery Dennison by 76.0% in the 4th quarter. Spire Wealth Management now owns 301 shares of the industrial products company’s stock worth $56,000 after buying an additional 130 shares during the last quarter. VisionPoint Advisory Group LLC acquired a new position in shares of Avery Dennison in the 4th quarter valued at about $68,000. Finally, AdvisorNet Financial Inc boosted its holdings in shares of Avery Dennison by 18.8% in the 4th quarter. AdvisorNet Financial Inc now owns 367 shares of the industrial products company’s stock valued at $69,000 after buying an additional 58 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.