Raymond James Financial Raises Avery Dennison (NYSE:AVY) Price Target to $200.00

Avery Dennison (NYSE:AVY) had its target price boosted by stock analysts at Raymond James Financial from $194.00 to $200.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the industrial products company’s stock. Raymond James Financial’s price target would indicate a potential upside of 12.26% from the stock’s current price.

Other research analysts also recently issued research reports about the company. Jefferies Financial Group started coverage on Avery Dennison in a report on Tuesday, April 22nd. They issued a “hold” rating and a $175.00 price target for the company. BMO Capital Markets reduced their target price on Avery Dennison from $226.00 to $216.00 and set an “outperform” rating on the stock in a report on Friday, April 25th. Citigroup increased their target price on Avery Dennison from $177.00 to $185.00 and gave the stock a “neutral” rating in a report on Friday, July 11th. Argus downgraded Avery Dennison from a “strong-buy” rating to a “hold” rating in a report on Monday, May 12th. Finally, Barclays reduced their target price on Avery Dennison from $225.00 to $210.00 and set an “overweight” rating on the stock in a report on Thursday, April 24th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $197.50.

Avery Dennison Trading Up 0.6%

Shares of AVY opened at $178.16 on Tuesday. The company has a market capitalization of $13.93 billion, a P/E ratio of 20.52, a P/E/G ratio of 2.49 and a beta of 0.87. Avery Dennison has a one year low of $157.00 and a one year high of $233.48. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.68 and a current ratio of 1.03. The stock has a 50-day moving average price of $179.11 and a 200 day moving average price of $179.69.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings results on Wednesday, April 23rd. The industrial products company reported $2.30 EPS for the quarter, missing analysts’ consensus estimates of $2.32 by ($0.02). The business had revenue of $2.15 billion during the quarter, compared to analysts’ expectations of $2.15 billion. Avery Dennison had a net margin of 7.98% and a return on equity of 33.11%. The company’s revenue for the quarter was down .1% on a year-over-year basis. During the same period in the prior year, the company posted $2.29 EPS. Sell-side analysts forecast that Avery Dennison will post 9.96 EPS for the current fiscal year.

Institutional Trading of Avery Dennison

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Norges Bank bought a new stake in Avery Dennison during the 4th quarter valued at $188,643,000. GAMMA Investing LLC raised its stake in Avery Dennison by 19,370.0% during the 1st quarter. GAMMA Investing LLC now owns 428,730 shares of the industrial products company’s stock valued at $76,301,000 after acquiring an additional 426,528 shares in the last quarter. DAVENPORT & Co LLC raised its stake in Avery Dennison by 905.0% during the 1st quarter. DAVENPORT & Co LLC now owns 324,095 shares of the industrial products company’s stock valued at $57,503,000 after acquiring an additional 291,848 shares in the last quarter. Vanguard Group Inc. raised its stake in Avery Dennison by 2.9% during the 1st quarter. Vanguard Group Inc. now owns 9,959,263 shares of the industrial products company’s stock valued at $1,772,450,000 after acquiring an additional 277,554 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Avery Dennison during the 4th quarter valued at $51,521,000. 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.